Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price Target Cut by Royal Bank Of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by research analysts at Royal Bank Of Canada from $350.00 to $345.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 55.11% from the company’s previous close.

ALNY has been the subject of several other research reports. HC Wainwright reiterated a “buy” rating and issued a $455.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, September 21st. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Alnylam Pharmaceuticals in a research report on Wednesday, September 30th. Needham & Company LLC dropped their target price on shares of Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, August 31st. Finally, Zacks Research raised Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.65.

Alnylam Pharmaceuticals Trading Down 0.9%

NASDAQ:ALNY traded down $1.99 during trading hours on Thursday, hitting $222.42. 172,708 shares of the company were exchanged, compared to its average volume of 1,440,656. The stock has a market capitalization of $29.76 billion, a price-to-earnings ratio of 41.33 and a beta of 0.28. Alnylam Pharmaceuticals has a one year low of $197.81 and a one year high of $495.55. The company has a fifty day simple moving average of $237.67 and a 200 day simple moving average of $278.40. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The firm’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) EPS. Sell-side analysts expect that Alnylam Pharmaceuticals will post 6.71 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, EVP Bryan Supran sold 1,758 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the sale, the executive vice president owned 12,807 shares of the company’s stock, valued at approximately $2,905,652.16. This represents a 12.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. SCS Capital Management LLC bought a new position in shares of Alnylam Pharmaceuticals during the second quarter valued at about $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $50,773,000. Silvant Capital Management LLC purchased a new stake in Alnylam Pharmaceuticals during the 2nd quarter valued at about $5,456,000. Keystone Investors PTE Ltd. bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth approximately $3,531,000. Finally, Hsbc Holdings PLC grew its position in Alnylam Pharmaceuticals by 22.6% during the 4th quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after acquiring an additional 16,503 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.