Royal Bank of Canada Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective lifted by analysts at Royal Bank of Canada from $310.00 to $330.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s target price points to a potential upside of 17.54% from the company’s current price.

Several other analysts also recently weighed in on ALNY. JPMorgan Chase & Co. lifted their target price on Alnylam Pharmaceuticals from $272.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Scotiabank lifted their price objective on shares of Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the company a “sector outperform” rating in a research note on Friday. Canaccord Genuity Group increased their target price 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. William Blair restated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday. Finally, Wells Fargo & Company upped their price target on shares of Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $309.61.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock traded up $27.20 during trading on Friday, hitting $280.75. 1,794,610 shares of the stock were exchanged, compared to its average volume of 796,523. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The stock’s fifty day moving average is $256.25 and its 200 day moving average is $259.51. The stock has a market cap of $36.34 billion, a PE ratio of -129.40 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jeffrey V. Poulton sold 967 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $246,749.39. Following the sale, the chief financial officer now owns 32,786 shares of the company’s stock, valued at approximately $8,366,003.62. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC lifted its stake in Alnylam Pharmaceuticals by 187.2% in the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 73 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $28,000. R Squared Ltd bought a new position in Alnylam Pharmaceuticals during the fourth quarter valued at about $33,000. Colonial Trust Co SC acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter worth about $35,000. Finally, True Wealth Design LLC boosted its stake in shares of Alnylam Pharmaceuticals by 15,300.0% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 153 shares in the last quarter. Institutional investors and hedge funds 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.