Alnylam Pharmaceuticals (NASDAQ:ALNY) Announces Earnings Results

Alnylam Pharmaceuticals (NASDAQ:ALNY) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.61, Briefing.com reports. The business had revenue of $659.83 million during the quarter, compared to the consensus estimate of $447.22 million. The firm’s revenue for the quarter was up 107.0% compared to the same quarter last year. During the same quarter last year, the company earned ($2.21) EPS. Alnylam Pharmaceuticals updated its FY 2024 guidance to EPS.

Alnylam Pharmaceuticals Trading Up 1.3 %

Shares of NASDAQ ALNY opened at $272.05 on Friday. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of -101.51 and a beta of 0.37. Alnylam Pharmaceuticals has a 1-year low of $141.98 and a 1-year high of $274.93. The stock’s 50-day moving average is $208.99 and its 200 day moving average is $174.56.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $234.00 price target on shares of Alnylam Pharmaceuticals in a research note on Monday, June 24th. Raymond James increased their price target on Alnylam Pharmaceuticals from $242.00 to $275.00 and gave the stock an “outperform” rating in a research note on Friday. Morgan Stanley increased their price objective on Alnylam Pharmaceuticals from $250.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, July 12th. Royal Bank of Canada increased their price objective on Alnylam Pharmaceuticals from $265.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Chardan Capital reissued a “buy” rating and set a $225.00 price objective on shares of Alnylam Pharmaceuticals in a report on Friday, May 3rd. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Alnylam Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $269.32.

Insider Activity at Alnylam Pharmaceuticals

In related news, CEO Yvonne Greenstreet sold 8,301 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total transaction of $1,917,447.99. Following the transaction, the chief executive officer now directly owns 80,534 shares in the company, valued at approximately $18,602,548.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director David E. I. Pyott sold 32,450 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $220.69, for a total transaction of $7,161,390.50. Following the transaction, the director now directly owns 136 shares in the company, valued at approximately $30,013.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Yvonne Greenstreet sold 8,301 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $230.99, for a total value of $1,917,447.99. Following the completion of the sale, the chief executive officer now owns 80,534 shares in the company, valued at $18,602,548.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,598 shares of company stock valued at $19,377,944. Corporate insiders own 1.50% of the company’s stock.

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.