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

Royal Bank of Canada reaffirmed their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a $300.00 price target on the biopharmaceutical company’s stock.

ALNY has been the subject of several other research reports. Needham & Company LLC reiterated a buy rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Thursday. Canaccord Genuity Group raised their price target on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a buy rating in a research report on Friday, August 2nd. Raymond James upped their price objective on shares of Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an outperform rating in a research report on Friday, August 2nd. Wells Fargo & Company lifted their target price on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an equal weight rating in a research report on Friday, August 2nd. Finally, Evercore ISI increased their price target on Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the company an outperform rating in a research report on Tuesday, June 25th. Six research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $285.62.

Alnylam Pharmaceuticals Trading Up 2.0 %

ALNY opened at $284.32 on Thursday. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $287.55. The company has a market cap of $35.96 billion, a price-to-earnings ratio of -106.09 and a beta of 0.39. The company’s fifty day moving average price is $269.10 and its two-hundred day moving average price is $212.11.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The business had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The company’s revenue was up 107.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.21) EPS. As a group, equities analysts forecast that Alnylam Pharmaceuticals will post -2.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 15,148 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $270.00, for a total value of $4,089,960.00. Following the completion of the transaction, the chief executive officer now directly owns 73,441 shares of the company’s stock, valued at $19,829,070. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Yvonne Greenstreet sold 15,148 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $270.00, for a total transaction of $4,089,960.00. Following the sale, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $19,829,070. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the completion of the transaction, the director now owns 136 shares of the company’s stock, valued at approximately $35,632. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,398 shares of company stock valued at $13,595,460 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of ALNY. Allspring Global Investments Holdings LLC increased its holdings in shares of Alnylam Pharmaceuticals by 572.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 143 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in Alnylam Pharmaceuticals in the 2nd quarter worth about $26,000. Altitude Crest Partners Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the 1st quarter valued at about $30,000. V Square Quantitative Management LLC bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $52,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 1,237.5% during the second quarter. Meeder Asset Management Inc. now owns 321 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 297 shares in the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

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.