Alnylam Pharmaceuticals (NASDAQ:ALNY) Issues Quarterly Earnings Results

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.36), Zacks reports. The business had revenue of $500.90 million for the quarter, compared to the consensus estimate of $532.91 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. The firm's revenue was down 33.3% compared to the same quarter last year. Alnylam Pharmaceuticals updated its FY 2024 guidance to EPS.

Alnylam Pharmaceuticals Stock Performance

NASDAQ ALNY traded up $7.32 on Friday, reaching $273.91. The stock had a trading volume of 866,294 shares, compared to its average volume of 829,415. Alnylam Pharmaceuticals has a 12-month low of $141.98 and a 12-month high of $304.39. The business's 50-day moving average price is $274.61 and its 200 day moving average price is $226.42. The stock has a market cap of $35.16 billion, a P/E ratio of -104.55 and a beta of 0.39.

Insider Transactions at Alnylam Pharmaceuticals

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lifted their target price on shares of Alnylam Pharmaceuticals from $366.00 to $384.00 and gave the stock a "buy" rating in a research note on Friday. Cantor Fitzgerald reiterated a "neutral" rating and set a $220.00 price target on shares of Alnylam Pharmaceuticals in a report on Friday, October 11th. Wells Fargo & Company lifted their price target on Alnylam Pharmaceuticals from $207.00 to $233.00 and gave the stock an "equal weight" rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, July 12th. Finally, Barclays boosted their price objective on shares of Alnylam Pharmaceuticals from $295.00 to $329.00 and gave the company an "overweight" rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, Alnylam Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $294.50.

Alnylam Pharmaceuticals Company Profile

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.