JPMorgan Chase & Co. Has Lowered Expectations for Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Price

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target lowered by equities researchers at JPMorgan Chase & Co. from $420.00 to $400.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 48.84% from the company’s previous close.

ALNY has been the subject of several other reports. Wall Street Zen lowered shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 7th. Wells Fargo & Company increased their target price on shares of Alnylam Pharmaceuticals from $376.00 to $377.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Truist Financial lowered their target price on shares of Alnylam Pharmaceuticals from $505.00 to $410.00 and set a “buy” rating for the company in a report on Monday, July 13th. HC Wainwright lifted their price target on shares of Alnylam Pharmaceuticals from $470.00 to $485.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Citigroup began coverage on shares of Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They set a “buy” rating and a $380.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $452.13.

Alnylam Pharmaceuticals Price Performance

NASDAQ:ALNY opened at $268.74 on Wednesday. The firm has a market capitalization of $35.88 billion, a price-to-earnings ratio of 73.43 and a beta of 0.27. Alnylam Pharmaceuticals has a 1 year low of $262.21 and a 1 year high of $495.55. The business has a 50 day simple moving average of $292.52 and a 200-day simple moving average of $316.95. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.13 and a quick ratio of 3.06.

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

Insiders Place Their Bets

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total value of $1,145,859.40. Following the sale, the director owned 1,582 shares in the company, valued at $473,302.76. This trade represents a 70.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALNY. Assenagon Asset Management S.A. grew its holdings in shares of Alnylam Pharmaceuticals by 20.8% in the second quarter. Assenagon Asset Management S.A. now owns 155,695 shares of the biopharmaceutical company’s stock worth $46,869,000 after purchasing an additional 26,799 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Alnylam Pharmaceuticals by 7.9% during the 1st quarter. Parallel Advisors LLC now owns 891 shares of the biopharmaceutical company’s stock valued at $295,000 after buying an additional 65 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Alnylam Pharmaceuticals by 8.3% in the 1st quarter. Glenmede Trust Co. NA now owns 731 shares of the biopharmaceutical company’s stock valued at $242,000 after buying an additional 56 shares during the period. Groupama Asset Managment boosted its position in Alnylam Pharmaceuticals by 2.5% in the 1st quarter. Groupama Asset Managment now owns 36,767 shares of the biopharmaceutical company’s stock valued at $12,165,000 after buying an additional 889 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new position in Alnylam Pharmaceuticals in the 1st quarter worth about $641,000. 92.97% of the stock is currently owned by institutional investors.

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.