Alnylam Pharmaceuticals (NASDAQ:ALNY) Receives "Outperform" Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) in a research report report published on Wednesday,Benzinga reports. The firm currently has a $310.00 price target on the biopharmaceutical company's stock.

Other equities analysts have also issued reports about the stock. Wolfe Research lowered shares of Alnylam Pharmaceuticals from a "peer perform" rating to an "underperform" rating in a report on Tuesday, November 12th. Sanford C. Bernstein lowered their target price on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. Needham & Company LLC reissued a "buy" rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Wednesday. Canaccord Genuity Group increased their price objective on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $304.26.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded up $9.65 during trading hours on Wednesday, reaching $246.75. 1,178,627 shares of the company were exchanged, compared to its average volume of 731,883. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The stock's fifty day moving average is $254.32 and its two-hundred day moving average is $262.22. The company has a market cap of $31.94 billion, a price-to-earnings ratio of -113.71 and a beta of 0.35. 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 (NASDAQ:ALNY - Get Free Report) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.03). Sell-side analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Activity

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 1,548 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total value of $389,585.16. Following the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,017,271.63. This represents a 11.44 % 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, CEO Yvonne Greenstreet sold 1,213 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $255.17, for a total value of $309,521.21. Following the completion of the sale, the chief executive officer now directly owns 81,526 shares of the company's stock, valued at approximately $20,802,989.42. The trade was a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,986 shares of company stock valued at $20,397,849 in the last quarter. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALNY. Allspring Global Investments Holdings LLC boosted its stake in shares of Alnylam Pharmaceuticals by 62.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 420 shares of the biopharmaceutical company's stock worth $116,000 after acquiring an additional 161 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Alnylam Pharmaceuticals by 56.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 6,454 shares of the biopharmaceutical company's stock worth $1,775,000 after acquiring an additional 2,323 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 41.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,528 shares of the biopharmaceutical company's stock worth $3,171,000 after acquiring an additional 3,373 shares during the period. Pallas Capital Advisors LLC boosted its stake in shares of Alnylam Pharmaceuticals by 61.8% during the 3rd quarter. Pallas Capital Advisors LLC now owns 3,321 shares of the biopharmaceutical company's stock worth $975,000 after acquiring an additional 1,269 shares during the period. Finally, New York State Teachers Retirement System bought a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth approximately $1,453,000. 92.97% of the stock is currently owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.