Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded by JPMorgan Chase & Co. to “Overweight” Rating

JPMorgan Chase & Co. upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY) from a neutral rating to an overweight rating in a report published on Monday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $328.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $280.00.

A number of other research firms have also recently commented on ALNY. Sanford C. Bernstein reduced their price target on shares of Alnylam Pharmaceuticals from $314.00 to $310.00 and set an “outperform” rating for the company in a report on Tuesday, January 7th. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Chardan Capital reiterated a “buy” rating and issued a $300.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, March 21st. Finally, Canaccord Genuity Group raised their price objective on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $312.30.

Alnylam Pharmaceuticals Stock Down 4.2 %

Shares of NASDAQ:ALNY opened at $269.21 on Monday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71. The business’s 50-day moving average is $258.98 and its 200-day moving average is $260.32. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of -124.06 and a beta of 0.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities research analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity at Alnylam Pharmaceuticals

In other news, CMO Pushkal Garg sold 1,548 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $251.67, for a total transaction of $389,585.16. Following the completion of the sale, the chief marketing officer now owns 11,989 shares in the company, valued at $3,017,271.63. This trade represents a 11.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey V. Poulton sold 967 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $255.17, for a total transaction of $246,749.39. Following the completion of the sale, the chief financial officer now directly owns 32,786 shares in the company, valued at $8,366,003.62. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is owned by insiders.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the company. Regeneron Pharmaceuticals Inc. bought a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth $1,045,822,000. Norges Bank bought a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $577,941,000. Capital Research Global Investors increased its stake in shares of Alnylam Pharmaceuticals by 32.9% in the fourth quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company’s stock worth $1,639,767,000 after purchasing an additional 1,724,610 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of 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 valued at $1,031,705,000 after purchasing an additional 1,245,195 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Alnylam Pharmaceuticals by 496.6% during the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company’s stock valued at $89,100,000 after buying an additional 315,182 shares in the last quarter. 92.97% of the stock is 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.