CAMBRIDGE, MA—Jeffrey V. Poulton, Executive Vice President and Chief Financial Officer of Alnylam Pharmaceuticals , Inc. (NASDAQ:ALNY), recently sold shares of the company's common stock valued at approximately $422,144. The transactions took place on November 26, 2024, with sale prices ranging from $247.77 to $252.27 per share.
The stock sales were part of a mandatory sell-to-cover provision to meet statutory tax withholding obligations. Following these transactions, Poulton retains direct ownership of 30,644 shares of Alnylam Pharmaceuticals.
Earlier, on November 25, 2024, Poulton acquired 3,434 shares through a performance-based stock unit grant, which vested upon meeting specific performance measures related to the company's therapeutic developments. These shares were acquired at no cost to Poulton.
In other recent news, Alnylam Pharmaceuticals has seen significant developments in its operations and product pipeline. The U.S. Food and Drug Administration (FDA) recently approved Alnylam's drug, Attruby, with BMO (TSX:BMO) Capital maintaining an Outperform rating for the company. Additionally, the FDA is currently reviewing Alnylam's supplemental New Drug Application for vutrisiran, a potential treatment for ATTR amyloidosis with cardiomyopathy.
Alnylam has also reported a substantial 34% year-over-year increase in global net product revenue, totaling $420 million, primarily driven by its transthyretin amyloidosis treatments. Analyst firms have varied opinions on Alnylam. While H.C. Wainwright and TD (TSX:TD) Cowen maintained their Buy ratings, expressing confidence in the company's drug development trajectory, Wolfe Research downgraded Alnylam's stock from Peer Perform to Underperform due to long-term value concerns.
Furthermore, Alnylam has ceased the ALN-KHK program for type 2 diabetes but remains open to business development opportunities. On the other hand, Canaccord Genuity (TSX:CF) maintained a Buy rating on Alnylam shares, commenting on recent developments in the market for treatments of ATTR-CM, a rare heart condition. The firm's analysis suggests that while Attruby is expected to compete with tafamidis, it is not seen as a direct competitor to Alnylam's Amvuttra. The approval and competitive pricing of Attruby are anticipated to lead to a quicker uptake than originally projected, although this is not expected to affect the firm's outlook on Amvuttra.
InvestingPro Insights
Alnylam Pharmaceuticals' recent stock activity, including the insider transactions by CFO Jeffrey V. Poulton, can be viewed in the context of the company's current financial position and market performance. According to InvestingPro data, Alnylam boasts a substantial market capitalization of $32.74 billion, reflecting its significant presence in the biotechnology sector.
The company's revenue growth of 21.54% over the last twelve months as of Q3 2024 demonstrates strong commercial momentum, which aligns with the performance-based stock grants awarded to executives like Poulton. This growth is particularly impressive given the company's high gross profit margin of 85.37%, indicating efficient cost management in its product portfolio.
However, investors should note that Alnylam is not currently profitable, with a negative operating income margin of -8.98%. This is not uncommon for biotech companies investing heavily in research and development. An InvestingPro Tip highlights that analysts do not anticipate the company will be profitable this year, which may explain the need for performance-based incentives to align executive interests with long-term value creation.
Despite the lack of profitability, Alnylam's stock has shown remarkable strength. Another InvestingPro Tip points out the company's high return over the last year, with a one-year price total return of 59.14%. This performance suggests investor confidence in Alnylam's pipeline and future prospects.
For those interested in a deeper analysis, InvestingPro offers 10 additional tips for Alnylam Pharmaceuticals, providing a more comprehensive view of the company's financial health and market position.
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