Alnylam Pharmaceuticals’ (ALNY) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research report report published on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $300.00 target price on the biopharmaceutical company’s stock.

A number of other research analysts have also recently weighed in on ALNY. Bank of America lifted their target price on shares of Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the company a buy rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an equal weight rating in a research note on Friday, August 2nd. HC Wainwright reiterated a buy rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, August 30th. Barclays boosted their price target on shares of Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Finally, Citigroup boosted their price target on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a buy rating in a research note on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of Moderate Buy and an average target price of $279.14.

Alnylam Pharmaceuticals Stock Down 1.9 %

Shares of ALNY opened at $246.78 on Wednesday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $287.55. The company has a market capitalization of $31.22 billion, a P/E ratio of -92.08 and a beta of 0.37. The firm has a 50 day moving average of $257.35 and a 200 day moving average of $191.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. During the same period in the previous year, the firm earned ($2.21) EPS. The company’s revenue was up 107.0% on a year-over-year basis. On average, sell-side analysts expect that Alnylam Pharmaceuticals will post -2.82 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Yvonne Greenstreet sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares in the company, valued at $20,563,480. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,148 shares of company stock valued at $25,658,824. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Alnylam Pharmaceuticals by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,943,895 shares of the biopharmaceutical company’s stock worth $2,286,181,000 after acquiring an additional 287,064 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Alnylam Pharmaceuticals by 155.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 12,513 shares during the period. Quattro Financial Advisors LLC increased its position in shares of Alnylam Pharmaceuticals by 2,517.8% in the 1st quarter. Quattro Financial Advisors LLC now owns 5,000 shares of the biopharmaceutical company’s stock valued at $747,000 after purchasing an additional 4,809 shares during the last quarter. Westpac Banking Corp boosted its holdings in shares of Alnylam Pharmaceuticals by 59.8% in the 4th quarter. Westpac Banking Corp now owns 1,512 shares of the biopharmaceutical company’s stock valued at $289,000 after buying an additional 566 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its holdings in shares of Alnylam Pharmaceuticals by 2,666.3% in the 1st quarter. Plato Investment Management Ltd now owns 4,509 shares of the biopharmaceutical company’s stock valued at $674,000 after buying an additional 4,346 shares in the last quarter. 92.97% of the stock is currently owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc, a biopharmaceutical company, focuses on discovering, developing, and commercializing novel therapeutics based on ribonucleic acid interference. Its marketed products include ONPATTRO (patisiran) for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; AMVUTTRA for the treatment of hATTR amyloidosis with polyneuropathy in adults; GIVLAARI for the treatment of adults with acute hepatic porphyria; and OXLUMO for the treatment of primary hyperoxaluria type 1.