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Alnylam Pharmaceuticals Inc - Stock Quote ALNY

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Morningstar's Alnylam Pharmaceuticals Inc Stock Analysis

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Alnylam Posts Largely in Line Q1 Results Amid Macro Headwinds; FVE $158, Shares Fairly Valued

Rachel Elfman Equity Analyst

Analyst Note

| Rachel Elfman |

Alnylam reported first-quarter results highlighted by a 9% increase in patients on the company’s RNAi-based therapies. Quarterly net product revenue of $187 million represented a 38% increase from the prior-year period. Despite the increase in patients, first-quarter revenue decreased 6% compared with the fourth quarter of 2021, since the fourth quarter benefited from a variety of nonrecurring stocking and gross to net benefits. Alnylam also faced COVID-19 headwinds during the omicron surge due to reduced patient compliance. Nevertheless, product sales and pipeline developments are largely tracking our expectations and our long-term forecasts remain unchanged. We maintain our $158 per share fair value estimate, our narrow moat, and positive trend ratings. We view shares as fairly valued, currently trading in 3-star territory.

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Alnylam Pharmaceuticals Inc's Company Profile

Business Description

Alnylam Pharmaceuticals is a leader in the study of RNA interference (RNAi) therapeutics. RNAi is a naturally occurring biological pathway within cells for sequence-specific silencing and regulation of gene expression. Alnylam has four drugs on the market: Onpattro for hATTR amyloidosis, Givlaari for acute hepatic porphyria, Oxlumo for primary hyperoxaluria type 1, and Leqvio for hypercholesterolemia. The firm also has 12 clinical programs across the following therapeutic areas: genetic medicines; cardio-metabolic diseases; hepatic infectious diseases, and CNS/ocular diseases. Additionally, up-front fees from research partnerships have boosted Alnylam's cash levels, and the company stands to see additional milestones and royalties from drugs commercialized under collaboration partnerships.

675 West Kendall Street, Henri A. Termeer Square
Cambridge, MA, 02142
T +1 617 551-8200
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Distressed
Employees 1,665

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