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

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

Other equities analysts have also issued reports about the company. Canaccord Genuity Group increased their price target on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a buy rating in a research note on Friday, August 2nd. Barclays increased their target price on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Bank of America increased their target price on shares of Alnylam Pharmaceuticals from $295.00 to $307.00 and gave the stock a buy rating in a report on Wednesday. Finally, BMO Capital Markets reaffirmed an outperform rating and set a $234.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $279.14.

Alnylam Pharmaceuticals Trading Down 0.3 %

Alnylam Pharmaceuticals stock traded down $0.64 during trading on Wednesday, reaching $253.14. The company had a trading volume of 1,008,458 shares, compared to its average volume of 906,652. The firm has a market capitalization of $32.02 billion, a price-to-earnings ratio of -94.46 and a beta of 0.37. The firm's 50-day simple moving average is $257.19 and its 200 day simple moving average is $189.87. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $287.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million for the quarter, compared to the consensus estimate of $447.22 million. The firm's revenue for the quarter was up 107.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.21) earnings per share. On average, analysts predict that Alnylam Pharmaceuticals will post -2.82 earnings per share for the current year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the company'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 transaction of $276,726.02. Following the completion of the transaction, the executive vice president now directly owns 14,181 shares of the company's stock, valued at approximately $3,275,669.19. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director David E. I. Pyott sold 32,450 shares of the firm'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 value of $7,161,390.50. Following the transaction, the director now owns 136 shares in the company, valued at $30,013.84. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president now owns 14,181 shares in the company, valued at $3,275,669.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 103,148 shares of company stock valued at $25,658,824. Company insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of Alnylam Pharmaceuticals by 572.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 143 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $26,000. Altitude Crest Partners Inc. acquired a new position in Alnylam Pharmaceuticals in the first quarter valued at approximately $30,000. Robeco Institutional Asset Management B.V. grew its position in Alnylam Pharmaceuticals by 155.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 20,549 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 12,513 shares during the period. Finally, V Square Quantitative Management LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter worth $52,000. Institutional investors and hedge funds own 92.97% of the company's stock.

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.