Alnylam (ALNY) Stock Climbs Following Earnings Release

Alnylam (ALNY) shares rose today after the company reported mixed third quarter results.
By Tony Owusu ,

NEW YORK (TheStreet) -- Shares of Alnylam Pharmaceuticals (ALNY) - Get Report closed trading up by 7.2% to $108.84 on Monday, following the release of the company's third quarter earnings results today.

The Cambridge, MA-based biopharmaceutical company reported a third quarter loss of $76.8 million, or a loss of 91 cents per share, topping analysts' 94 cents per share loss expectations.

Revenue for the period fell by 42.7% year over year to $6.3 million versus analysts' $6.45 million expectations.

"The past quarter and recent period were marked by tremendous progress in our efforts to advance innovative medicines to patients. Notably, we made significant progress with our late-stage clinical programs, including new data on patisiran and revusiran," said CEO John Maraganore, Ph.D. "Importantly, we're on track to complete enrollment in our APOLLO Phase 3 trial of patisiran within the next three to four months; if the study is positive, APOLLO data are expected to support an NDA submission in 2017."

Separately, TheStreet Ratings team rates ALNYLAM PHARMACEUTICALS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:

We rate ALNYLAM PHARMACEUTICALS INC (ALNY) a SELL. This is driven by a few notable weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and feeble growth in its earnings per share.

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Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of Jim Cramer, TheStreet or any of its contributors.

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