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Alnylam Pharma
(NASDAQ:ALNY)
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Rating:66Neutral
Price Target:
$247.00
▼(-9.11% Downside)
Action:Reiterated
Date:07/31/26
The score is supported primarily by improved financial performance with strong TTM profitability and free-cash-flow generation, reinforced by an earnings call showing strong product momentum and a solid cash position. Offsetting these positives, the technical setup is weak with the stock trading far below major moving averages, and valuation remains demanding (P/E 66.15), increasing sensitivity to guidance reductions and margin/spend pressures highlighted on the call.
Positive Factors
Commercial Growth
Rapid product growth and AMVUTTRA’s >$1B quarterly revenue demonstrate strong demand, expanding adoption and commercial execution. This scale can support a durable revenue base as the TTR franchise broadens across geographies and patient segments.
Negative Factors
Reduced TTR Guidance
The guidance reduction indicates that early launch demand was partly supported by pent-up switching and may normalize. Although growth remains substantial, this raises execution risk around sustaining the franchise’s current trajectory.
Read all positive and negative factors
Positive Factors
Negative Factors
Commercial Growth
Rapid product growth and AMVUTTRA’s >$1B quarterly revenue demonstrate strong demand, expanding adoption and commercial execution. This scale can support a durable revenue base as the TTR franchise broadens across geographies and patient segments.
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.
Data provided by:
The Fly
The FlyAlnylam Pharma (ALNY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.05B
Dividend YieldN/A
Average Volume (3M)1.45M
Price to Earnings (P/E)37.8
Beta (1Y)0.95
Revenue Growth95.14%
EPS GrowthN/A
CountryUS
Employees2,500
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)6.10
Shares Outstanding133,809,110
10 Day Avg. Volume1,361,427
30 Day Avg. Volume1,447,827
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$369.33Price Target Upside35.90% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering19
EPS Forecast (FY)6.72
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 by selling its approved RNAi therapeutics and, secondarily, through collaboration-related revenue. Its key revenue streams include: (1) Product revenue: Sales of its commercial medicines to specialty distributors, hos...
Alnylam Pharma Earnings Call Summary
Earnings Call Date:Jul 30, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call conveyed strong commercial momentum — highlighted by record quarterly AMVUTTRA and broad TTR revenue growth, expanding prescriber base, robust cash and operating income, strategic geographic and AI partnerships, and an active pipeline with upcoming data readouts. Negative elements included a $200M downward revision to 2026 TTR guidance tied to normalization of early switch demand, a Q2 decline in collaboration revenue, margin pressure from higher royalties, increased R&D/SG&A investment, and industry uncertainty following a competitor trial failure (CARDIO-TTRansform). Management framed the guidance reduction as a learning from early launch dynamics and emphasized confidence in long-term TTR leadership and nucresiran’s prospects, indicating highlights outweigh challenges.Positive Updates
AMVUTTRA Milestone Quarterly Revenue
AMVUTTRA revenue exceeded $1.0 billion in Q2 2026 — the first time a single quarter surpassed $1B — implying an annual run rate above $4.0 billion just 15 months after the ATTR-CM launch.
Negative Updates
Reduction to 2026 TTR Revenue Guidance
Revised 2026 TTR revenue guidance to $4.2B–$4.5B (a $200M reduction at the midpoint versus prior guidance) due to normalization of early second-line demand after pent-up switch activity in 2025, though the revised range still reflects ~75% YoY growth.
Read all updates
Q2-2026 Updates
Positive
Negative
AMVUTTRA Milestone Quarterly Revenue
AMVUTTRA revenue exceeded $1.0 billion in Q2 2026 — the first time a single quarter surpassed $1B — implying an annual run rate above $4.0 billion just 15 months after the ATTR-CM launch.
Read all positive updates
Company Guidance
Alnylam updated its 2026 guidance, narrowing total net product revenue to $4.7–$5.1 billion and revising TTR revenue to $4.2–$4.5 billion (a $200 million midpoint reduction versus prior TTR guidance) — which the company says still reflects roughly 75% year‑over‑year TTR growth — while raising combined collaboration and royalty revenue guidance to $575–$625 million (about a $150 million midpoint increase). The revision follows Q2 results of ~ $1.2 billion total net product revenues (up 74% YoY), ~$1.03 billion global TTR revenue (up 89% YoY, +13% q/q), collaboration revenue $47 million (‑23% YoY), royalty revenue $72 million (+79% YoY), non‑GAAP R&D $377 million (+38% YoY), non‑GAAP SG&A $297 million (+14% YoY), non‑GAAP operating income $318 million (more than triple last year), gross margin on product sales 75% (‑4 percentage points YoY), cash and marketable securities $3.3 billion (vs. $2.9 billion YE‑2025), and AMVUTTRA exceeding $1 billion in a single quarter (implying an ARR > $4 billion 15 months after launch); management said reaching the midpoint would require H2 growth roughly in line with Q2, other non‑GAAP guidance is unchanged, and they expect mid‑single‑digit net price declines year‑over‑year.Alnylam Pharma Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.80B | 3.71B | 2.25B | 1.83B | 1.04B | 844.29M |
| Gross Profit | 3.83B | 3.04B | 1.92B | 1.52B | 868.60M | 704.14M |
| EBITDA | 1.15B | 631.44M | -178.85M | -258.24M | -926.56M | -661.56M |
| Net Income | 807.99M | 313.75M | -278.16M | -440.24M | -1.13B | -852.82M |
Balance Sheet | ||||||
| Total Assets | 5.56B | 4.97B | 4.24B | 3.83B | 3.55B | 3.64B |
| Cash, Cash Equivalents and Short-Term Investments | 3.31B | 2.91B | 2.69B | 2.44B | 2.19B | 2.44B |
| Total Debt | 1.27B | 1.28B | 1.30B | 1.31B | 1.32B | 997.59M |
| Total Liabilities | 4.20B | 4.18B | 4.17B | 4.05B | 3.70B | 3.06B |
| Stockholders Equity | 1.35B | 789.18M | 67.09M | -220.64M | -158.22M | 588.20M |
Cash Flow | ||||||
| Free Cash Flow | 542.54M | 465.38M | -42.59M | 41.95M | -613.33M | -718.07M |
| Operating Cash Flow | 634.49M | 524.08M | -8.31M | 104.16M | -541.27M | -641.69M |
| Investing Cash Flow | 74.94M | 436.33M | -116.84M | -336.35M | 169.35M | -273.30M |
| Financing Cash Flow | -364.24M | -305.19M | 294.16M | 172.13M | 425.75M | 1.25B |
Alnylam Pharma Technical Analysis
Negative
271.77
Price Trends
270.10
Negative
288.66
Negative
334.18
Negative
Market Momentum
-14.62
Negative
41.05
Neutral
71.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ALNY, the sentiment is Negative. The current price of 271.77 is above the 20-day moving average (MA) of 237.32, above the 50-day MA of 270.10, and below the 200-day MA of 334.18, indicating a bearish trend. The MACD of -14.62 indicates Negative momentum. The RSI at 41.05 is Neutral, neither overbought nor oversold. The STOCH value of 71.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
81 Outperform | $25.03B | 15.19 | 29.70% | ― | 26.93% | 80.66% | |
81 Outperform | $61.94B | 36.52 | 21.66% | ― | 70.57% | 30.28% | |
75 Outperform | $130.67B | 29.77 | 23.31% | ― | 11.45% | 22.53% | |
68 Neutral | $19.46B | 25.46 | 14.55% | ― | 21.75% | -36.69% | |
66 Neutral | $30.05B | 37.77 | 93.61% | ― | 95.14% | ― | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $23.01B | -11.76 | -9.16% | ― | -1.05% | -395.95% |
* Healthcare Sector Average
ALNY
Alnylam Pharma
228.61
-229.67
-50.12%
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Alnylam Pharma Corporate Events
Executive/Board ChangesShareholder Meetings
Alnylam Shareholders Reaffirm Board, Pay Practices and Auditor
Positive
May 27, 2026
At its Annual Meeting held after a March 25, 2026 record date, Alnylam shareholders re-elected Class I directors Stuart A. Arbuckle, Yvonne L. Greenstreet, M.D., and Elliott Sigal, M.D., Ph.D., to terms running until the 2029 annual meeting, while...
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.