Alnylam Pharmaceuticals (NASDAQ:ALNY) Releases Quarterly Earnings Results, Misses Estimates By $0.36 EPS

Alnylam Pharmaceuticals (NASDAQ:ALNY) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.87) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.36), Zacks reports. The firm had revenue of $500.90 million for the quarter, compared to analyst estimates of $532.91 million. The business’s revenue was down 33.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. Alnylam Pharmaceuticals updated its FY 2024 guidance to EPS.

Alnylam Pharmaceuticals Stock Up 2.7 %

ALNY stock opened at $273.91 on Friday. Alnylam Pharmaceuticals has a 12 month low of $141.98 and a 12 month high of $304.39. The firm has a 50 day moving average of $274.61 and a two-hundred day moving average of $226.42. The company has a market capitalization of $35.16 billion, a price-to-earnings ratio of -104.55 and a beta of 0.39.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a research report on Friday, July 12th. TD Cowen increased their price target on Alnylam Pharmaceuticals from $282.00 to $371.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Needham & Company LLC restated a “buy” rating and set a $320.00 price objective on shares of Alnylam Pharmaceuticals in a research note on Friday. Cantor Fitzgerald reiterated a “neutral” rating and issued a $220.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, October 11th. Finally, Raymond James lifted their price target on Alnylam Pharmaceuticals from $275.00 to $298.00 and gave the company an “outperform” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alnylam Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $294.50.

Insider Buying and Selling

In other Alnylam Pharmaceuticals news, CEO Yvonne Greenstreet sold 15,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $280.00, for a total value of $4,200,000.00. Following the completion of the sale, the chief executive officer now owns 73,441 shares of the company’s stock, valued at $20,563,480. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Yvonne Greenstreet sold 15,000 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $280.00, for a total value of $4,200,000.00. Following the transaction, the chief executive officer now owns 73,441 shares of the company’s stock, valued at $20,563,480. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dennis A. Ausiello sold 20,250 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $262.00, for a total transaction of $5,305,500.00. Following the sale, the director now directly owns 136 shares of the company’s stock, valued at approximately $35,632. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

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.