Why Is Alnylam Pharmaceuticals Stock Trading Lower On Thursday?
Portfolio Pulse from Vandana Singh
Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) reported a Q4 2023 adjusted EPS loss of $(0.77), beating estimates but missing sales consensus with $439.72 million. The company updated its HELIOS-B Phase 3 study timeline for vutrisiran and received FDA clearance for a Phase 1 study of ALN-APP. It forecasts FY 2024 net product revenues of $1.4 billion-$1.5 billion. Analyst ratings include a Neutral from Cantor Fitzgerald with a $165 target and a Peer Perform from Wolfe Research. ALNY shares dropped 8.83% to $149.66.
February 15, 2024 | 8:29 pm
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NEGATIVE IMPACT
Alnylam Pharmaceuticals reported a better-than-expected Q4 EPS but missed sales forecasts. The company provided updates on its vutrisiran study and ALN-APP study, along with FY 2024 revenue guidance. Shares dropped 8.83%.
The drop in ALNY's stock price can be attributed to the missed sales consensus and the market's reaction to the updated timelines for the HELIOS-B Phase 3 study. Despite beating EPS estimates, the sales miss and the immediate negative price action indicate a short-term bearish outlook. The updates on the vutrisiran study and FDA clearance for the ALN-APP study are significant, but the immediate market reaction focuses on the financial miss and the potential implications of the study updates.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100