Alnylam Pharmaceuticals (NASDAQ:ALNY) Shares Gap Up After Analyst Upgrade

Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY - Get Free Report)'s stock price gapped up prior to trading on Friday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $253.55, but opened at $261.82. JPMorgan Chase & Co. now has a $328.00 price target on the stock, up from their previous price target of $280.00. Alnylam Pharmaceuticals shares last traded at $274.34, with a volume of 692,627 shares trading hands.

Other equities analysts also recently issued research reports about the stock. 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. William Blair restated an "outperform" rating on shares of Alnylam Pharmaceuticals in a research report on Friday. StockNews.com cut Alnylam Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday. Needham & Company LLC reissued a "buy" rating and issued a $320.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday. Finally, Citigroup upped their price objective on Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $312.30.

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Insider Activity at Alnylam Pharmaceuticals

In other news, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total value of $362,246.40. Following the completion of the transaction, the executive vice president now owns 12,881 shares of the company's stock, valued at $3,240,344.36. The trade was a 10.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Pushkal Garg sold 52,592 shares of the company's 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 transaction, the chief marketing officer now directly owns 11,989 shares in the company, valued at $3,416,865. The trade was a 81.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,234 shares of company stock valued at $19,958,097 over the last quarter. Insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ALNY. Larson Financial Group LLC boosted its holdings in shares of Alnylam Pharmaceuticals by 187.2% during the fourth quarter. Larson Financial Group LLC now owns 112 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 73 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Alnylam Pharmaceuticals during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in Alnylam Pharmaceuticals in the 4th quarter worth about $33,000. OFI Invest Asset Management acquired a new position in Alnylam Pharmaceuticals during the fourth quarter worth approximately $35,000. Finally, Colonial Trust Co SC acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $35,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78. The company has a market cap of $37.89 billion, a price-to-earnings ratio of -134.87 and a beta of 0.39. The stock's fifty day simple moving average is $257.16 and its two-hundred day simple moving average is $259.74.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.03). Equities research analysts anticipate that Alnylam Pharmaceuticals, Inc. will post -1.7 EPS for the current year.

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.