Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $338.00 Price Target at JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) had its price target raised by JPMorgan Chase & Co. from $330.00 to $338.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

A number of other research firms have also recently commented on ALNY. Needham & Company LLC reaffirmed a "buy" rating and set a $320.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 9th. HC Wainwright reaffirmed a "buy" rating and set a $500.00 price target on shares of Alnylam Pharmaceuticals in a research note on Wednesday, April 2nd. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Thursday, May 8th. Canaccord Genuity Group lifted their price target on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. Finally, Redburn Atlantic initiated coverage on shares of Alnylam Pharmaceuticals in a research note on Monday, March 31st. They set a "buy" rating and a $353.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $319.58.

Alnylam Pharmaceuticals Price Performance

NASDAQ ALNY traded up $3.32 on Thursday, reaching $307.99. The company had a trading volume of 571,872 shares, compared to its average volume of 933,547. The company has a quick ratio of 2.71, a current ratio of 2.78 and a debt-to-equity ratio of 15.27. The stock has a market capitalization of $40.16 billion, a PE ratio of -141.93 and a beta of 0.22. The firm's 50 day moving average price is $270.09 and its 200 day moving average price is $259.10. Alnylam Pharmaceuticals has a 12 month low of $152.30 and a 12 month high of $310.22.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing analysts' consensus estimates of ($0.37) by ($0.07). The business had revenue of $594.19 million for the quarter, compared to analyst estimates of $584.32 million. During the same period in the prior year, the firm earned ($0.16) earnings per share. The firm's quarterly revenue was up 20.2% on a year-over-year basis. As a group, equities analysts predict that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insider Activity

In related news, CEO Yvonne Greenstreet sold 19,297 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $306.00, for a total transaction of $5,904,882.00. Following the completion of the transaction, the chief executive officer now owns 48,948 shares in the company, valued at $14,978,088. The trade was a 28.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALNY. Larson Financial Group LLC raised its stake in shares of Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 73 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Alnylam Pharmaceuticals during the 1st quarter worth approximately $27,000. Park Square Financial Group LLC bought a new position in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $28,000. Whipplewood Advisors LLC raised its stake in shares of Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 71 shares in the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company's stock worth $29,000 after acquiring an additional 69 shares in the last quarter. Institutional investors 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.