Alnylam Pharmaceuticals (NASDAQ:ALNY) Trading Up 3.8% Following Analyst Upgrade

Shares of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) were up 3.8% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $248.00 to $280.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Alnylam Pharmaceuticals traded as high as $282.54 and last traded at $279.47. Approximately 930,518 shares were traded during trading, an increase of 6% from the average daily volume of 879,740 shares. The stock had previously closed at $269.14.

ALNY has been the subject of several other reports. Raymond James increased their price objective on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Chardan Capital reissued a “buy” rating and set a $225.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $400.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, August 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $234.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Monday, June 24th. Finally, The Goldman Sachs Group upgraded Alnylam Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their price target for the company from $198.00 to $370.00 in a research report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $278.59.

Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $276,726.02. Following the transaction, the executive vice president now directly owns 14,181 shares of the company’s stock, valued at approximately $3,275,669.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the transaction, the director now owns 136 shares of the company’s stock, valued at approximately $30,013.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kevin Joseph Fitzgerald sold 1,198 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction 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 approximately $3,275,669.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,148 shares of company stock valued at $25,658,824. 1.50% of the stock is owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Regal Investment Advisors LLC increased its holdings in Alnylam Pharmaceuticals by 4.1% during the second quarter. Regal Investment Advisors LLC now owns 3,348 shares of the biopharmaceutical company’s stock valued at $814,000 after buying an additional 132 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Alnylam Pharmaceuticals by 72.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 596 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 250 shares during the last quarter. Creative Planning lifted its position in Alnylam Pharmaceuticals by 63.2% during the second quarter. Creative Planning now owns 8,034 shares of the biopharmaceutical company’s stock valued at $1,952,000 after purchasing an additional 3,110 shares during the period. Algert Global LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter valued at $476,000. Finally, Driehaus Capital Management LLC acquired a new position in Alnylam Pharmaceuticals during the second quarter valued at $7,895,000. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Stock Up 4.1 %

The company has a market capitalization of $35.45 billion, a price-to-earnings ratio of -104.57 and a beta of 0.37. The business’s 50-day moving average is $248.89 and its 200-day moving average is $185.50.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.61. The company had revenue of $659.83 million for the quarter, compared to analysts’ expectations of $447.22 million. During the same period in the prior year, the firm earned ($2.21) EPS. The firm’s revenue for the quarter was up 107.0% on a year-over-year basis. As a group, analysts expect that Alnylam Pharmaceuticals, Inc. will post -3.99 EPS for the current year.

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.