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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective reduced by JPMorgan Chase & Co. from $420.00 to $400.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Several other brokerages also recently weighed in on ALNY. Chardan Capital reissued a “buy” rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research note on Wednesday, March 25th. Bank of America cut their price objective on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Citigroup began coverage on shares of Alnylam Pharmaceuticals in a research report on Tuesday, May 19th. They set a “buy” rating and a $380.00 target price on the stock. Weiss Ratings upgraded Alnylam Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 4th. Finally, Royal Bank Of Canada reduced their price target on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Two research 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. According to data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $452.13.

Alnylam Pharmaceuticals Stock Down 1.6%

ALNY stock opened at $266.99 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06. The company’s 50 day simple moving average is $293.02 and its 200-day simple moving average is $317.88. Alnylam Pharmaceuticals has a 12 month low of $264.21 and a 12 month high of $495.55. The firm has a market capitalization of $35.65 billion, a PE ratio of 72.95 and a beta of 0.27.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last posted its earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $1.12. Alnylam Pharmaceuticals had a return on equity of 85.76% and a net margin of 11.72%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned ($0.44) EPS. Alnylam Pharmaceuticals’s revenue was up 96.4% on a year-over-year basis. Equities analysts expect that Alnylam Pharmaceuticals will post 7.35 earnings per share for the current fiscal year.

Insider Activity

In other news, Director David E. I. Pyott sold 3,830 shares of the company’s stock in a transaction 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 sale, the director directly owned 1,582 shares in the company, valued at $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. MV Capital Management Inc. purchased a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $25,000. HM Payson & Co. purchased a new stake in Alnylam Pharmaceuticals during the 4th quarter worth $27,000. Golden State Wealth Management LLC increased its holdings in Alnylam Pharmaceuticals by 100.0% in the 4th quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company’s stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Alnylam Pharmaceuticals in the third quarter valued at about $29,000. Finally, Manchester Capital Management LLC boosted its position in shares of Alnylam Pharmaceuticals by 600.0% in the fourth quarter. Manchester Capital Management LLC now owns 84 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 72 shares during the period. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

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.