Alnylam Pharmaceuticals Inc. Reports Strong Q3 Earnings and Raises 2025 Guidance

Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) announced its third‑quarter earnings for the period ended September 30, 2025, on October 30, 2025. The biotechnology company, headquartered in Cambridge, Massachusetts, disclosed the following key results:

  • Revenue for the quarter rose to USD 1,249.03 million from USD 500.92 million a year earlier, representing a 149 % increase.
  • Net income for the quarter was USD 251.08 million, compared with a net loss of USD 111.57 million for the same period last year.
  • For the first nine months of the fiscal year, revenue reached USD 3,498.06 million, and net income totaled USD 1,562.54 million.

Alnylam also updated its fiscal‑year outlook, raising revenue guidance to USD 3.05 billion. The company cited robust launch momentum for its amyloidosis drug Amvuttra (ATTR‑CM), which contributed significantly to the revenue growth.

Market Reaction and Analyst Activity

  • Stock Performance: Following the earnings announcement, ALNY shares traded lower on Thursday, October 31, 2025, after the company disclosed that it had received a subpoena from the U.S. Attorney’s Office for the District of Massachusetts concerning government price reporting for Amvuttra, Onpattro, and Oxlu.
  • Analyst Coverage:
    • Oppenheimer increased its price target for Alnylam on the back of strong Amvuttra sales.
    • Raymond James also raised its target price after the company beat revenue and earnings estimates.
    • Zacks reported that the Q3 earnings and revenues exceeded expectations, attributing the outperformance to higher Amvuttra sales.

Contextual Highlights

  • The company’s stock has nearly doubled in 2025 up to the reporting date, despite a temporary hit to earnings.
  • Alnylam’s market cap stands at USD 60.25 billion, with a 52‑week high of USD 495.55 (October 19, 2025) and a 52‑week low of USD 205.87 (April 8, 2025).
  • The price‑to‑earnings ratio is 1,362.9, reflecting the high valuation applied by investors to the company’s growth prospects.

Alnylam’s continued focus on expanding its portfolio of RNA‑based therapeutics and its recent commercial success with Amvuttra positions the company to maintain upward guidance for the remainder of the fiscal year.