JPMorgan Chase & Co. Cuts Alnylam Pharmaceuticals (NASDAQ:ALNY) Price Target to $369.00

by · The Markets Daily

Alnylam Pharmaceuticals (NASDAQ:ALNY – Free Report) had its price target reduced by JPMorgan Chase & Co. from $375.00 to $369.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company’s stock.

Other research analysts have also issued research reports about the company. Bank of America dropped their target price on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Chardan Capital reissued a “buy” rating and set a $425.00 price target on shares of Alnylam Pharmaceuticals in a research note on Friday, July 31st. Sanford C. Bernstein reissued a “buy” rating on shares of Alnylam Pharmaceuticals in a research note on Monday, August 31st. Citigroup dropped their price objective on Alnylam Pharmaceuticals from $380.00 to $340.00 and set a “buy” rating for the company in a report on Monday, August 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $366.90.

Check Out Our Latest Stock Analysis on Alnylam Pharmaceuticals

Alnylam Pharmaceuticals Price Performance

Alnylam Pharmaceuticals stock opened at $219.72 on Wednesday. The firm has a 50-day moving average price of $241.38 and a 200-day moving average price of $280.63. The firm has a market capitalization of $29.40 billion, a PE ratio of 40.84 and a beta of 0.28. The company has a current ratio of 3.05, a quick ratio of 2.99 and a debt-to-equity ratio of 0.75. Alnylam Pharmaceuticals has a 12-month low of $197.81 and a 12-month high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned ($0.51) EPS. The firm’s revenue for the quarter was up 66.9% compared to the same quarter last year. As a group, equities research analysts forecast that Alnylam Pharmaceuticals will post 6.71 EPS for the current year.

Institutional Trading of Alnylam Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of ALNY. Wellington Management Group LLP raised its stake in shares of Alnylam Pharmaceuticals by 9.0% during the 2nd quarter. Wellington Management Group LLP now owns 2,110,407 shares of the biopharmaceutical company’s stock worth $635,296,000 after acquiring an additional 174,482 shares in the last quarter. Legal & General Group Plc acquired a new stake in Alnylam Pharmaceuticals in the second quarter valued at approximately $278,321,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alnylam Pharmaceuticals by 7.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 727,848 shares of the biopharmaceutical company’s stock valued at $219,104,000 after acquiring an additional 50,329 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in Alnylam Pharmaceuticals in the second quarter worth $148,128,000. Finally, Swiss National Bank grew its holdings in Alnylam Pharmaceuticals by 7.9% in the first quarter. Swiss National Bank now owns 387,720 shares of the biopharmaceutical company’s stock worth $128,285,000 after purchasing an additional 28,520 shares during the last quarter. Institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

(Get Free Report)

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi), a biological process that can selectively reduce the production of disease-causing proteins. The company was founded in 2002 and is headquartered in Cambridge, Massachusetts.

Alnylam’s commercial products include ONPATTRO (patisiran), an RNAi therapy for hereditary transthyretin-mediated amyloidosis with polyneuropathy; GIVLAARI (givosiran), for acute hepatic porphyria; OXLUMO (lumasiran), for primary hyperoxaluria type 1; and AMVUTTRA (vutrisiran), for transthyretin-mediated amyloidosis.

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