Royal Bank of Canada Increases Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $250.00

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) had its target price hoisted by equities research analysts at Royal Bank of Canada from $235.00 to $250.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 6.70% from the stock’s previous close.

Several other research analysts have also recently issued reports on ALNY. Wells Fargo & Company upped their target price on shares of Alnylam Pharmaceuticals from $161.00 to $207.00 and gave the company an “equal weight” rating in a report on Tuesday. Evercore ISI upped their price objective on shares of Alnylam Pharmaceuticals from $210.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday. Canaccord Genuity Group restated a “buy” rating and set a $283.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday. BMO Capital Markets restated an “outperform” rating and set a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. Finally, HC Wainwright restated a “buy” rating and set a $400.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday. Seven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.50.

Check Out Our Latest Stock Analysis on Alnylam Pharmaceuticals

Alnylam Pharmaceuticals Stock Up 5.1 %

NASDAQ ALNY traded up $11.41 on Tuesday, hitting $234.31. 1,326,494 shares of the stock were exchanged, compared to its average volume of 798,995. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $235.97. The company has a market cap of $29.64 billion, a PE ratio of -87.43 and a beta of 0.30. The company has a 50-day moving average price of $151.99 and a 200-day moving average price of $162.59.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.23. The firm had revenue of $494.33 million for the quarter, compared to analyst estimates of $428.01 million. During the same quarter last year, the firm earned ($1.40) EPS. The company’s revenue was up 54.8% on a year-over-year basis. As a group, equities research analysts predict that Alnylam Pharmaceuticals will post -3.74 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the completion of the transaction, the director now directly owns 8,436 shares in the company, valued at approximately $1,253,589.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Alnylam Pharmaceuticals by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock worth $1,792,542,000 after purchasing an additional 50,366 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Alnylam Pharmaceuticals by 6.0% during the 3rd quarter. Wellington Management Group LLP now owns 6,431,814 shares of the biopharmaceutical company’s stock worth $1,139,074,000 after purchasing an additional 364,021 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock worth $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Capital International Investors boosted its stake in shares of Alnylam Pharmaceuticals by 1.8% during the 1st quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock worth $545,674,000 after purchasing an additional 64,560 shares during the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Alnylam Pharmaceuticals by 7.3% during the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares during the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

About Alnylam Pharmaceuticals

(Get Free Report)

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.

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