Alnylam Pharmaceuticals (NASDAQ:ALNY) Releases Quarterly Earnings Results, Beats Estimates By $14.60 EPS

Key Points

• Alnylam exceeded quarterly expectations: EPS came in at $16.26 versus the $1.66 consensus estimate, while revenue reached $1.46 billion, up 16.7% year over year and above forecasts.
• Product momentum remained strong, with quarterly product revenue rising 52% to approximately $1.3 billion, driven by AMVUTTRA and 59% growth in TTR revenue to $1.15 billion.
• Management flagged near-term pressure on growth: 2026 TTR revenue is expected at the low end of the $4.2 billion–$4.5 billion range, while expanded commercial efforts, 340B rule changes and tighter UnitedHealth access may weigh on demand. Early brezosiran data provided a potential longer-term pipeline catalyst.

Alnylam Pharmaceuticals (NASDAQ:ALNY - Get Free Report) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported $16.26 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $14.60, FiscalAI reports. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.43 billion. Alnylam Pharmaceuticals had a return on equity of 84.93% and a net margin of 15.26%. The company's revenue was up 16.7% on a year-over-year basis. During the same quarter last year, the company earned $2.90 EPS.

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

• Q3 product revenue rose 52% year over year to approximately $1.3 billion, driven by AMVUTTRA and 59% growth in TTR revenue to $1.15 billion. Alnylam also ended the quarter with $3.6 billion in cash and marketable securities.
• Management expects 2026 TTR revenue at the low end of its $4.2 billion–$4.5 billion range, acknowledging that expanded commercial efforts have not yet translated into demand growth as quickly as anticipated. Potential fourth-quarter ordering volatility from the 340B rule and tighter UnitedHealth Medicare Advantage access may add pressure.
• Alnylam will expand the TRITON-CM study for nucresiran by 500 patients to approximately 2,250, primarily to account for potentially lower event rates as patients are diagnosed earlier and receive better background treatment. The company said the change is intended to improve statistical power and does not alter the expected ATTR cardiomyopathy launch timing of around 2030.
• Early brezosiran data in Huntington’s disease showed 60%–64% mean reductions in cerebrospinal-fluid mutant huntingtin, with reductions of up to 83% and no dose-dependent safety signals reported to date. Alnylam plans to advance the program toward a pivotal study in 2027, pending regulatory alignment.

Alnylam Pharmaceuticals Price Performance

Shares of ALNY stock traded down $56.15 during mid-day trading on Thursday, hitting $176.25. The company had a trading volume of 5,526,494 shares, compared to its average volume of 1,459,797. The company has a market capitalization of $23.58 billion, a P/E ratio of 32.86 and a beta of 0.28. Alnylam Pharmaceuticals has a 52-week low of $178.89 and a 52-week high of $479.79. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.05 and a quick ratio of 2.99. The stock's 50 day moving average price is $239.15 and its 200-day moving average price is $288.34.

Insider Buying and Selling at Alnylam Pharmaceuticals

In other Alnylam Pharmaceuticals news, EVP Bryan Supran sold 1,758 shares of the company's stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $226.88, for a total transaction of $398,855.04. Following the sale, the executive vice president directly owned 12,807 shares in the company, valued at $2,905,652.16. This represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.86% of the company's stock.

Key Headlines Impacting Alnylam Pharmaceuticals

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

• Positive Sentiment: Q3 results exceeded expectations: Alnylam reported earnings of $16.26 per share, well above consensus estimates ranging from $1.66 to $2.19. Revenue reached $1.46 billion, topping the $1.43 billion analyst forecast. Alnylam Pharmaceuticals Q3 Earnings and Revenues Top Estimates
• Positive Sentiment: Revenue growth remained solid: Quarterly revenue increased 16.7% from the prior-year period, while the company posted a 15.26% net margin and 84.93% return on equity. Alnylam Pharmaceuticals Earnings Report
• Positive Sentiment: Brezosiran data supports the bullish case: A recent analysis argued that ALNY could be substantially undervalued following clinical data for brezosiran, potentially providing an additional pipeline catalyst. Alnylam Could Be 39% Undervalued Following Brezosiran Data
• Neutral Sentiment: Trading was briefly halted: ALNY experienced a Limit Up-Limit Down pause shortly after the open, highlighting unusually sharp volatility around the earnings release.
• Negative Sentiment: Investors may have viewed the stock as fully valued: Commentary before earnings described ALNY as potentially “fully priced” after a 52% decline, which may have limited the market’s reaction to the earnings beat. Alnylam Stock Looks Fully Priced
• Negative Sentiment: The earnings beat may not fully ease concerns: The unusually large EPS result compared with $2.90 a year earlier could prompt investors to scrutinize the composition and repeatability of quarterly earnings, while shares remain near their 12-month low and below key moving averages.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALNY shares. Wall Street Zen downgraded shares of Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Chardan Capital reiterated a "buy" rating and issued a $425.00 target price on shares of Alnylam Pharmaceuticals in a research report on Friday, July 31st. JPMorgan Chase & Co. cut their target price on Alnylam Pharmaceuticals from $375.00 to $369.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 30th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Alnylam Pharmaceuticals in a report on Wednesday, September 30th. Finally, Zacks Research lowered Alnylam Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Alnylam Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $360.52.

About Alnylam Pharmaceuticals

Alnylam Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing medicines based on RNA interference (RNAi). The company's therapies are designed to silence specific genes involved in disease, with the goal of addressing the underlying causes of genetic and other serious conditions.

Alnylam's marketed products include ONPATTRO (patisiran) and AMVUTTRA (vutrisiran) for hereditary transthyretin-mediated amyloidosis, GIVLAARI (givosiran) for acute hepatic porphyria, and OXLUMO (lumasiran) for primary hyperoxaluria type 1.

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