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

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank of Canada in a research note issued to investors on Friday, Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company's stock. Royal Bank of Canada's target price indicates a potential upside of 9.53% from the stock's previous close.

Several other brokerages also recently weighed in on ALNY. Barclays upped their target price on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an "overweight" rating in a research note on Friday. Citigroup raised their target price on Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the company a "buy" rating in a research note on Friday, August 2nd. HC Wainwright reissued a "buy" rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 18th. Bank of America upped their target price on Alnylam Pharmaceuticals from $307.00 to $314.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, TD Cowen lifted their price target on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Six research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $294.50.

Alnylam Pharmaceuticals Stock Up 2.7 %

Shares of NASDAQ ALNY traded up $7.32 on Friday, hitting $273.91. The company had a trading volume of 866,294 shares, compared to its average volume of 871,240. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The firm has a market capitalization of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39. The business has a 50 day moving average of $274.59 and a two-hundred day moving average of $224.99.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to analysts' expectations of $447.22 million. The firm's revenue was up 107.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.21) EPS. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -2.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Yvonne Greenstreet sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total transaction of $4,200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 73,441 shares in the company, valued at approximately $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Dennis A. Ausiello sold 20,250 shares of the business's stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the sale, the director now owns 136 shares of the company's stock, valued at approximately $35,632. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yvonne Greenstreet sold 15,000 shares of the firm's stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now directly owns 73,441 shares of the company's stock, valued at $20,563,480. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in Alnylam Pharmaceuticals by 572.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 168 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 143 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Alnylam Pharmaceuticals in the second quarter worth about $26,000. Hollencrest Capital Management purchased a new position in shares of Alnylam Pharmaceuticals in the third quarter worth approximately $29,000. Altitude Crest Partners Inc. purchased a new stake in shares of Alnylam Pharmaceuticals in the 1st quarter valued at approximately $30,000. Finally, Washington Trust Advisors Inc. acquired a new position in Alnylam Pharmaceuticals in the 3rd quarter worth approximately $42,000. 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.