JPMorgan Chase & Co. Issues Positive Forecast for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $272.00 to $280.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.76% from the stock’s current price.

Several other research firms have also issued reports on ALNY. Sanford C. Bernstein decreased their target price on Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. HC Wainwright upped their price target on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $310.00 price objective on shares of Alnylam Pharmaceuticals in a report on Wednesday, February 26th. Needham & Company LLC reiterated a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, February 26th. Finally, StockNews.com cut Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $304.26.

Alnylam Pharmaceuticals Stock Performance

Alnylam Pharmaceuticals stock traded up $2.70 during trading hours on Tuesday, hitting $235.77. The stock had a trading volume of 79,871 shares, compared to its average volume of 788,652. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39. The company has a market cap of $30.52 billion, a PE ratio of -108.85 and a beta of 0.39. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The company has a 50-day moving average of $254.70 and a two-hundred day moving average of $261.25.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.03). On average, equities research analysts anticipate that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 52,592 shares of the business’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 completion of the transaction, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. The trade was a 81.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Phillip A. Sharp sold 11,250 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $275.00, for a total transaction of $3,093,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 72,986 shares of company stock valued at $20,397,849. Company insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Regeneron Pharmaceuticals Inc. bought a new stake in Alnylam Pharmaceuticals during the fourth quarter worth about $1,045,822,000. Norges Bank purchased a new position in shares of Alnylam Pharmaceuticals during the 4th quarter valued at about $577,941,000. Capital Research Global Investors lifted its position in Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after buying an additional 1,724,610 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Alnylam Pharmaceuticals by 39.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company’s stock worth $1,031,705,000 after buying an additional 1,245,195 shares in the last quarter. Finally, Marshall Wace LLP grew its position in Alnylam Pharmaceuticals by 496.6% during the fourth quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after acquiring an additional 315,182 shares during the last quarter. 92.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alnylam Pharmaceuticals

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.