Alnylam Pharmaceuticals (NASDAQ:ALNY) PT Raised to $280.00 at JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price target boosted by JPMorgan Chase & Co. from $248.00 to $280.00 in a research report released on Monday, Benzinga reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

Several other equities research analysts also recently commented on ALNY. Canaccord Genuity Group boosted their price objective on Alnylam Pharmaceuticals from $357.00 to $366.00 and gave the company a buy rating in a report on Friday, August 2nd. UBS Group lifted their price objective on shares of Alnylam Pharmaceuticals from $253.00 to $288.00 and gave the stock a buy rating in a report on Friday, June 28th. TD Cowen upped their price objective on shares of Alnylam Pharmaceuticals from $260.00 to $282.00 and gave the stock a buy rating in a research report on Tuesday, June 25th. StockNews.com upgraded Alnylam Pharmaceuticals from a hold rating to a buy rating in a report on Monday, April 29th. Finally, Leerink Partners boosted their target price on Alnylam Pharmaceuticals from $138.00 to $159.00 and gave the company a market perform rating in a research note on Tuesday, June 25th. Seven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $278.59.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ:ALNY opened at $287.01 on Monday. Alnylam Pharmaceuticals has a 1 year low of $141.98 and a 1 year high of $287.55. The business’s 50-day moving average is $254.02 and its 200-day moving average is $186.86. The company has a market capitalization of $36.30 billion, a price-to-earnings ratio of -107.09 and a beta of 0.37.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.61. The company had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. The business’s revenue was up 107.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.21) EPS. Analysts anticipate that Alnylam Pharmaceuticals will post -3.99 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

In related news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $220.69, for a total value of $7,161,390.50. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director David E. I. Pyott sold 32,450 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $220.69, for a total value of $7,161,390.50. Following the completion of the transaction, the director now directly owns 136 shares of the company’s stock, valued at $30,013.84. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total value of $5,305,500.00. Following the transaction, the director now owns 136 shares in the company, valued at approximately $35,632. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,148 shares of company stock worth $25,658,824. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Alnylam Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 11,994,261 shares of the biopharmaceutical company’s stock worth $1,792,542,000 after buying an additional 50,366 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Alnylam Pharmaceuticals by 5.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,685,753 shares of the biopharmaceutical company’s stock valued at $550,837,000 after purchasing an additional 201,784 shares during the last quarter. Capital International Investors grew its position in Alnylam Pharmaceuticals by 1.8% during the first quarter. Capital International Investors now owns 3,651,217 shares of the biopharmaceutical company’s stock valued at $545,674,000 after buying an additional 64,560 shares during the period. Capital Research Global Investors increased its stake in shares of Alnylam Pharmaceuticals by 7.3% in the 1st quarter. Capital Research Global Investors now owns 3,144,987 shares of the biopharmaceutical company’s stock worth $470,018,000 after purchasing an additional 214,908 shares in the last quarter. Finally, Norges Bank bought a new stake in Alnylam Pharmaceuticals during the fourth quarter valued at about $390,438,000. 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.