CAMBRIDGE, Mass. (AP) — CAMBRIDGE, Mass. (AP) — Alnylam Pharmaceuticals Inc. (ALNY) on Thursday reported third-quarter net income of $251.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Cambridge, Massachusetts-based company said it had net income of $1.84. Earnings, adjusted for stock option expense and non-recurring costs, came to $2.90 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.
The RNA interference drug developer posted revenue of $1.25 billion in the period, also beating Street forecasts. Eleven analysts surveyed by Zacks expected $1.02 billion.
Alnylam shares have more than doubled since the beginning of the year. The stock has increased 69% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALNY at https://www.zacks.com/ap/ALNY
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