Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Upgraded by JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday,Benzinga reports. The firm presently has a $328.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $280.00. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.76% from the company’s previous close.

ALNY has been the topic of several other reports. Canaccord Genuity Group upped their price target on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $320.00 target price on shares of Alnylam Pharmaceuticals in a research note on Friday. Wells Fargo & Company raised their price target on Alnylam Pharmaceuticals from $275.00 to $287.00 and gave the stock an “equal weight” rating in a research note on Friday. Citigroup boosted their price objective on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the company a “buy” rating in a report on Friday. Finally, Royal Bank of Canada increased their target price on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, Alnylam Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $312.30.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $283.34 on Monday. The firm has a market capitalization of $36.68 billion, a price-to-earnings ratio of -130.57 and a beta of 0.39. 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 business has a 50 day simple moving average of $257.16 and a 200-day simple moving average of $259.74. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (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 other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of Alnylam Pharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the transaction, the executive vice president now directly owns 12,881 shares of the company’s stock, valued at approximately $3,240,344.36. The trade was a 10.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the sale, the chief marketing officer now owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,234 shares of company stock worth $19,958,097. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Larson Financial Group LLC boosted its stake in Alnylam Pharmaceuticals by 187.2% in the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 73 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Alnylam Pharmaceuticals in the fourth quarter worth $28,000. R Squared Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter worth $33,000. OFI Invest Asset Management purchased a new stake in shares of Alnylam Pharmaceuticals during the fourth quarter valued at $35,000. Finally, Colonial Trust Co SC acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.