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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Tazeen Ahmad | Bank of America | 7 (0%) |
| Ritu Baral | TD Cowen | 6 (0%) |
| Luca Issi | RBC Capital Markets | 6 (33%) |
| Paul Matteis | Stifel | 6 (17%) |
| Jessica Fye | JPMorgan | 6 (0%) |
| Salveen Richter | Goldman Sachs | 5 (0%) |
| Maury Raycroft | Jefferies | 4 (0%) |
| Gena Wang | Barclays | 4 (0%) |
| Mike Ulz | Morgan Stanley | 4 (0%) |
| Kostas Biliouris | Oppenheimer | 4 (25%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Barclays | 3 | 10 (0%) |
| Stifel | 2 | 7 (14%) |
| Bank of America | 1 | 7 (0%) |
| TD Cowen | 1 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $593M | +34.9% | $-0.65 | +40.9% | -17.7% | -14.1% | $-104M |
| FY2025 Q1 | $594M | +20.2% | $-0.44 | +15.4% | 3.0% | -9.7% | $-127M |
| FY2025 Q2 | $774M | +17.3% | $-0.51 | -292.3% | -2.1% |
| 6 (0%) |
| Goldman Sachs | 2 | 6 (0%) |
| JPMorgan | 1 | 6 (0%) |
| Oppenheimer | 2 | 6 (33%) |
| RBC Capital Markets | 1 | 6 (33%) |
| -8.6% |
| $139M |
| FY2025 Q3 | $1.25B | +149.3% | $1.84 | +311.5% | 29.5% | 20.1% | $313M |
| FY2025 Q4 | $1.10B | +84.9% | $1.37 | +310.8% | 12.0% | 17.0% | $140M |
| FY2026 Q1 | $1.17B | +96.4% | $1.51 | +443.2% | 23.0% | 17.6% | $49M |
| FY2026 Q2 | $1.29B | +66.9% | $1.20 | +335.3% | 17.9% | 12.7% | $292M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
Alnylam surpassed $1 billion in quarterly product revenue for the first time with Q1 sales growing 121% year-over-year, as TTR franchise revenue reached $910 million driven by strengthening first-line AMVUTTRA adoption in ATTR-CM. The company delivered its third consecutive quarter of both GAAP and non-GAAP profitability, confirming the sustainable economics of the RNAi platform at scale. Management reiterated 2026 guidance as presented at the prior earnings call.
Demand | Competitive Dynamics | Pricing | Product Launch | Revenue Growth | Regulation Policy | Innovation & R&D | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 2 | 5 | 5 | 6 | 1 | 2 | 1 | 2 |
| 2025Q1 | 6 | 5 | 2 | 5 | 2 | 2 | ||
| 2025Q2 | 7 | 2 | 3 | 2 | 3 | 2 | 1 | |
| 2025Q3 | 5 | 4 | 2 | 3 | 1 | |||
| 2025Q4 | 2 | 3 | 3 | 1 | 4 | 1 | ||
| 2026Q1 | 4 | 7 | 2 | 2 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 2 | 6 | 7 | 5 | 2 | 4 |
| Competitive Dynamics | 5 | 5 | 2 | 4 | 3 | 7 |
| Pricing | 5 | 2 | 3 | 2 | 3 | 2 |
| Product Launch | 6 | 5 | 2 | |||
| Revenue Growth | 1 | 2 | 3 | 3 | 1 | 2 |
| Regulation Policy | 2 | 2 | 2 | 1 | 1 | |
| Innovation & R&D | 1 | 4 | 2 | |||
| Margin | 2 | 1 | 1 |
What ALNY and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“I think we're really excited that Regeneron has advanced cemdisiran.”
Alnylam is enthusiastic that collaboration partner Regeneron advanced cemdisiran in myasthenia gravis, a positive read-through for the partnered program.
“the recently announced Pfizer settlement for Vyndamax impacts how you think about the TTR cardiomyopathy landscape”
An analyst asks about Pfizer's Vyndamax settlement (affecting stabilizer-class generic timing); Alnylam says its growth outlook is not dependent on stabilizer generic entry.
“Yesterday, AstraZeneca printed a pretty meaningful miss for TTR-PN and Wainua is actually down 35% Q-over-Q.”
An analyst notes AstraZeneca's competing TTR silencer Wainua missed and fell 35% quarter-over-quarter, a potential competitive tailwind for Alnylam.
“Collaborations with Viz.ai and others as well as support for an initiative with American Heart Association are embedding AI diagnostics into real-world care pathways, expanding patient identification, and accelerating access to therapy.”
Alnylam is partnering with AI-diagnostics firm Viz.ai to improve earlier ATTR-CM detection and drive AMVUTTRA patient identification.
“The decrease was primarily driven by a $30 million milestone payment received from Vir in Q1 2025.”
Alnylam noted a prior-year $30M milestone payment from collaboration partner Vir, the absence of which lowered year-over-year collaboration revenue.
“the royalty rate we pay Sanofi on sales of AMVUTTRA resets each calendar year.”
Alnylam pays Sanofi an escalating annual royalty on AMVUTTRA, a legacy of their collaboration and a driver of Alnylam's product gross margin.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
ALNY Alnylam Pharmaceuticals | 9 | +96.4% | |
| INCY Incyte | 9 | +20.9% | |
| INSM Insmed Incorporated | 8 | +229.6% | |
| MRNA Moderna | 8 | +263.6% | |
| REGN Regeneron Pharmaceuticals | 7 | +19.0% | |
| TECH Bio-Techne | 4 | -1.5% | |
| VRTX Vertex Pharmaceuticals | 6 | +7.8% |