Why Alnylam Pharmaceuticals Stock Is Tanking This Week
Shares of Alnylam Pharmaceuticals (NASDAQ: ALNY) are tanking this week, falling 18.4% as of the market close on Thursday, according to data from S&P Global Market Intelligence. The decline came primarily after the company announced its third-quarter results on Thursday.
Alnylam reported third-quarter revenue of $167 million. Although this figure reflected strong year-over-year growth of 68%, it came in well below the consensus analysts' estimate of $218.7 million. The company posted an adjusted net loss of $1.51 per share, a little better than the loss of $1.57 expected by analysts.
In addition, Alnylam announced that CEO John Maraganore will step down at the end of 2021. Maraganore joined the company as its founding CEO in 2002. He will be replaced by Yvonne Greenstreet, who currently is Alnylam's president and chief operating officer.
Source Fool.com
