Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $345.00 Price Target at Royal Bank Of Canada

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective dropped by analysts at Royal Bank Of Canada from $350.00 to $345.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 55.11% from the company’s current price.

ALNY has been the topic of a number of other research reports. Citigroup reduced their price target on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Jefferies Financial Group increased their price objective on Alnylam Pharmaceuticals from $230.00 to $260.00 and gave the stock a “hold” rating in a report on Tuesday, September 8th. Needham & Company LLC cut their price objective on Alnylam Pharmaceuticals from $510.00 to $357.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Oppenheimer reduced their target price on Alnylam Pharmaceuticals from $500.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Barclays decreased their target price on Alnylam Pharmaceuticals from $527.00 to $450.00 and set an “overweight” rating for the company in a report on Monday, August 3rd. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Alnylam Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $366.65.

Alnylam Pharmaceuticals Trading Down 0.9%

ALNY traded down $1.99 during trading on Thursday, hitting $222.42. 172,708 shares of the stock traded hands, compared to its average volume of 1,440,656. The firm has a market capitalization of $29.76 billion, a P/E ratio of 41.33 and a beta of 0.28. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The firm has a 50-day moving average of $237.67 and a 200 day moving average of $278.40. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.21. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company’s revenue for the quarter was up 66.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.51) earnings per share. Equities research analysts anticipate that Alnylam Pharmaceuticals will post 6.71 EPS for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the firm’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $226.88, for a total value 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 filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.86% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in Alnylam Pharmaceuticals by 67.2% in the third quarter. Versant Capital Management Inc now owns 652 shares of the biopharmaceutical company’s stock worth $161,000 after purchasing an additional 262 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Alnylam Pharmaceuticals during the third quarter valued at $37,000. QRG Capital Management Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 16.5% during the 2nd quarter. QRG Capital Management Inc. now owns 2,652 shares of the biopharmaceutical company’s stock valued at $798,000 after buying an additional 375 shares in the last quarter. Anchor Investment Management LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 20.2% during the 2nd quarter. Anchor Investment Management LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $1,020,000 after buying an additional 570 shares in the last quarter. Finally, National Pension Service grew its position in shares of Alnylam Pharmaceuticals by 7.9% in the 2nd quarter. National Pension Service now owns 198,295 shares of the biopharmaceutical company’s stock worth $59,693,000 after buying an additional 14,506 shares during the period. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.