Alnylam Pharmaceuticals (NASDAQ:ALNY) Raised to Overweight at JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, MarketBeat reports. The firm currently has a $328.00 price objective on the biopharmaceutical company’s stock, up from their prior price objective of $280.00. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.74% from the stock’s previous close.

A number of other analysts have also weighed in on the company. Wells Fargo & Company upped their target price on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a report on Friday, March 21st. Morgan Stanley upped their price objective on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Royal Bank of Canada lifted their target price on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. HC Wainwright increased their price target on shares of Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Finally, Bank of America lifted their price objective on shares of Alnylam Pharmaceuticals from $302.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $312.30.

Alnylam Pharmaceuticals Stock Performance

ALNY stock opened at $280.96 on Monday. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $304.39. The business has a 50-day moving average price of $258.62 and a 200 day moving average price of $260.26. The company has a market capitalization of $36.37 billion, a P/E ratio of -129.47 and a beta of 0.39. The company has a debt-to-equity ratio of 15.27, a current ratio of 2.78 and a quick ratio of 2.71.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). As a group, equities research analysts forecast that Alnylam Pharmaceuticals will post -1.7 EPS for the current fiscal year.

Insider Activity

In related news, Director Phillip A. Sharp sold 11,250 shares of Alnylam Pharmaceuticals 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Pushkal Garg sold 52,592 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $285.00, for a total value of $14,988,720.00. Following the completion of the sale, the chief marketing officer now owns 11,989 shares in the company, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last ninety days. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at $61,160,000. Strategic Financial Concepts LLC purchased a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth about $41,529,000. Truist Financial Corp grew its position in shares of Alnylam Pharmaceuticals by 136.6% during the 4th quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock valued at $1,035,000 after acquiring an additional 2,539 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Alnylam Pharmaceuticals by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock valued at $67,464,000 after purchasing an additional 8,462 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Alnylam Pharmaceuticals by 13.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock worth $4,687,000 after purchasing an additional 2,285 shares during the period. 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.