Alnylam Pharmaceuticals (NASDAQ:ALNY) Raised to Overweight at JPMorgan Chase & Co.

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

Several other equities research analysts have also commented on the company. Scotiabank upped their price objective on Alnylam Pharmaceuticals from $300.00 to $338.00 and gave the stock a “sector outperform” rating in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Alnylam Pharmaceuticals from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a report on Friday. Royal Bank of Canada upped their price objective on shares of Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, StockNews.com lowered Alnylam Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $312.30.

Alnylam Pharmaceuticals Trading Up 11.8 %

NASDAQ ALNY opened at $283.34 on Monday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $304.39. 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 company has a market capitalization of $36.68 billion, a PE ratio of -130.57 and a beta of 0.39. The company has a fifty day moving average of $257.16 and a 200 day moving average of $259.74.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Research analysts forecast that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current year.

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, EVP Kevin Joseph Fitzgerald sold 663 shares of Alnylam Pharmaceuticals stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $255.21, for a total transaction of $169,204.23. Following the transaction, the executive vice president now directly owns 14,321 shares of the company’s stock, valued at $3,654,862.41. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $285.00, for a total transaction of $14,988,720.00. Following the completion of the sale, the chief marketing officer now directly owns 11,989 shares of the company’s stock, valued at approximately $3,416,865. This trade represents a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,234 shares of company stock valued at $19,958,097 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Natixis Advisors LLC purchased a new stake in Alnylam Pharmaceuticals in the third quarter valued at $2,751,000. Mutual of America Capital Management LLC raised its holdings in Alnylam Pharmaceuticals by 26.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 1,924 shares of the biopharmaceutical company’s stock valued at $529,000 after buying an additional 405 shares during the period. Pathstone Holdings LLC lifted its position in Alnylam Pharmaceuticals by 11.2% in the third quarter. Pathstone Holdings LLC now owns 6,249 shares of the biopharmaceutical company’s stock valued at $1,719,000 after buying an additional 629 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Alnylam Pharmaceuticals by 1.2% during the third quarter. PNC Financial Services Group Inc. now owns 12,543 shares of the biopharmaceutical company’s stock worth $3,450,000 after buying an additional 144 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Alnylam Pharmaceuticals by 4.1% during the third quarter. Advisors Asset Management Inc. now owns 4,767 shares of the biopharmaceutical company’s stock valued at $1,311,000 after acquiring an additional 189 shares during the last quarter. Hedge funds and other institutional investors 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.