JPMorgan Chase & Co. Raises Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $475.00

Key Points

• JPMorgan Chase & Co. has raised the price target for Alnylam Pharmaceuticals from $348.00 to $475.00, indicating a potential upside of 10.95% from the previous close.
• Other analysts have also upgraded their ratings and price targets for Alnylam, with UBS Group proposing a target increase to $550.00 and BMO Capital Markets to $360.00.
• Despite some fluctuations, Alnylam's stock has shown strong performance recently, trading at $428.14 and having a market cap of $56.12 billion.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $348.00 to $475.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 10.95% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen raised shares of Alnylam Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. UBS Group increased their target price on shares of Alnylam Pharmaceuticals from $403.00 to $550.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $333.00 to $395.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. BMO Capital Markets increased their target price on shares of Alnylam Pharmaceuticals from $300.00 to $360.00 and gave the company an "outperform" rating in a research report on Tuesday, June 24th. Finally, Truist Financial assumed coverage on shares of Alnylam Pharmaceuticals in a research report on Monday, July 21st. They issued a "buy" rating and a $385.00 target price for the company. Four analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $401.12.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY traded up $9.23 during trading hours on Wednesday, reaching $428.14. 1,181,793 shares of the company were exchanged, compared to its average volume of 938,044. The company has a current ratio of 2.80, a quick ratio of 2.98 and a debt-to-equity ratio of 4.10. The firm has a market cap of $56.12 billion, a PE ratio of -173.34 and a beta of 0.25. Alnylam Pharmaceuticals has a twelve month low of $205.87 and a twelve month high of $428.69. The stock's 50-day moving average is $323.41 and its 200-day moving average is $281.19.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The biopharmaceutical company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.86. The business had revenue of $773,689 billion for the quarter, compared to the consensus estimate of $633.54 million. Alnylam Pharmaceuticals had a negative net margin of 12.96% and a negative return on equity of 273.52%. The company's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. On average, sell-side analysts anticipate that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 19,297 shares of the firm'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 sale, the chief executive officer owned 48,948 shares of the company's stock, valued at approximately $14,978,088. This trade represents a 28.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC acquired a new position in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $243,000. National Bank of Canada FI raised its position in Alnylam Pharmaceuticals by 9.0% in the fourth quarter. National Bank of Canada FI now owns 668 shares of the biopharmaceutical company's stock worth $157,000 after acquiring an additional 55 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Alnylam Pharmaceuticals by 110.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 66,014 shares of the biopharmaceutical company's stock worth $15,534,000 after acquiring an additional 34,647 shares in the last quarter. Cerity Partners LLC raised its position in Alnylam Pharmaceuticals by 3.9% in the fourth quarter. Cerity Partners LLC now owns 13,525 shares of the biopharmaceutical company's stock worth $3,238,000 after acquiring an additional 506 shares in the last quarter. Finally, FIL Ltd raised its position in Alnylam Pharmaceuticals by 48.8% in the fourth quarter. FIL Ltd now owns 22,066 shares of the biopharmaceutical company's stock worth $5,192,000 after acquiring an additional 7,236 shares in 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.

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