Alnylam Pharmaceuticals (ALNY) stock fell 25.1% on Thursday, October 29, 2026, the day it reported third-quarter results, while the S&P 500 slipped 0.3%. Revenue beat estimates at $1.46 billion versus $1.43 billion, with product revenue up 52% to about $1.3 billion led by AMVUTTRA, though GAAP net income of $2.2 billion included a one-time non-cash tax benefit of about $1.9 billion. Management said it is "not yet satisfied with the underlying demand growth" and expects TTR product sales at the low end of its $4.2 billion to $4.5 billion range. It also said turning new prescribers into patient starts is taking longer than hoped, and 2027 product revenue guidance will come in mid-February. The decline stood apart from a 2.4% rise in the health care fund XLV, and the stock is down 63.9% over the past twelve months.
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