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

Royal Bank of Canada reiterated their outperform rating on shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) in a report issued on Wednesday morning,Benzinga reports. Royal Bank of Canada currently has a $310.00 target price on the biopharmaceutical company’s stock.

ALNY has been the topic of a number of other research reports. William Blair reissued an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Tuesday, November 19th. Raymond James increased their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Chardan Capital restated a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday. Sanford C. Bernstein decreased their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 7th. Finally, Canaccord Genuity Group boosted their price objective on shares of Alnylam Pharmaceuticals from $384.00 to $385.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $304.26.

Alnylam Pharmaceuticals Stock Down 0.5 %

ALNY opened at $243.86 on Wednesday. The stock has a market capitalization of $31.57 billion, a price-to-earnings ratio of -112.38 and a beta of 0.35. The firm has a 50 day moving average price of $254.33 and a 200-day moving average price of $262.59. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $304.39. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). Equities research analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the transaction, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at $3,416,865. This represents a 81.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yvonne Greenstreet sold 1,213 shares of Alnylam Pharmaceuticals stock in a transaction dated Friday, February 14th. The stock was 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 in the company, valued at $20,802,989.42. This trade represents a 1.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,986 shares of company stock valued at $20,397,849. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Regeneron Pharmaceuticals Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter valued at $1,045,822,000. Norges Bank bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at $577,941,000. Capital Research Global Investors grew its stake in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after buying an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 39.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after buying an additional 1,245,195 shares during the last quarter. Finally, Marshall Wace LLP raised its position in shares of Alnylam Pharmaceuticals by 496.6% during the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after buying an additional 315,182 shares in the last quarter. 92.97% of the stock is 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.