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Alnylam Pharma
(NASDAQ:ALNY)
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Rating:69Neutral
Price Target:
$254.00
▲(5.80% Upside)
Action:Reiterated
Date:10/29/26
ALNY scores 69 primarily on sharply improved financial performance (profitability and free cash flow with a healthier balance sheet), supported by a generally constructive earnings call highlighting strong franchise growth and pipeline progress. The score is held back by a neutral-to-weak technical backdrop (below key longer-term moving averages with negative MACD) and a relatively high P/E with no dividend yield provided, alongside near-term execution/policy risks called out in guidance (demand pacing, 340B and Medicare Advantage access).
Positive Factors
TTR franchise growth
Rapid TTR revenue growth and rising AMVUTTRA prescription share indicate meaningful commercial adoption in a growing disease market. Broadening prescriber use and a larger treated population can support durable product revenue expansion beyond a single reporting period.
Negative Factors
Slower demand conversion
Slower conversion from physician engagement to patient starts could moderate AMVUTTRA growth even as awareness and prescriber reach expand. If newer prescribers remain less familiar with ATTR-CM, commercial investments may take longer to produce durable volume gains.
Read all positive and negative factors
Positive Factors
Negative Factors
TTR franchise growth
Rapid TTR revenue growth and rising AMVUTTRA prescription share indicate meaningful commercial adoption in a growing disease market. Broadening prescriber use and a larger treated population can support durable product revenue expansion beyond a single reporting period.
Read all positive factors
Alnylam Pharma Key Performance Indicators (KPIs)
Any
Revenue by Segment
Analyzes income from different business areas, highlighting which segments drive growth and profitability, and indicating strategic focus areas.
Analyzes income from different business areas, highlighting which segments drive growth and profitability, and indicating strategic focus areas.
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The Fly
The FlyAlnylam Pharma (ALNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$31.10B
Dividend YieldN/A
Average Volume (3M)1.34M
Price to Earnings (P/E)38.1
Beta (1Y)0.93
Revenue Growth95.14%
EPS GrowthN/A
CountryUS
Employees2,500
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)20.38
Shares Outstanding133,809,110
10 Day Avg. Volume1,362,196
30 Day Avg. Volume1,338,309
Financial Highlights & Ratios
PEG Ratio-0.79
Price to Book (P/B)66.01
Price to Sales (P/S)14.03
P/FCF Ratio111.94
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue8.24
Enterprise Value/Gross Profit14.87
Enterprise Value/Ebitda34.44
Forecast
1Y Price Target
$358.49Price Target Upside49.32% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering24
EPS Forecast (FY)6.49
Revenue Forecast (FY)$5.47B
Alnylam Pharma Business Overview & Revenue Model
Company Description
Alnylam Pharmaceuticals, Inc. is a biopharmaceutical company primarily dedicated to the discovery, development, and commercialization of innovative therapeutic solutions leveraging ribonucleic acid interference (RNAi) technology. Its robust pipeli...
How the Company Makes Money
Alnylam makes money primarily through (1) net product revenues from sales of its marketed RNAi therapeutics and (2) collaboration-related revenue such as licensing, milestone payments, and royalties from partners.
1) Net product revenues (commerc...
Alnylam Pharma Earnings Call Summary
Earnings Call Date:Oct 29, 2026
(Q3-2026)
| Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call was broadly positive, with strong product and TTR revenue growth, expanding AMVUTTRA adoption, broad patient access, encouraging brezosiran data, a growing pipeline, profitability, and substantial cash generation. However, management acknowledged that AMVUTTRA demand growth and conversion of physician engagement into patient starts are slower than expected, while 340B policy uncertainty, Medicare Advantage access changes, lower collaboration revenue, lower gross margin, and the need to enlarge the TRITON-CM study remain challenges.Positive Updates
Strong Third-Quarter Product Revenue Growth
Third-quarter global net product revenues were approximately $1.3 billion, increasing 52% year-over-year and 10% compared with the second quarter, including the impact of foreign exchange. Growth was led by continued AMVUTTRA uptake and ATTR cardiomyopathy.
Negative Updates
AMVUTTRA Demand Growth Below Expectations
Management said it is not satisfied with the underlying demand growth observed. Although the expanded sales force has increased physician engagement and reach, those engagements have not yet translated into increased demand growth at the anticipated pace.
Read all updates
Q3-2026 Updates
Positive
Negative
Strong Third-Quarter Product Revenue Growth
Third-quarter global net product revenues were approximately $1.3 billion, increasing 52% year-over-year and 10% compared with the second quarter, including the impact of foreign exchange. Growth was led by continued AMVUTTRA uptake and ATTR cardiomyopathy.
Read all positive updates
Company Guidance
For 2026, Alnylam expects TTR product sales to land at the low end of its $4.2 billion-$4.5 billion range, with no material top-line contribution from its field expansion, and achieving $4.2 billion in total TTR revenues would represent nearly 70% growth versus last year or $1.7 billion in growth on a dollar basis; Q4 is expected to face inventory and price headwinds in the U.S., potential Q4 ordering volatility related to the final 340B rule, and an expected impact from more restrictive first-line AMVUTTRA access in Medicare Advantage, while the company does not expect acceleration of growth in Q4 2026. Alnylam will not provide 2027 product revenue guidance at JPMorgan, will provide preliminary fourth quarter and full year 2026 revenue at JPMorgan in January, and expects to provide 2027 guidance in mid-February; it continues to target a 25%+ total revenue CAGR throughout year-end 2030, approximately 2030 ATTR cardiomyopathy launch timing for nucresiran, a pivotal brezosiran study in 2027, about 75,000 treated ATTR cardiomyopathy patients in the U.S. by 2030, and a third of U.S. category TRX.Alnylam Pharma Financial Statement Overview
Summary
Income Statement
83
Very Positive
Balance Sheet
64
Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.01B | 3.71B | 2.25B | 1.83B | 1.04B | 844.29M |
| Gross Profit | 2.78B | 3.04B | 1.92B | 1.52B | 868.60M | 704.14M |
| EBITDA | 1.20B | 631.44M | -178.85M | -258.24M | -926.56M | -661.56M |
| Net Income | 2.72B | 313.75M | -278.16M | -440.24M | -1.13B | -852.82M |
Balance Sheet | ||||||
| Total Assets | 7.99B | 4.97B | 4.24B | 3.83B | 3.55B | 3.64B |
| Cash, Cash Equivalents and Short-Term Investments | 3.59B | 2.91B | 2.69B | 2.44B | 2.19B | 2.44B |
| Total Debt | 1.26B | 1.28B | 1.30B | 1.31B | 1.32B | 997.59M |
| Total Liabilities | 4.39B | 4.18B | 4.17B | 4.05B | 3.70B | 3.06B |
| Stockholders Equity | 3.60B | 789.18M | 67.09M | -220.64M | -158.22M | 588.20M |
Cash Flow | ||||||
| Free Cash Flow | 752.13M | 465.38M | -42.59M | 41.95M | -613.33M | -718.07M |
| Operating Cash Flow | 901.77M | 524.08M | -8.31M | 104.16M | -541.27M | -641.69M |
| Investing Cash Flow | -737.90M | 436.33M | -116.84M | -336.35M | 169.35M | -273.30M |
| Financing Cash Flow | 115.62M | -305.19M | 294.16M | 172.13M | 425.75M | 1.25B |
Alnylam Pharma Technical Analysis
Neutral
240.08
Price Trends
239.15
Negative
254.63
Negative
287.47
Negative
Market Momentum
-3.23
Negative
49.93
Neutral
42.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALNY, the sentiment is Neutral. The current price of 240.08 is above the 20-day moving average (MA) of 227.24, above the 50-day MA of 239.15, and below the 200-day MA of 287.47, indicating a neutral trend. The MACD of -3.23 indicates Negative momentum. The RSI at 49.93 is Neutral, neither overbought nor oversold. The STOCH value of 42.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ALNY.
Alnylam Pharma Risk Analysis
Alnylam Pharma disclosed 73 risk factors in its most recent earnings report. Alnylam Pharma reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Alnylam Pharma Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $31.10B | 38.10 | 93.61% | ― | 95.14% | ― | |
61 Neutral | $10.84B | 147.37 | 1.18% | ― | 13.69% | -89.03% | |
58 Neutral | $1.87B | -3.96 | -57.79% | ― | 12.58% | 28.42% | |
54 Neutral | $5.23B | -11.37 | -24.39% | ― | -64.80% | 12.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $8.50B | -26.88 | -60.54% | ― | 16.85% | -80.39% | |
48 Neutral | $7.46B | -12.98 | -110.84% | ― | -7.49% | -98.12% |
* Healthcare Sector Average
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Alnylam Pharma
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.