JPMorgan Chase & Co. Increases Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $248.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target increased by investment analysts at JPMorgan Chase & Co. from $160.00 to $248.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 0.27% from the company’s previous close.

A number of other research analysts have also recently issued reports on ALNY. TD Cowen boosted their price objective on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Needham & Company LLC upped their price objective on shares of Alnylam Pharmaceuticals from $200.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, June 24th. SVB Leerink lifted their target price on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the stock a “market perform” rating in a report on Tuesday, June 25th. BMO Capital Markets restated an “outperform” rating and issued a $234.00 price target on shares of Alnylam Pharmaceuticals in a report on Monday, June 24th. Finally, Royal Bank of Canada lifted their price objective on Alnylam Pharmaceuticals from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, June 25th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $249.95.

Alnylam Pharmaceuticals Stock Up 0.4 %

ALNY stock opened at $248.68 on Wednesday. Alnylam Pharmaceuticals has a twelve month low of $141.98 and a twelve month high of $252.87. The company has a market cap of $31.46 billion, a P/E ratio of -92.79 and a beta of 0.37. The business’s fifty day moving average is $168.04 and its 200-day moving average is $166.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.23. The company had revenue of $494.33 million during the quarter, compared to analyst estimates of $428.01 million. The company’s quarterly revenue was up 54.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.40) EPS. Research analysts anticipate that Alnylam Pharmaceuticals will post -3.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total value of $3,224,620.00. Following the completion of the sale, the director now owns 8,436 shares in the company, valued at $1,253,589.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alnylam Pharmaceuticals news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the transaction, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $230.99, for a total value of $276,726.02. Following the completion of the sale, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at $3,275,669.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,357 shares of company stock worth $13,436,711. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its holdings in shares of Alnylam Pharmaceuticals by 30.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,570 shares of the biopharmaceutical company’s stock worth $4,351,000 after buying an additional 5,727 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 19.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,594 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 258 shares during the period. Bank of Nova Scotia increased its stake in shares of Alnylam Pharmaceuticals by 18.3% during the third quarter. Bank of Nova Scotia now owns 2,948 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 457 shares during the period. Teza Capital Management LLC acquired a new stake in Alnylam Pharmaceuticals during the 3rd quarter worth approximately $233,000. Finally, Lazard Asset Management LLC boosted its stake in Alnylam Pharmaceuticals by 1,585.9% in the 3rd quarter. Lazard Asset Management LLC now owns 15,831 shares of the biopharmaceutical company’s stock valued at $2,802,000 after purchasing an additional 14,892 shares during the period. 92.97% of the stock is owned by institutional investors.

Alnylam Pharmaceuticals Company Profile

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.