Alnylam Pharmaceuticals (NASDAQ:ALNY) Releases Quarterly Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• Alnylam beat quarterly EPS expectations, reporting $1.84 per share versus the $1.63 consensus estimate. Revenue rose 66.9% year over year to $1.29 billion but came in below the $1.32 billion forecast.
• AMVUTTRA drove record growth, with TTR revenue reaching $1.03 billion and total net product revenue increasing 74% to roughly $1.2 billion. However, Alnylam lowered its 2026 TTR revenue guidance by $200 million at the midpoint, citing normalized second-line demand.
• Shares fell sharply to $203.25, while analysts maintained a consensus “Moderate Buy” rating and an average price target of $452.13. The company also announced a China commercialization partnership for AMVUTTRA and reiterated confidence in its TRITON-CM study.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.21, FiscalAI reports. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Alnylam Pharmaceuticals had a net margin of 11.72% and a return on equity of 85.76%. Alnylam Pharmaceuticals's quarterly revenue was up 66.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.51) earnings per share.

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

• AMVUTTRA delivered record growth, with TTR revenue reaching $1.03 billion and total net product revenue rising 74% year over year to approximately $1.2 billion in Q2. AMVUTTRA revenue exceeded $1 billion for the first time, implying an annualized run rate above $4 billion.
• Alnylam lowered 2026 TTR revenue guidance by $200 million at the midpoint to $4.2 billion-$4.5 billion, citing normalization of pent-up second-line demand after the initial launch. Total net product revenue guidance is now $4.7 billion-$5.1 billion.
• Management emphasized strong long-term commercial fundamentals, including approximately 80% of new treatment starts coming from the first-line setting, more than 90% adherence, broad reimbursement access, and over 1,700 new prescribers added since the ATTR-CM launch. The company also sees potential benefit from the expected mid-2031 U.S. generic entry for tafamidis and AstraZeneca’s unsuccessful CARDIO-TTRansform study.
• The company announced a collaboration with BeOne to commercialize and distribute AMVUTTRA in mainland China and Macau, subject to regulatory approval. Alnylam is also expanding AI partnerships focused on drug discovery, disease identification, and earlier ATTR-CM diagnosis.
• Alnylam maintained confidence in the ongoing TRITON-CM study of nucresiran despite the competing eplontersen trial failure, citing differences in molecule characteristics, study design, and prior RNAi data. Management may adjust enrollment or the statistical analysis plan after reviewing the full competitor data, while several pipeline readouts are expected in the second half of 2026.

Alnylam Pharmaceuticals Price Performance

Shares of NASDAQ ALNY traded down $83.37 during trading on Thursday, reaching $203.25. The company had a trading volume of 6,433,743 shares, compared to its average volume of 1,335,165. Alnylam Pharmaceuticals has a 52 week low of $199.88 and a 52 week high of $495.55. The business's 50 day moving average price is $291.70 and its 200-day moving average price is $313.42. The stock has a market cap of $27.14 billion, a PE ratio of 55.53 and a beta of 0.27. The company has a debt-to-equity ratio of 0.94, a quick ratio of 3.06 and a current ratio of 3.13.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, Director David E. I. Pyott sold 3,830 shares of the company's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $299.18, for a total transaction of $1,145,859.40. Following the transaction, the director owned 1,582 shares of the company's stock, valued at approximately $473,302.76. This represents a 70.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Alnylam Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALNY. Brighton Jones LLC acquired a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter worth approximately $243,000. Rothschild Wealth LLC acquired a new stake in Alnylam Pharmaceuticals during the 4th quarter worth $418,000. Picton Mahoney Asset Management bought a new stake in shares of Alnylam Pharmaceuticals during the 4th quarter valued at $371,000. denkapparat Operations GmbH acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $363,000. Finally, Banco Santander S.A. acquired a new position in shares of Alnylam Pharmaceuticals in the 4th quarter valued at $291,000. 92.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALNY has been the topic of several research reports. Wall Street Zen upgraded shares of Alnylam Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 25th. Morgan Stanley increased their target price on shares of Alnylam Pharmaceuticals from $370.00 to $400.00 and gave the company an "equal weight" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. lowered their price target on Alnylam Pharmaceuticals from $420.00 to $400.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 22nd. Truist Financial cut their price target on Alnylam Pharmaceuticals from $505.00 to $410.00 and set a "buy" rating for the company in a report on Monday, July 13th. Finally, Royal Bank Of Canada reduced their price objective on Alnylam Pharmaceuticals from $450.00 to $445.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $452.13.

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.

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