Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Gets Price Target Reduction from Royal Bank Of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY – Free Report) had its price objective decreased by Royal Bank Of Canada from $350.00 to $345.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently issued reports on the company. Zacks Research raised Alnylam Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Wall Street Zen downgraded Alnylam Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Sunday, August 2nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. HC Wainwright reiterated a “buy” rating and set a $455.00 target price on shares of Alnylam Pharmaceuticals in a report on Monday, September 21st. Finally, Barclays dropped their target price on shares of Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $366.65.

Get Our Latest Stock Report on ALNY

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY stock opened at $232.68 on Thursday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The firm has a market capitalization of $31.13 billion, a price-to-earnings ratio of 43.25 and a beta of 0.28. Alnylam Pharmaceuticals has a one year low of $197.81 and a one year high of $495.55. The company has a 50 day moving average price of $238.60 and a 200 day moving average price of $277.47.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. Alnylam Pharmaceuticals’s revenue for the quarter was up 66.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.51) EPS. Sell-side analysts anticipate that Alnylam Pharmaceuticals will post 6.68 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Bryan Supran sold 1,758 shares of the firm’s stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the completion of the sale, the executive vice president directly owned 12,807 shares in the company, valued at $2,905,652.16. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALNY. SCS Capital Management LLC acquired a new position in Alnylam Pharmaceuticals in the second quarter worth $34,784,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth $50,773,000. Silvant Capital Management LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the second quarter worth $5,456,000. Hsbc Holdings PLC lifted its position in shares of Alnylam Pharmaceuticals by 22.6% in the 4th quarter. Hsbc Holdings PLC now owns 89,517 shares of the biopharmaceutical company’s stock worth $35,675,000 after buying an additional 16,503 shares during the last quarter. Finally, Keystone Investors PTE Ltd. bought a new position in shares of Alnylam Pharmaceuticals in the 4th quarter worth about $3,531,000. Institutional investors and hedge funds own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.

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Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

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