Alnylam Pharmaceuticals Inc. (NASDAQ:ALNY) dropped 2.9% during mid-day trading on Wednesday . The company traded as low as $75.26 and last traded at $75.85, with a volume of 221,169 shares. The stock had previously closed at $78.09.

ALNY has been the subject of a number of research analyst reports. Jefferies Group reiterated a “buy” rating and issued a $80.00 target price (down previously from $119.00) on shares of Alnylam Pharmaceuticals in a research report on Wednesday, June 8th. Zacks Investment Research downgraded shares of Alnylam Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, July 25th. FBR & Co restated an “outperform” rating and set a $180.00 price target on shares of Alnylam Pharmaceuticals in a report on Tuesday, July 5th. Morgan Stanley set a $93.00 price target on shares of Alnylam Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 6th. Finally, Chardan Capital restated a “buy” rating on shares of Alnylam Pharmaceuticals in a report on Monday, July 11th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $113.62.

The stock has a 50 day moving average of $73.11 and a 200-day moving average of $65.47. The company’s market cap is $6.67 billion.

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Alnylam Pharmaceuticals (NASDAQ:ALNY) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($1.05) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.24) by $0.19. The business had revenue of $8.70 million for the quarter, compared to analyst estimates of $8.09 million. Alnylam Pharmaceuticals had a negative net margin of 1,204.91% and a negative return on equity of 29.60%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.85) earnings per share. Equities research analysts predict that Alnylam Pharmaceuticals Inc. will post ($4.65) earnings per share for the current fiscal year.

In other news, CEO John Maraganore sold 30,151 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $64.69, for a total value of $1,950,468.19. Following the sale, the chief executive officer now owns 148,465 shares of the company’s stock, valued at $9,604,200.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.00% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. raised its stake in Alnylam Pharmaceuticals by 2,138.1% in the second quarter. Macquarie Group Ltd. now owns 20,143 shares of the biopharmaceutical company’s stock valued at $1,118,000 after buying an additional 19,243 shares during the period. Royal Bank of Canada raised its stake in Alnylam Pharmaceuticals by 63.0% in the second quarter. Royal Bank of Canada now owns 51,314 shares of the biopharmaceutical company’s stock valued at $2,847,000 after buying an additional 19,827 shares during the period. Public Employees Retirement System of Ohio raised its stake in Alnylam Pharmaceuticals by 3.6% in the second quarter. Public Employees Retirement System of Ohio now owns 28,961 shares of the biopharmaceutical company’s stock valued at $1,607,000 after buying an additional 1,000 shares during the period. Calvert Investment Management Inc. raised its stake in Alnylam Pharmaceuticals by 0.8% in the second quarter. Calvert Investment Management Inc. now owns 4,313 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 36 shares during the period. Finally, Amalgamated Bank purchased a new stake in Alnylam Pharmaceuticals during the second quarter valued at about $859,000. 85.96% of the stock is currently owned by institutional investors and hedge funds.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company. The Company is engaged in developing therapeutics based on ribonucleic acid (RNA) interference (RNAi). It is focused on the use of its N-acetylgalactosamine (GalNAc)-conjugate strategy for delivery of small interfering RNAs (siRNAs). Its pipeline of investigational RNAi therapeutics focuses in three Strategic Therapeutic Areas (STArs): Genetic Medicines; Cardio-Metabolic Disease, and Hepatic Infectious Disease.

5 Day Chart for NASDAQ:ALNY

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