Royal Bank of Canada Reiterates Outperform Rating for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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

Several other research analysts have also recently issued reports on the company. TD Cowen upped their price objective on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Scotiabank upped 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. Wolfe Research lowered shares of Alnylam Pharmaceuticals from a “peer perform” rating to an “underperform” rating in a research note on Tuesday, November 12th. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, January 13th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $296.00 target price on shares of Alnylam Pharmaceuticals in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $298.61.

Alnylam Pharmaceuticals Stock Performance

Shares of Alnylam Pharmaceuticals stock opened at $265.96 on Tuesday. The business has a 50-day simple moving average of $253.77 and a 200-day simple moving average of $262.99. The company has a debt-to-equity ratio of 31.64, a quick ratio of 2.69 and a current ratio of 2.75. Alnylam Pharmaceuticals has a one year low of $141.98 and a one year high of $304.39. The company has a market cap of $34.30 billion, a PE ratio of -101.51 and a beta of 0.35.

Insider Buying and Selling

In other news, EVP Tolga Tanguler sold 1,469 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $250.98, for a total value of $368,689.62. Following the completion of the transaction, the executive vice president now owns 13,191 shares in the company, valued at $3,310,677.18. This trade represents a 10.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the transaction, the chief marketing officer now owns 11,989 shares in the company, valued at $3,416,865. The trade was a 81.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,964 shares of company stock valued at $20,622,925 over the last ninety days. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of ALNY. Sanctuary Advisors LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter worth $578,000. Park Avenue Securities LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 3rd quarter worth $228,000. CWM LLC boosted its position in shares of Alnylam Pharmaceuticals by 93.7% in the 3rd quarter. CWM LLC now owns 6,764 shares of the biopharmaceutical company’s stock worth $1,860,000 after buying an additional 3,272 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Alnylam Pharmaceuticals by 400.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,000 shares of the biopharmaceutical company’s stock worth $275,000 after buying an additional 800 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in Alnylam Pharmaceuticals by 4.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 3,568 shares of the biopharmaceutical company’s stock valued at $981,000 after acquiring an additional 136 shares during the last quarter. 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.