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

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $300.00 price objective on the biopharmaceutical company's stock. Royal Bank of Canada's target price would suggest a potential upside of 16.94% from the stock's previous close.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein dropped their price objective on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an "outperform" rating on the stock in a report on Tuesday, January 7th. Chardan Capital reissued a "buy" rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, November 1st. Raymond James increased their price target on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Scotiabank increased their price target on shares of Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the stock a "sector outperform" rating in a report on Friday, November 1st. Finally, TD Cowen increased their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a "buy" rating in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $299.43.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock traded down $8.35 during mid-day trading on Tuesday, reaching $256.54. 516,806 shares of the company traded hands, compared to its average volume of 673,302. The company has a debt-to-equity ratio of 31.64, a current ratio of 2.75 and a quick ratio of 2.69. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of -97.92 and a beta of 0.35. The firm's fifty day moving average is $254.03 and its two-hundred day moving average is $263.00.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly 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). On average, equities research analysts expect that Alnylam Pharmaceuticals will post -2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total transaction of $368,689.62. Following the completion of the transaction, the executive vice president now owns 13,191 shares of the company's stock, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now directly owns 11,989 shares of the company's stock, valued at approximately $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 ninety days, insiders sold 73,964 shares of company stock worth $20,622,925. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Huntington National Bank boosted its stake in shares of Alnylam Pharmaceuticals by 91.8% in the third quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 45 shares during the period. Hollencrest Capital Management acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $29,000. Larson Financial Group LLC raised its holdings in Alnylam Pharmaceuticals by 187.2% during 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 in the last quarter. R Squared Ltd acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth approximately $33,000. Finally, Washington Trust Advisors Inc. acquired a new stake in Alnylam Pharmaceuticals during the third quarter worth approximately $42,000. Hedge funds and other 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.