Alnylam Pharmaceuticals (NASDAQ:ALNY) Earns Outperform Rating from Royal Bank of Canada

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

Several other research firms have also recently commented on ALNY. Wolfe Research cut shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a report on Tuesday, November 12th. Raymond James raised their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Chardan Capital restated a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. TD Cowen raised their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, StockNews.com cut shares of Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $298.61.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY opened at $264.89 on Tuesday. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The company has a 50-day moving average of $254.03 and a two-hundred day moving average of $263.00. The stock has a market cap of $34.17 billion, a price-to-earnings ratio of -101.10 and a beta of 0.35. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). On average, equities research analysts expect that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current year.

Insider Activity

In related news, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. This represents a 81.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 73,964 shares of company stock valued at $20,622,925 over the last 90 days. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. CANADA LIFE ASSURANCE Co raised its stake in Alnylam Pharmaceuticals by 11.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 76,919 shares of the biopharmaceutical company’s stock valued at $18,087,000 after purchasing an additional 8,206 shares during the last quarter. Marshall Wace LLP raised its stake in Alnylam Pharmaceuticals by 496.6% during the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after purchasing an additional 315,182 shares during the last quarter. NewEdge Advisors LLC raised its stake in Alnylam Pharmaceuticals by 97,200.0% during the 4th quarter. NewEdge Advisors LLC now owns 973 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 972 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $3,564,000. Finally, Bridgewater Associates LP raised its stake in shares of Alnylam Pharmaceuticals by 222.3% in the 4th quarter. Bridgewater Associates LP now owns 6,452 shares of the biopharmaceutical company’s stock valued at $1,518,000 after buying an additional 4,450 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.