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

Royal Bank of Canada reiterated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $300.00 price objective on the biopharmaceutical company’s stock.

Other analysts have also issued research reports about the stock. Cantor Fitzgerald lifted their price target on shares of Alnylam Pharmaceuticals from $150.00 to $220.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Citigroup boosted their price target on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a buy rating in a report on Friday, August 2nd. Evercore ISI upped their price objective on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an outperform rating in a report on Tuesday, June 25th. Canaccord Genuity Group upped their price objective on shares of Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the stock a buy rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reiterated an outperform rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $279.14.

Alnylam Pharmaceuticals Trading Down 1.9 %

NASDAQ:ALNY opened at $246.78 on Wednesday. The firm has a 50-day moving average price of $257.35 and a two-hundred day moving average price of $191.27. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $287.55. The company has a market capitalization of $31.22 billion, a P/E ratio of -92.08 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. Alnylam Pharmaceuticals’s revenue was up 107.0% on a year-over-year basis. During the same period in the prior year, the business posted ($2.21) earnings per share. On average, equities research analysts predict that Alnylam Pharmaceuticals will post -2.82 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 32,450 shares of Alnylam Pharmaceuticals stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now directly owns 136 shares of the company’s stock, valued at approximately $30,013.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 32,450 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $30,013.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $276,726.02. Following the completion of the transaction, the executive vice president now owns 14,181 shares in the company, valued at approximately $3,275,669.19. The disclosure for this sale can be found here. Insiders have sold a total of 103,148 shares of company stock valued at $25,658,824 in the last 90 days. 1.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock worth $1,792,542,000 after purchasing an additional 50,366 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Alnylam Pharmaceuticals by 5.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after buying an additional 201,784 shares during the period. Capital International Investors boosted its position in Alnylam Pharmaceuticals by 1.8% during the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after buying an additional 64,560 shares during the period. Capital Research Global Investors boosted its position in Alnylam Pharmaceuticals by 7.3% during the first quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock valued at $470,018,000 after buying an additional 214,908 shares during the period. Finally, Norges Bank purchased a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at about $390,438,000. 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.