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

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $420.00 to $400.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 49.34% from the company’s current price.

Several other research analysts also recently weighed in on the company. Citigroup began coverage on Alnylam Pharmaceuticals in a research note on Tuesday, May 19th. They set a “buy” rating and a $380.00 price target for the company. Morgan Stanley boosted their price objective on Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Royal Bank Of Canada dropped their price objective on shares of Alnylam Pharmaceuticals from $450.00 to $445.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Bank of America cut their target price on shares of Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating for the company in a research report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $452.13.

Alnylam Pharmaceuticals Price Performance

ALNY stock traded down $3.52 during mid-day trading on Wednesday, hitting $267.85. The stock had a trading volume of 157,434 shares, compared to its average volume of 1,295,326. The firm has a fifty day simple moving average of $293.50 and a 200 day simple moving average of $318.80. The firm has a market capitalization of $35.76 billion, a P/E ratio of 73.20 and a beta of 0.27. The company has a current ratio of 3.13, a quick ratio of 3.06 and a debt-to-equity ratio of 0.94. Alnylam Pharmaceuticals has a 52 week low of $266.27 and a 52 week high of $495.55.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $0.87 by $1.12. The company 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%.The business’s quarterly revenue was up 96.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.44) earnings per share. As a group, research analysts forecast that Alnylam Pharmaceuticals will post 7.3 EPS for the current year.

Insider Transactions at Alnylam Pharmaceuticals

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 transaction of $1,145,859.40. Following the sale, the director directly owned 1,582 shares in the company, valued at approximately $473,302.76. This trade represents a 70.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.86% of the company’s stock.

Institutional Trading of Alnylam Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Alnylam Pharmaceuticals in the 4th quarter worth approximately $243,000. Geneos Wealth Management Inc. increased its holdings in Alnylam Pharmaceuticals by 372.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 222 shares of the biopharmaceutical company’s stock worth $60,000 after acquiring an additional 175 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of Alnylam Pharmaceuticals in the second quarter worth $241,000. Daiwa Securities Group Inc. lifted its position in shares of Alnylam Pharmaceuticals by 0.3% in the second quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company’s stock valued at $4,220,000 after acquiring an additional 35 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Alnylam Pharmaceuticals by 70,300.0% during the 2nd quarter. NewEdge Advisors LLC now owns 704 shares of the biopharmaceutical company’s stock valued at $229,000 after purchasing an additional 703 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

About Alnylam Pharmaceuticals

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.