Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target Lowered to $400.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. lowered its price target on Alnylam Pharmaceuticals from $420 to $400, while keeping an overweight rating. The new target still implies about 49% upside from the current share price.
• Several other firms also trimmed their targets recently, including Truist Financial and Bank of America, though the broader analyst view remains positive with a Moderate Buy consensus and an average target price of $452.13.
• Alnylam shares fell 1.3% to $267.85, near their 12-month low of $266.27. The company also reported strong quarterly results, with EPS of $1.99 and revenue of $1.17 billion, both above estimates.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $420.00 to $400.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 49.34% from the stock's current price.

A number of other research firms have also commented on ALNY. Truist Financial decreased their price objective on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating for the company in a research note on Monday, July 13th. Bank of America decreased their target price on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Citigroup began coverage on Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They set a "buy" rating and a $380.00 price target on the stock. Royal Bank Of Canada decreased their price objective on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Finally, Wall Street Zen cut Alnylam Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $452.13.

Alnylam Pharmaceuticals Stock Down 1.3%

ALNY stock traded down $3.52 during midday trading on Wednesday, hitting $267.85. 157,434 shares of the company's stock were exchanged, compared to its average volume of 1,295,326. The firm has a 50 day moving average price of $293.50 and a 200-day moving average price of $318.80. Alnylam Pharmaceuticals has a 12-month low of $266.27 and a 12-month high of $495.55. The stock has a market capitalization of $35.76 billion, a price-to-earnings ratio of 73.20 and a beta of 0.27. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business's revenue was up 96.4% on a year-over-year basis. On average, analysts anticipate that Alnylam Pharmaceuticals will post 7.3 EPS for the current year.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares of the company's stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Alnylam Pharmaceuticals by 20.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company's stock valued at $46,869,000 after buying an additional 26,799 shares during the last quarter. Parallel Advisors LLC raised its position in Alnylam Pharmaceuticals by 7.9% during the first quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company's stock worth $295,000 after acquiring an additional 65 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in Alnylam Pharmaceuticals by 8.3% in the first quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company's stock valued at $242,000 after acquiring an additional 56 shares during the last quarter. Groupama Asset Managment grew its position in shares of Alnylam Pharmaceuticals by 2.5% in the 1st quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company's stock valued at $12,165,000 after acquiring an additional 889 shares during the period. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Alnylam Pharmaceuticals during the 1st quarter worth about $641,000. Institutional investors and hedge funds own 92.97% of the company's stock.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc NASDAQ: ALNY is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

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