ALNY - Alnylam off 4% despite earnings beats on disappointing 2023 product revenue outlook
- Alnylam Pharmaceuticals ( NASDAQ: ALNY ) is down 4% in Thursday afternoon trading as the company's 2023 product revenue estimate range left the Street underwhelmed.
- For 2023, the company is projecting net product revenue of $1.2B-1.285B.
- In 2022, Alnylam recorded product revenue of $894.4M.
- In Q4 2022, the biotech beat on the top and bottom lines .
- Alnylam's ( ALNY ) Q4 and full-year 2022 earnings come as the US FDA just accepted an application seeking expanded approval of Onpattro (patisiran) to treat cardiomyopathy of transthyretin-mediated (ATTR) amyloidosis.
- Cantor Fitzgerald's Olivia Brayer, who has a neutral rating on Alnylam ( ALNY ), wrote in a note Thursday that the company's performance this year will be impacted by the outcome of that review as well as pipeline updates.
- Seeking Alpha's Quant Rating views Alnylam ( ALNY ) as a buy with high marks for momentum and revisions .
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Alnylam off 4% despite earnings beats on disappointing 2023 product revenue outlook