On August 7, Alnylam Pharmaceuticals declined 5.04% in regular trading, trading at $217.44/share, with turnover of $273 million. The stock continues to face selling pressure following its Q2 earnings release on July 30, which triggered a single-day drop of approximately 28%.
The primary catalyst remains the company's decision to lower its full-year net product revenue guidance to $4.70 billion-$5.10 billion from the prior range of $4.90 billion-$5.30 billion. While Q2 adjusted EPS of $1.84 beat estimates of $1.55 by 18.7%, revenue of $1.291 billion fell short of the $1.323 billion consensus. Management acknowledged that the early stages of the Amvuttra launch in ATTR-CM benefited from pent-up demand, particularly from patients who had stopped responding to tafamidis, and that second-line demand is now normalizing.
Multiple analysts have subsequently cut price targets. RBC lowered its target from $445 to $350, while maintaining an Outperform rating but noting the company now characterizes its 25%+ revenue CAGR through 2030 as an ambition rather than formal guidance. Despite the share price weakness being described as overdone by some analysts, the market continues to digest concerns over slowing growth trajectory.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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