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Alnylam Pharmaceuticals Inc

Alnylam Pharmaceuticals Inc

ALNY
$267.47USD↓-5.54%-15.68 today

MARKET CAP

35.7B

P/E (TTM)

68.1x

FWD P/E

27.5x

DAY RANGE

$266 – $284

52W RANGE

$266
$496

AI Summary

Stalk
StalkMedium

ALNY remains in a Stage 4 decline yet qualifies for mean-reversion participation. Medium-term bias is set to Bullish on permission of a lower valuation bound and demand zone around multi-year lows. Short-term conditions remain neutral, with extreme oversold readings and price trading below declining EMAs. Execution should be deferred into stabilization and a reclaim of EMAs within the demand zone, as the active Support Failure pattern underlines continued downside risk without confirmation.

  • ↑Q1 net revenue exceeded $1B, up 121% YoY; TTR franchise $910M (+153%).
  • ↑Pipeline set to expand from 25 to over 40 trials, including Down syndrome–associated Alzheimer’s.
  • ↓Earnings yield is negative, highlighting overvaluation concerns.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) is a leading biotech firm specializing in RNA interference (RNAi) therapeutics targeted towards addressing genetic diseases, notably transthyretin (TTR) amyloidosis. The company holds a dominant market position in the RNAi therapeutic space, focusing on innovative solutions for rare diseases. Alnylam has witnessed significant growth, primarily driven by its successful launch of Vutrisran for cardiomyopathy and continuous expansion of its clinical pipeline, positioning itself favorably within a rapidly evolving healthcare landscape.

Bull says

  • ↑Q1 net revenue exceeded $1B, up 121% YoY; TTR franchise $910M (+153%).
  • ↑Pipeline set to expand from 25 to over 40 trials, including Down syndrome–associated Alzheimer’s.
  • ↑ATTR competitor trial failure boosts market share; analysts see ~28% undervaluation.
  • ↑HC Wainwright lifted target to $485 and kept a Buy rating after strong results.
  • ↑AI partnerships aim to accelerate drug discovery and enhance commercial efficiency.
  • ↑High growth metrics and strong profitability signal robust operations; leverage remains moderate.

Bear says

  • ↓Earnings yield is negative, highlighting overvaluation concerns.
  • ↓Non-GAAP R&D expenses rose 39% YoY to $335M, straining profitability.
  • ↓Gross margin fell to 80% due to increased royalty costs.
  • ↓Pricing headwinds in Germany and Europe may curb international revenue.
  • ↓High short interest reflects skepticism on growth sustainability.
  • ↓Negative momentum and low dividend appeal deter income-focused investors.

Investment themes with ALNY

Biotech↓ -3.20%

Genetic and drug innovations driving medical breakthroughs

APLS · RVMD · SMMT

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 04-30-2026bullish

Transcript signals

Bull points

  • Total global net product revenues for the first quarter were more than $1 billion or 121% growth versus Q1 last year, driven by the continued uptake of Inbutra and ATTR cardiomyopathy.
  • We achieved $910 million of TTR revenue in the first quarter, $52 million increase versus Q4, consistent with the Q1 phasing expectations we discussed on our year-end earnings call in February.
  • Royalty revenue for the first quarter was $49 million, representing an 85% increase compared to the first quarter of 2025, driven by higher global wet VO sales.

Bear points

  • The decrease was primarily driven by a $30 million milestone payment received from Beer in Q1 2025.
  • Gross margin on product sales was 80% for the first quarter, representing a 5% decrease compared with Q1 last year. The decrease in margin was primarily driven by increased royalties on Ambutra as higher revenues in 2026 resulted in an increase in the average royalty rate payable to Sanofi compared with the same period last year.
Read full transcript analysis ›