Alnylam Pharmaceuticals (NASDAQ:ALNY) Issues Quarterly Earnings Results, Beats Expectations By $0.49 EPS

Key Points

• Alnylam reported Q1 EPS of $1.99, beating consensus by $0.49, and revenue of $1.17 billion (up ~96% YoY) driven by combined net product revenues of $1.036 billion and $910 million in TTR sales.
• Commercial momentum continues with the AMVUTTRA ATTR‑CM launch (>1,200 new U.S. prescribers and >90% adherence), expanding international reimbursement, and management reiterated FY‑2026 revenue guidance of $5.3–$5.8 billion.
• Risks include rising costs—non‑GAAP R&D +39% and SG&A +36%—which pushed gross margin down to ~80%, a modest net margin (~6.4%), a high P/E (~181), and recent insider stock sales.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) announced its earnings results on Thursday. The biopharmaceutical company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.49, FiscalAI reports. Alnylam Pharmaceuticals had a net margin of 6.43% and a return on equity of 69.02%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same period in the previous year, the business posted ($0.44) earnings per share. The firm's quarterly revenue was up 96.4% compared to the same quarter last year.

Here are the key takeaways from Alnylam Pharmaceuticals' conference call:

• Alnylam reported a landmark commercial quarter with $1.036 billion in combined net product revenues (up 121% YoY), $910 million in TTR revenue, continued GAAP/non‑GAAP profitability, and reiterated 2026 guidance.
• The AMVUTTRA ATTR‑CM launch showed strong momentum — >1,200 new U.S. prescribers, >90% adherence/persistence in real‑world data, durable first‑line access and expanding international reimbursement (including Japan and multiple European markets).
• R&D progress accelerated: vutrisiran and zilebesiran data presented at ACC, a Phase I start for ALN‑2232, and TRITON‑CM enrollment beating expectations with a planned increase to ~1,750 patients while still targeting a 2030 launch if positive.
• Costs and margin pressures rose as non‑GAAP R&D (+39%) and SG&A (+36%) increased to support multiple Phase III programs, while gross margin fell to 80% mainly due to higher AMVUTTRA royalties tied to the annual reset.
• Alnylam reiterated its ambitious Alnylam 2030 goals — two new transformative medicines beyond TTR, RNAi delivery to ≥10 tissues, and ~30% revenue reinvestment in R&D — which are strategically positive but carry execution risk and long timelines.

Alnylam Pharmaceuticals Price Performance

Shares of Alnylam Pharmaceuticals stock traded up $8.30 during trading hours on Thursday, hitting $309.49. The company's stock had a trading volume of 2,192,078 shares, compared to its average volume of 1,018,268. The company has a market cap of $41.30 billion, a PE ratio of 180.99 and a beta of 0.39. The company has a debt-to-equity ratio of 1.28, a quick ratio of 2.71 and a current ratio of 2.76. The business has a 50 day moving average price of $320.11 and a two-hundred day moving average price of $377.45. Alnylam Pharmaceuticals has a 12-month low of $245.96 and a 12-month high of $495.55.

Key Stories Impacting Alnylam Pharmaceuticals

Here are the key news stories impacting Alnylam Pharmaceuticals this week:

• Positive Sentiment: Q1 results beat expectations: Alnylam reported $1.99 EPS and $1.17B in revenue, both above consensus, driven by strong product sales and ~96% YoY revenue growth — the beat is the primary near-term catalyst. Alnylam Pharmaceuticals (ALNY) Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Brokerage sentiment remains constructive: firms continue to recommend buys (consensus rated “Moderate Buy” and notable shops reiterating coverage), which supports demand for the shares post-earnings. Alnylam Pharmaceuticals, Inc. NASDAQ: ALNY Given Consensus Recommendation of "Moderate Buy" by Brokerages
• Neutral Sentiment: FY‑2026 revenue guidance issued as a range ($5.3B–$5.8B) that overlaps Street estimates — the midpoint is roughly in line with consensus but the wide band leaves execution risk/uncertainty for investors. View Press Release / Guidance Slide
• Neutral Sentiment: Earnings call / transcript available — management commentary and pipeline updates will determine whether the beat translates into durable upside; read the transcript for product-level trends and cadence. Alnylam Q1 2026 Earnings Call Transcript
• Negative Sentiment: Valuation and technicals could cap upside: the stock trades below its 50‑ and 200‑day moving averages and carries a high P/E (~181), so despite the beat investors may remain cautious on multiple expansion. ALNY Stock Profile
• Negative Sentiment: Profitability still mixed: net margin is modest (~6.4%) despite revenue growth and the company has leverage on the balance sheet (debt/equity ~1.28), which could limit upside if margins don’t improve. ALNY Stock Profile

Insider Activity

In related news, EVP Jeffrey V. Poulton sold 2,206 shares of Alnylam Pharmaceuticals stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $327.65, for a total transaction of $722,795.90. Following the sale, the executive vice president owned 64,273 shares of the company's stock, valued at approximately $21,059,048.45. This trade represents a 3.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pushkal Garg sold 1,775 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $319.74, for a total value of $567,538.50. Following the completion of the transaction, the executive vice president directly owned 23,406 shares in the company, valued at approximately $7,483,834.44. This represents a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,656 shares of company stock valued at $12,370,696 in the last three months. 0.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its holdings in Alnylam Pharmaceuticals by 0.3% in the 2nd quarter. Daiwa Securities Group Inc. now owns 12,941 shares of the biopharmaceutical company's stock valued at $4,220,000 after acquiring an additional 35 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Alnylam Pharmaceuticals by 100.0% during the fourth quarter. Golden State Wealth Management LLC now owns 72 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 36 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Alnylam Pharmaceuticals by 2.4% in the third quarter. Coldstream Capital Management Inc. now owns 1,640 shares of the biopharmaceutical company's stock worth $748,000 after purchasing an additional 38 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in shares of Alnylam Pharmaceuticals by 3.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,266 shares of the biopharmaceutical company's stock worth $577,000 after purchasing an additional 40 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Alnylam Pharmaceuticals by 6.0% in the third quarter. National Bank of Canada FI now owns 957 shares of the biopharmaceutical company's stock worth $436,000 after buying an additional 54 shares in the last quarter. Institutional investors own 92.97% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALNY. Freedom Capital upgraded shares of Alnylam Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 17th. Royal Bank Of Canada decreased their target price on Alnylam Pharmaceuticals from $500.00 to $465.00 and set an "outperform" rating on the stock in a report on Tuesday, January 20th. HC Wainwright reiterated a "buy" rating and set a $510.00 target price on shares of Alnylam Pharmaceuticals in a research report on Wednesday, March 25th. Wells Fargo & Company cut their price target on Alnylam Pharmaceuticals from $479.00 to $376.00 and set an "equal weight" rating for the company in a report on Tuesday, January 20th. Finally, Needham & Company LLC reduced their price target on Alnylam Pharmaceuticals from $529.00 to $510.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Alnylam Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $472.78.

Alnylam Pharmaceuticals Company Profile

Alnylam Pharmaceuticals, Inc NASDAQ: ALNY is a biopharmaceutical company focused on the discovery, development and commercialization of RNA interference (RNAi) therapeutics. Founded to translate the scientific discovery of RNAi into new medicines, Alnylam applies small interfering RNA (siRNA) technology to silence disease-causing genes. The company develops therapies designed to provide durable disease modification by targeting underlying genetic drivers across a range of rare and more prevalent conditions.

Alnylam has advanced multiple siRNA-based products into commercialization, initially using lipid nanoparticle delivery and more recently employing GalNAc-conjugate chemistry to enable targeted delivery to the liver with subcutaneous dosing.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.