Alnylam Pharmaceuticals (NASDAQ:ALNY) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Alnylam Pharmaceuticals (NASDAQ:ALNY - Free Report) from a neutral rating to an overweight rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has $328.00 price target on the biopharmaceutical company's stock, up from their previous price target of $280.00.

Other equities analysts have also issued research reports about the stock. Citigroup increased their price target on shares of Alnylam Pharmaceuticals from $338.00 to $351.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Needham & Company LLC reissued a "buy" rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research report on Friday, March 21st. Morgan Stanley raised their target price on Alnylam Pharmaceuticals from $275.00 to $284.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on Alnylam Pharmaceuticals from $310.00 to $330.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Finally, HC Wainwright raised their price objective on Alnylam Pharmaceuticals from $400.00 to $500.00 and gave the company a "buy" rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $312.30.

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Alnylam Pharmaceuticals Stock Performance

ALNY traded down $2.56 during midday trading on Monday, reaching $268.46. The company had a trading volume of 683,886 shares, compared to its average volume of 830,396. The business has a 50-day moving average price of $259.86 and a two-hundred day moving average price of $260.50. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The stock has a market cap of $34.92 billion, a PE ratio of -123.71 and a beta of 0.39. The company has a debt-to-equity ratio of 15.27, a quick ratio of 2.71 and a current ratio of 2.78.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported ($0.65) earnings per share for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.03). On average, sell-side analysts expect that Alnylam Pharmaceuticals will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CMO Pushkal Garg sold 52,592 shares of the firm's stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $285.00, for a total value of $14,988,720.00. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kevin Joseph Fitzgerald sold 1,440 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $251.56, for a total transaction of $362,246.40. Following the sale, the executive vice president now directly owns 12,881 shares of the company's stock, valued at approximately $3,240,344.36. This represents a 10.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,234 shares of company stock worth $19,958,097. Corporate insiders own 1.50% of the company's stock.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Regeneron Pharmaceuticals Inc. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $1,045,822,000. Norges Bank purchased a new stake in shares of Alnylam Pharmaceuticals in the 4th quarter valued at about $577,941,000. Capital Research Global Investors boosted its position in shares of Alnylam Pharmaceuticals by 32.9% in the 4th quarter. Capital Research Global Investors now owns 6,968,513 shares of the biopharmaceutical company's stock valued at $1,639,767,000 after purchasing an additional 1,724,610 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Alnylam Pharmaceuticals by 39.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,384,449 shares of the biopharmaceutical company's stock valued at $1,031,705,000 after purchasing an additional 1,245,195 shares during the period. Finally, Marshall Wace LLP grew its stake in Alnylam Pharmaceuticals by 496.6% during the 4th quarter. Marshall Wace LLP now owns 378,649 shares of the biopharmaceutical company's stock worth $89,100,000 after buying an additional 315,182 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.