JPMorgan Chase & Co. Boosts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $280.00

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price boosted by JPMorgan Chase & Co. from $248.00 to $280.00 in a report released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other research firms have also weighed in on ALNY. Stifel Nicolaus upped their price objective on Alnylam Pharmaceuticals from $215.00 to $295.00 and gave the stock a buy rating in a research report on Thursday, June 27th. Barclays boosted their price objective on Alnylam Pharmaceuticals from $291.00 to $295.00 and gave the stock an overweight rating in a research report on Friday, August 2nd. UBS Group lifted their price target on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a research note on Friday, June 28th. Citigroup boosted their price target on shares of Alnylam Pharmaceuticals from $291.00 to $342.00 and gave the stock a buy rating in a report on Friday, August 2nd. Finally, Needham & Company LLC raised their price objective on shares of Alnylam Pharmaceuticals from $275.00 to $320.00 and gave the company a buy rating in a report on Friday, August 2nd. Seven investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $278.59.

Alnylam Pharmaceuticals Stock Down 1.3 %

NASDAQ:ALNY opened at $269.14 on Monday. Alnylam Pharmaceuticals has a 52 week low of $141.98 and a 52 week high of $285.00. The stock’s fifty day moving average is $246.36 and its two-hundred day moving average is $184.72. The stock has a market capitalization of $34.04 billion, a price-to-earnings ratio of -100.43 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The firm had revenue of $659.83 million during the quarter, compared to analyst estimates of $447.22 million. The business’s revenue was up 107.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.21) earnings per share. On average, sell-side analysts expect that Alnylam Pharmaceuticals will post -3.99 EPS for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the completion of the sale, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Amy W. Schulman sold 21,700 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $148.60, for a total transaction of $3,224,620.00. Following the sale, the director now owns 8,436 shares of the company’s stock, valued at $1,253,589.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David E. I. Pyott sold 32,450 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the sale, the director now directly owns 136 shares in the company, valued at approximately $30,013.84. The disclosure for this sale can be found here. Insiders sold a total of 124,848 shares of company stock valued at $28,883,444 in the last ninety days. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in ALNY. V Square Quantitative Management LLC increased its stake in shares of Alnylam Pharmaceuticals by 21.9% during the 2nd quarter. V Square Quantitative Management LLC now owns 334 shares of the biopharmaceutical company’s stock worth $81,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank lifted its position in shares of Alnylam Pharmaceuticals by 1.7% in the fourth quarter. Commerce Bank now owns 4,683 shares of the biopharmaceutical company’s stock valued at $896,000 after acquiring an additional 77 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Alnylam Pharmaceuticals by 7.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 1,368 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 89 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Alnylam Pharmaceuticals by 54.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 259 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 91 shares during the last quarter. Finally, Metis Global Partners LLC lifted its holdings in Alnylam Pharmaceuticals by 2.2% in the 4th quarter. Metis Global Partners LLC now owns 4,382 shares of the biopharmaceutical company’s stock valued at $839,000 after purchasing an additional 94 shares in the last quarter. 92.97% of the stock is owned by institutional investors and hedge funds.

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.