Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $338.00 Price Target at JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by JPMorgan Chase & Co. from $330.00 to $338.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently commented on the company. Redburn Atlantic began coverage on Alnylam Pharmaceuticals in a report on Monday, March 31st. They set a “buy” rating and a $353.00 target price on the stock. Canaccord Genuity Group raised their target price on Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the company a “buy” rating in a report on Friday, March 21st. Morgan Stanley dropped their target price on Alnylam Pharmaceuticals from $284.00 to $268.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Chardan Capital raised their target price on Alnylam Pharmaceuticals from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Alnylam Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $319.58.

Alnylam Pharmaceuticals Stock Performance

Shares of NASDAQ:ALNY opened at $307.99 on Thursday. The company has a market cap of $40.16 billion, a P/E ratio of -141.93 and a beta of 0.22. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. Alnylam Pharmaceuticals has a one year low of $152.30 and a one year high of $310.22. The business’s 50-day simple moving average is $270.09 and its 200 day simple moving average is $259.06.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.07). The company had revenue of $594.19 million during the quarter, compared to analyst estimates of $584.32 million. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) EPS. On average, sell-side analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insider Transactions at Alnylam Pharmaceuticals

In other news, CEO Yvonne Greenstreet sold 31,640 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $304.39, for a total value of $9,630,899.60. Following the completion of the transaction, the chief executive officer now owns 48,948 shares in the company, valued at approximately $14,899,281.72. This trade represents a 39.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC boosted its position in Alnylam Pharmaceuticals by 187.2% during the 4th quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 73 shares during the period. SVB Wealth LLC acquired a new position in Alnylam Pharmaceuticals during the 1st quarter valued at approximately $27,000. Park Square Financial Group LLC acquired a new position in Alnylam Pharmaceuticals during the 4th quarter valued at approximately $28,000. Whipplewood Advisors LLC boosted its position in Alnylam Pharmaceuticals by 208.8% during the 1st quarter. Whipplewood Advisors LLC now owns 105 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 71 shares during the period. Finally, Bessemer Group Inc. boosted its position in Alnylam Pharmaceuticals by 176.9% during the 1st quarter. Bessemer Group Inc. now owns 108 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds 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.