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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a report released on Wednesday,Benzinga reports. They presently have a $310.00 target price on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 24.68% from the company’s current price.

A number of other analysts have also issued reports on ALNY. Wolfe Research lowered Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Chardan Capital restated a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday. Barclays boosted their price objective on Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.26.

Alnylam Pharmaceuticals Price Performance

ALNY stock traded up $3.44 during midday trading on Wednesday, reaching $248.64. 200,850 shares of the stock were exchanged, compared to its average volume of 694,318. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $304.39. The stock has a market capitalization of $32.19 billion, a PE ratio of -115.03 and a beta of 0.35. The company has a fifty day moving average price of $254.21 and a 200 day moving average price of $262.72.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). As a group, analysts expect that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 663 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $255.21, for a total transaction of $169,204.23. Following the completion of the transaction, the executive vice president now owns 14,321 shares of the company’s stock, valued at approximately $3,654,862.41. This trade represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,416,865. This trade represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,986 shares of company stock valued at $20,397,849. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently bought and sold shares of ALNY. Huntington National Bank boosted 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 valued at $26,000 after buying an additional 45 shares during the last quarter. Larson Financial Group LLC lifted its holdings in Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares during the period. Hollencrest Capital Management bought a new stake in Alnylam Pharmaceuticals in the third quarter worth about $29,000. R Squared Ltd bought a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth approximately $35,000. 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.