Royal Bank of Canada Reiterates “Outperform” Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $300.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective points to a potential upside of 16.16% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays increased their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Bank of America raised their price target on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Raymond James lifted their price objective on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Monday, January 13th. Finally, Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $298.61.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY traded up $11.99 during trading hours on Tuesday, hitting $258.26. The company’s stock had a trading volume of 181,657 shares, compared to its average volume of 637,433. The business’s 50-day moving average is $245.95 and its two-hundred day moving average is $259.84. The company has a market capitalization of $33.31 billion, a PE ratio of -98.54 and a beta of 0.34. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.36). The firm had revenue of $500.90 million during the quarter, compared to analyst estimates of $532.91 million. During the same period in the prior year, the company posted $1.15 EPS. The firm’s quarterly revenue was down 33.3% on a year-over-year basis. As a group, research analysts anticipate that Alnylam Pharmaceuticals will post -2.18 EPS for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total transaction of $368,689.62. Following the completion of the sale, the executive vice president now directly owns 13,191 shares of the company’s stock, valued at $3,310,677.18. This represents a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Pushkal Garg sold 1,752 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $251.00, for a total value of $439,752.00. Following the sale, the chief marketing officer now directly owns 15,705 shares of the company’s stock, valued at approximately $3,941,955. This represents a 10.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,122 shares of company stock valued at $2,540,455. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Souders Financial Advisors increased its position in Alnylam Pharmaceuticals by 1.0% in the 2nd quarter. Souders Financial Advisors now owns 3,512 shares of the biopharmaceutical company’s stock worth $853,000 after purchasing an additional 36 shares during the last quarter. Huntington National Bank increased its position in Alnylam Pharmaceuticals by 91.8% in the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 45 shares during the last quarter. SYM FINANCIAL Corp increased its position in Alnylam Pharmaceuticals by 6.2% in the 3rd quarter. SYM FINANCIAL Corp now owns 947 shares of the biopharmaceutical company’s stock worth $260,000 after purchasing an additional 55 shares during the last quarter. Lindbrook Capital LLC increased its position in Alnylam Pharmaceuticals by 11.1% in the 3rd quarter. Lindbrook Capital LLC now owns 570 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 57 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Alnylam Pharmaceuticals by 0.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,512 shares of the biopharmaceutical company’s stock worth $1,532,000 after purchasing an additional 58 shares during the last quarter. 92.97% of the stock is 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.