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

Alnylam Pharmaceuticals (NASDAQ:ALNY)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $300.00 price target on the biopharmaceutical company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 12.80% from the company’s previous close.

ALNY has been the topic of several other reports. Chardan Capital reaffirmed a “buy” rating and set a $300.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, November 1st. TD Cowen raised their target price on shares of Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Scotiabank boosted their price target on Alnylam Pharmaceuticals from $305.00 to $310.00 and gave the company a “sector outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, William Blair reiterated an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Stock Down 1.1 %

Shares of NASDAQ:ALNY opened at $265.96 on Tuesday. The company has a market capitalization of $34.30 billion, a P/E ratio of -101.51 and a beta of 0.35. The stock’s fifty day simple moving average is $253.77 and its 200-day simple moving average is $262.99. Alnylam Pharmaceuticals has a 52-week low of $141.98 and a 52-week high of $304.39. The company has a quick ratio of 2.69, a current ratio of 2.75 and a debt-to-equity ratio of 31.64.

Insiders Place Their Bets

In other news, CMO Pushkal Garg sold 52,592 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Tolga Tanguler sold 1,469 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 13,191 shares in the company, valued at $3,310,677.18. This represents a 10.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,964 shares of company stock worth $20,622,925 in the last three months. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP raised its stake in Alnylam Pharmaceuticals by 6.8% during the fourth quarter. Allworth Financial LP now owns 597 shares of the biopharmaceutical company’s stock valued at $140,000 after buying an additional 38 shares in the last quarter. Nixon Peabody Trust Co. raised its position in shares of Alnylam Pharmaceuticals by 1.9% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,293 shares of the biopharmaceutical company’s stock valued at $540,000 after acquiring an additional 43 shares in the last quarter. Huntington National Bank raised its position in shares of Alnylam Pharmaceuticals by 91.8% during the 3rd quarter. Huntington National Bank now owns 94 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 45 shares in the last quarter. IFP Advisors Inc lifted its stake in Alnylam Pharmaceuticals by 24.2% during the fourth quarter. IFP Advisors Inc now owns 241 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 47 shares during the last quarter. Finally, Nwam LLC boosted its holdings in Alnylam Pharmaceuticals by 5.8% in the fourth quarter. Nwam LLC now owns 906 shares of the biopharmaceutical company’s stock worth $213,000 after purchasing an additional 50 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

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.