JPMorgan Chase & Co. Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Key Points

• JPMorgan lowered Alnylam Pharmaceuticals’ price target from $375 to $369 while maintaining an “overweight” rating, implying about 47.1% upside from the prior close.
• Several analysts also reduced their targets, but the stock retains a “Moderate Buy” consensus with an average price target of $366.90.
• Alnylam shares fell 1.3% to $250.84, while the company reported quarterly EPS of $1.84—above expectations—and revenue of $1.29 billion, up 66.9% year over year.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price lowered by investment analysts at JPMorgan Chase & Co. from $375.00 to $369.00 in a report released on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 47.10% from the stock's previous close.

Other equities analysts also recently issued research reports about the stock. Citigroup cut their price objective on shares of Alnylam Pharmaceuticals from $380.00 to $340.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Wells Fargo & Company dropped their target price on shares of Alnylam Pharmaceuticals from $316.00 to $256.00 and set an "equal weight" rating on the stock in a research report on Friday, August 14th. Truist Financial cut their price target on shares of Alnylam Pharmaceuticals from $410.00 to $315.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Royal Bank Of Canada decreased their price target on shares of Alnylam Pharmaceuticals from $445.00 to $350.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Finally, Chardan Capital reiterated a "buy" rating and set a $425.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $366.90.

Alnylam Pharmaceuticals Stock Down 1.3%

Shares of ALNY stock traded down $3.23 during trading hours on Wednesday, reaching $250.84. 326,293 shares of the company's stock were exchanged, compared to its average volume of 1,443,055. The stock's 50 day moving average is $243.57 and its 200-day moving average is $282.13. The company has a market cap of $33.57 billion, a price-to-earnings ratio of 46.66 and a beta of 0.31. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals has a fifty-two week low of $197.81 and a fifty-two week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $1.84 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.21. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.32 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%.The business's quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) EPS. Analysts predict that Alnylam Pharmaceuticals will post 6.71 earnings per share for the current fiscal year.

Institutional Trading of Alnylam Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its holdings in shares of Alnylam Pharmaceuticals by 9.0% during the second quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company's stock worth $635,296,000 after purchasing an additional 174,482 shares during the last quarter. Legal & General Group Plc purchased a new position in shares of Alnylam Pharmaceuticals during the 2nd quarter valued at about $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alnylam Pharmaceuticals by 7.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company's stock valued at $219,104,000 after buying an additional 50,329 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Alnylam Pharmaceuticals in the 2nd quarter valued at about $148,128,000. Finally, Swiss National Bank lifted its holdings in shares of Alnylam Pharmaceuticals by 7.9% in the 1st quarter. Swiss National Bank now owns 387,720 shares of the biopharmaceutical company's stock valued at $128,285,000 after buying an additional 28,520 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam's commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.

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