Alnylam Q2 revenue rises 67% on increased demand for AMVUTTRA

Overview

• RNAi therapeutics maker's Q2 revenue rose 67% yr/yr but missed analyst expectations

• Adjusted EPS for Q2 beat analyst expectations

• Company lowered full-year TTR revenue guidance due to normalized second-line demand for AMVUTTRA

Outlook

• Alnylam lowers 2026 TTR net product revenue guidance to $4.2 bln-$4.5 bln

• Company maintains 2026 Rare net product revenue guidance at $500 mln-$600 mln

• Alnylam expects 2026 net revenues from collaborations and royalties of $575 mln-$625 mln

Result Drivers

• AMVUTTRA DEMAND - Growth in Q2 revenue was primarily driven by increased patient demand for AMVUTTRA, especially among U.S. patients with ATTR-CM

• NORMALIZED SECOND-LINE DEMAND - Co said initial pent-up demand for AMVUTTRA in the U.S. second-line segment has normalized, leading to revised full-year TTR revenue guidance

• INTERNATIONAL TTR GROWTH - International TTR revenues rose, driven by increased demand in both hATTR-PN and ATTR-CM across international markets

Company press release: ID:nBw4PpqRGa

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 23 "strong buy" or "buy", 7 "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 $436.50, about 52.3% above its July 29 closing price of $286.62

• The stock recently traded at 31 times the next 12-month earnings vs. a P/E of 43 three months ago

Reuters Recommended Reads

• July 29 - Ionis Q2 adjusted operating loss narrows

• July 29 - Biogen Q2 revenue beats expectations on strong product demand

• July 30 - Madrigal Pharmaceuticals Q2 revenue rises 71% on Rezdiffra demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)