Alnylam Pharmaceuticals (NASDAQ:ALNY) Upgraded at JPMorgan Chase & Co.

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 reports. JPMorgan Chase & Co. currently has $328.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $280.00.

Other analysts also recently issued reports about the company. StockNews.com downgraded Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $320.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Scotiabank raised their price target on shares of Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the stock a “sector outperform” rating in a research report on Friday, March 21st. Sanford C. Bernstein cut their price objective 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. Finally, Chardan Capital restated a “buy” rating and set a $300.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $312.30.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY opened at $269.21 on Monday. The company’s 50-day moving average is $258.98 and its 200-day moving average is $260.32. 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 firm has a market capitalization of $34.85 billion, a PE ratio of -124.06 and a beta of 0.39. Alnylam Pharmaceuticals has a fifty-two week low of $141.98 and a fifty-two week high of $304.39.

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

Insiders Place Their Bets

In related news, Director Phillip A. Sharp sold 11,250 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $275.00, for a total value of $3,093,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Pushkal Garg sold 1,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $251.67, for a total transaction of $389,585.16. Following the sale, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,017,271.63. The trade was a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,234 shares of company stock valued at $19,958,097. 1.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Jennison Associates LLC bought a new position in Alnylam Pharmaceuticals during the 4th quarter worth $61,160,000. Strategic Financial Concepts LLC acquired a new stake in shares of Alnylam Pharmaceuticals in the fourth quarter valued at about $41,529,000. Truist Financial Corp raised its position in shares of Alnylam Pharmaceuticals by 136.6% during the fourth quarter. Truist Financial Corp now owns 4,398 shares of the biopharmaceutical company’s stock worth $1,035,000 after acquiring an additional 2,539 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Alnylam Pharmaceuticals by 3.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 286,703 shares of the biopharmaceutical company’s stock worth $67,464,000 after acquiring an additional 8,462 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Alnylam Pharmaceuticals by 13.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,918 shares of the biopharmaceutical company’s stock valued at $4,687,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors and hedge funds own 92.97% of the company’s stock.

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.