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

Royal Bank of Canada restated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a research note released on Tuesday,Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the stock. Bank of America lifted their price objective on shares of Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $220.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Scotiabank raised their price objective on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 1st. HC Wainwright restated a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, January 13th. Finally, Barclays raised their price target on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $298.61.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock opened at $275.54 on Tuesday. The firm’s 50 day moving average price is $246.27 and its two-hundred day moving average price is $260.10. 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. The stock has a market cap of $35.54 billion, a PE ratio of -105.17 and a beta of 0.34.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $1.15 EPS. The firm’s revenue was down 33.3% compared to the same quarter last year. As a group, analysts forecast that Alnylam Pharmaceuticals will post -2.18 EPS for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $250.98, for a total value of $368,689.62. Following the sale, the executive vice president now owns 13,191 shares in the company, valued at $3,310,677.18. This represents a 10.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Pushkal Garg sold 1,682 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $422,148.36. Following the completion of the sale, the chief marketing officer now directly owns 17,457 shares of the company’s stock, valued at approximately $4,381,357.86. The trade was a 8.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,122 shares of company stock worth $2,540,455 over the last quarter. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 157.9% in the third quarter. Eventide Asset Management LLC now owns 224,333 shares of the biopharmaceutical company’s stock valued at $61,698,000 after purchasing an additional 137,333 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 11,433.4% during the 3rd quarter. Los Angeles Capital Management LLC now owns 137,017 shares of the biopharmaceutical company’s stock worth $37,684,000 after buying an additional 135,829 shares during the period. AQR Capital Management LLC grew its stake in Alnylam Pharmaceuticals by 92.5% in the 2nd quarter. AQR Capital Management LLC now owns 271,619 shares of the biopharmaceutical company’s stock valued at $65,862,000 after buying an additional 130,482 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new position in Alnylam Pharmaceuticals in the 2nd quarter valued at about $29,111,000. Finally, Telemark Asset Management LLC acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $27,503,000. Institutional investors own 92.97% of the company’s stock.

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.