Alynlam Pharmaceuticals (ALNY) Stock Falls in After-Hours Despite Better Than Expected Earnings

NEW YORK (TheStreet) -- Alynlam Pharmaceuticals (ALNY) shares are falling 0.76% to $106.63 in after-hours trading on Thursday following the release of the pharmaceutical company's first quarter earnings results after the closing bell today.

The Cambridge, MA-based company reported a first quarter non-GAAP net loss of $50.8 million, or a loss of 62 cents per diluted share, on revenue that increased 124% to $18.54 million. Analysts on average were expecting the company to report a net loss of 66 cents per share on revenue of $15.35 million.

"Alnylam continues to maintain a very strong balance sheet, with approximately $1.45 billion in cash as of the end of the first quarter of 2015," said Michael Mason.

"Our cash balance was bolstered in the quarter with net proceeds of approximately $567 million that resulted from a public offering and concurrent private placements from Genzyme. This financing resulted in a balance sheet that allows us to invest in a broad pipeline of RNAi therapeutics across all three Alnylam STArs, which we believe will enable us to realize our 'Alnylam 2020' goals. As for financial guidance this year, we remain on track to end 2015 with greater than $1.2 billion in cash," said VP of Finance and Treasurer Michael Mason.

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 some concerns, 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 disappointing return on equity and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

ALNY Chart ALNY data by YCharts

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