Alnylam Q1 net product revenue jumps 121%, adjusted EPS beats estimates

Overview

• RNAi therapeutics developer's Q1 net product revenue rose 121% yr/yr

• Adjusted EPS for Q1 beat analyst expectations

• Company reiterated 2026 financial guidance and highlighted strong AMVUTTRA demand

Outlook

• Alnylam reiterates 2026 guidance for total net product revenues of $4.9 bln to $5.3 bln

• Company expects 2026 total TTR net product revenues of $4.4 bln to $4.7 bln

• Alnylam anticipates multiple clinical readouts in H2 2026 to support long-term growth

Result Drivers

• AMVUTTRA DEMAND - Q1 revenue growth was primarily driven by increased patient demand for AMVUTTRA, especially for ATTR-CM in the U.S.

• RARE DISEASE PORTFOLIO - Growth in GIVLAARI and OXLUMO revenues contributed to higher total net product revenues

• ROYALTY REVENUE - Higher royalty revenue was driven by increased volume and rate of royalties from global net sales of Leqvio by Novartis

Company press release: ID:nBw5TRqBGa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for Alnylam Pharmaceuticals Inc is $448.00, about 48.7% above its April 29 closing price of $301.19

• The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 58 three months ago

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