CAMBRIDGE, MA—Tanguler Tolga, Executive Vice President and Chief Commercial Officer at Alnylam Pharmaceuticals , Inc. (NASDAQ:ALNY), recently sold shares of the company's common stock, according to a filing with the Securities and Exchange Commission. The transactions, which took place on November 26, 2024, involved the sale of 1,469 shares at prices ranging from $247.77 to $252.27, totaling approximately $368,685.
In addition to these sales, Tolga acquired 3,000 shares on November 25, 2024, through a performance-based stock unit vesting, as part of the company's 2018 Stock Incentive Plan. The shares were issued following the achievement of specific performance measures linked to the company's therapeutic developments.
In other recent news, Alnylam Pharmaceuticals has seen notable developments in its operations and product pipeline. The company reported a significant 34% year-over-year increase in global net product revenue, totaling $420 million, predominantly driven by its transthyretin amyloidosis treatments. The FDA is currently reviewing Alnylam's supplemental New Drug Application for vutrisiran, a potential treatment for ATTR amyloidosis with cardiomyopathy.
Furthermore, Alnylam received FDA approval for its drug Attruby, which is expected to compete with other treatments in the ATTR-CM market. Canaccord Genuity (TSX:CF) maintained a Buy rating on Alnylam's shares, anticipating a potential price adjustment for Amvuttra to align with the branded tafamidis price.
Meanwhile, BMO (TSX:BMO) Capital reiterated an Outperform rating for the company, indicating a high probability of acceptance for Amvuttra's supplemental New Drug Application without the need for an Advisory Committee meeting. However, Wolfe Research downgraded Alnylam's stock from Peer Perform to Underperform due to long-term value concerns.
Lastly, Alnylam has ceased the ALN-KHK program for type 2 diabetes but remains open to business development opportunities. These are among the recent developments at Alnylam Pharmaceuticals.
InvestingPro Insights
While Alnylam Pharmaceuticals (NASDAQ:ALNY) has seen significant insider activity, recent data from InvestingPro sheds light on the company's financial performance and market position. The company boasts a substantial market capitalization of $32.74 billion, reflecting its strong presence in the biotechnology sector.
InvestingPro data reveals that Alnylam's revenue growth stands at an impressive 21.54% over the last twelve months as of Q3 2024, indicating robust product demand and market expansion. This growth aligns with one of the InvestingPro Tips, which highlights the company's "high return over the last year." Additionally, Alnylam's gross profit margin of 85.37% underscores its efficiency in managing production costs relative to revenue.
However, investors should note that despite strong top-line growth, Alnylam is not currently profitable, with a negative operating income of $188.13 million over the same period. This observation is supported by an InvestingPro Tip stating that "analysts do not anticipate the company will be profitable this year." Nevertheless, the company's liquid assets exceed short-term obligations, suggesting a solid financial position to support ongoing operations and research initiatives.
For those seeking a deeper understanding of Alnylam's financial health and market prospects, InvestingPro offers 10 additional tips, providing valuable insights for potential investors. These tips can be crucial for evaluating the company's long-term potential in the competitive biotech landscape.
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