Alnylam Pharmaceuticals (NASDAQ:ALNY) Given New $369.00 Price Target at JPMorgan Chase & Co.

Alnylam Pharmaceuticals (NASDAQ:ALNY) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $375.00 to $369.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the biopharmaceutical company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 47.10% from the company’s current price.

A number of other research firms have also recently commented on ALNY. Truist Financial dropped their target price on Alnylam Pharmaceuticals from $410.00 to $315.00 and set a “buy” rating on the stock in a research report on Tuesday, August 4th. HC Wainwright reiterated a “buy” rating and set a $455.00 price target on shares of Alnylam Pharmaceuticals in a research report on Monday, September 21st. Bank of America dropped their price objective on Alnylam Pharmaceuticals from $460.00 to $410.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. TD Cowen restated a “buy” rating on shares of Alnylam Pharmaceuticals in a research report on Monday, August 31st. Finally, Stifel Nicolaus reduced their target price on Alnylam Pharmaceuticals from $444.00 to $318.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $366.90.

Alnylam Pharmaceuticals Stock Performance

Shares of ALNY traded down $3.23 during trading hours on Wednesday, hitting $250.84. The stock had a trading volume of 326,293 shares, compared to its average volume of 1,443,055. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.99 and a current ratio of 3.05. The firm has a 50-day moving average price of $243.57 and a 200 day moving average price of $282.13. Alnylam Pharmaceuticals has a fifty-two week low of $197.81 and a fifty-two week high of $495.55. The firm has a market capitalization of $33.57 billion, a price-to-earnings ratio of 46.66 and a beta of 0.31.

Alnylam Pharmaceuticals (NASDAQ:ALNY) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.63 by $0.21. Alnylam Pharmaceuticals had a net margin of 15.26% and a return on equity of 84.93%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned ($0.51) earnings per share. The firm’s revenue was up 66.9% on a year-over-year basis. As a group, research analysts anticipate that Alnylam Pharmaceuticals will post 6.71 EPS for the current year.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. grew its holdings in shares of Alnylam Pharmaceuticals by 16.5% in the second quarter. QRG Capital Management Inc. now owns 2,652 shares of the biopharmaceutical company’s stock valued at $798,000 after purchasing an additional 375 shares during the period. Anchor Investment Management LLC grew its stake in shares of Alnylam Pharmaceuticals by 20.2% in the 2nd quarter. Anchor Investment Management LLC now owns 3,389 shares of the biopharmaceutical company’s stock valued at $1,020,000 after buying an additional 570 shares during the period. National Pension Service grew its stake in shares of Alnylam Pharmaceuticals by 7.9% in the 2nd quarter. National Pension Service now owns 198,295 shares of the biopharmaceutical company’s stock valued at $59,693,000 after buying an additional 14,506 shares during the period. WINTON GROUP Ltd acquired a new stake in shares of Alnylam Pharmaceuticals during the 2nd quarter worth approximately $2,372,000. Finally, Engineers Gate Manager LP raised its position in shares of Alnylam Pharmaceuticals by 3.0% during the 2nd quarter. Engineers Gate Manager LP now owns 33,469 shares of the biopharmaceutical company’s stock valued at $10,075,000 after buying an additional 967 shares during the period. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Alnylam Pharmaceuticals Company Profile

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.