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

Alnylam Pharmaceuticals (NASDAQ:ALNYFree Report) had its target price lowered by JPMorgan Chase & Co. from $420.00 to $400.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 7th. HC Wainwright upped their target price on Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Royal Bank Of Canada reduced their target price 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. Bank of America decreased their price target on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Finally, Citigroup started coverage on shares of Alnylam Pharmaceuticals in a report on Tuesday, May 19th. They issued a “buy” rating and a $380.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $452.13.

View Our Latest Analysis on ALNY

Alnylam Pharmaceuticals Stock Performance

NASDAQ:ALNY opened at $271.77 on Wednesday. The firm’s 50-day moving average is $292.22 and its 200-day moving average is $316.64. Alnylam Pharmaceuticals has a 52-week low of $262.21 and a 52-week high of $495.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13. The company has a market cap of $36.28 billion, a price-to-earnings ratio of 74.25 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNYGet Free Report) last released its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the company earned ($0.44) earnings per share. The firm’s revenue was up 96.4% on a year-over-year basis. Equities research analysts anticipate that Alnylam Pharmaceuticals will post 7.35 earnings per share for the current year.

Insider Activity

In related news, Director David E. I. Pyott sold 3,830 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the completion of the transaction, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth $895,816,000. Qube Research & Technologies Ltd acquired a new stake in shares of Alnylam Pharmaceuticals in the 3rd quarter valued at $369,943,000. AQR Capital Management LLC boosted its stake in shares of Alnylam Pharmaceuticals by 295.2% in the 3rd quarter. AQR Capital Management LLC now owns 744,008 shares of the biopharmaceutical company’s stock valued at $336,009,000 after purchasing an additional 555,759 shares in the last quarter. Orbis Allan Gray Ltd grew its holdings in shares of Alnylam Pharmaceuticals by 29.8% in the 2nd quarter. Orbis Allan Gray Ltd now owns 2,121,412 shares of the biopharmaceutical company’s stock worth $691,771,000 after purchasing an additional 486,489 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 2,221.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 410,342 shares of the biopharmaceutical company’s stock worth $187,116,000 after purchasing an additional 392,668 shares during the last quarter. 92.97% of the stock is currently owned by institutional investors.

About Alnylam Pharmaceuticals

(Get Free Report)

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.

Recommended Stories

Analyst Recommendations for Alnylam Pharmaceuticals (NASDAQ:ALNY)

Receive News & Ratings for Alnylam Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alnylam Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.