Alnylam Pharmaceuticals Inc (ALNY) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Alnylam Pharmaceuticals Inc stock $174, price $157, upside +10.9%, quality 69 out of 100. Rating: fairly valued. Calculated from audited financials with 24 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range $120.42 – $491.22 · fair‑value band $101.70 – $225.94 · the $156.66 price screens below the $173.80 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Alnylam Pharmaceuticals, Inc. discovers, develops, manufactures, and commercializes therapeutics based on ribonucleic acid interference in the United States, Europe, and internationally.
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The company offers ONPATTRO for hereditary transthyretin-mediated (hATTR) amyloidosis; AMVUTTRA for ATTR and hATTR amyloidosis; Leqvio for hypercholesterolemia; Qfitlia for hemophilia A or B; GIVLAARI for acute hepatic porphyria; and OXLUMO for primary hyperoxaluria type 1. It also develops a range of products in Phase 3 trial, such as Nucresiran for ATTR amyloidosis; Zilebesiran for hypertension; Cemdisiran for myasthenia gravis, paroxysmal nocturnal hemoglobinuria, and geographic atrophy; and Elebsiran for hepatitis D virus infections.
In addition, the company is developing various products in Phase 2 trial, including Rapirosiran for metabolic dysfunction-associated steatohepatitis; ALN-ANG3 for diabetic kidney disease; ALN-4324 for type 2 diabetes mellitus; Mivelsiran for cerebral amyloid angiopathy, as well as in Phase 1 trial for Alzheimer's disease; and ALN-6400 for bleeding disorders.
Further, it develops a range of products in Phase 1 trial, such as ALN-2232 for obesity and weight management; ALN-PNP for non-alcoholic fatty liver disease; ALN-APOC3 for dyslipidemia; ALN-CIDEB for metabolic dysfunction-associated steatohepatitis; ALN-HTT02 for Huntington's disease; ALN-5288 for Alzheimer's disease; ALN-SOD for SOD1 amyotrophic lateral sclerosis; ALN-SNCA for Parkinson's disease; AG-236 for polycythemia vera; ALN-CFB for paroxysmal nocturnal hemoglobinuria; ALN-BCAT for hepatocellular carcinoma; and ALN-4285, ALN-4915, and ALN-F1202 for healthy volunteers.
The company has collaborations with Regeneron Pharmaceuticals, Inc.; Roche Holding AG; Sanofi S.A.; Novartis AG; PeptiDream, Inc; Dicerna Pharmaceuticals, Inc.; and Ionis Pharmaceuticals, Inc. Alnylam Pharmaceuticals, Inc. was founded in 2002 and is headquartered in Cambridge, Massachusetts.
Stock analysis
Alnylam Pharmaceuticals Inc (ALNY) currently trades at $156.66, while our model-based Fair Value estimate is $173.80, so the stock looks roughly fairly valued today (gap 9.9%).
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Valuation
Bull case: the DCF Models group reads highest at a median of $116.59 per share, and 2 of the 24 models we run sit above the $156.66 price.
Bear case: the Economic Profit group reads lowest at $29.03, and 22 of the 24 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $101.70 (bear) to $225.94 (bull), the price of $156.66 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 69/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Alnylam Pharmaceuticals Inc reported revenue of $3.7B in FY2025 versus $844M in FY2021, a compound +44.8%/yr. Reported net income was $314M in FY2025.
Key figures
Market cap $21.7B Large · P/E ratio 7.9 · P/S ratio 4.32 · EPS (TTM) $19.80 · Net margin 52.9% · Return on equity 138% · Return on assets (EBIT) −8.6% · Operating margin 23.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 81 out of 100 (medium confidence).
What moves the price
The share trades about 67% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at 8% fair-value upside, at 11%, ALNY screens cheaper than that median.
Fair Value models
Bear$101.70Fair Value $173.80Bull$225.94
Price $156.66 · Upside +10.9%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($16.82 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, 2 officers or directors sold shares worth $1.5M and none bought.
SaleBryan SupranEVP, CLO and Secretary1,758 shares at $226.88$398,855Oct 2, 2026
SaleDavid E I PyottDirector3,830 shares at $299.18$1.1MJun 1, 202610b5-1 plan
SaleMelissa McLaughlinChief Human Resources Officer3,910 shares at $325.92$1.3MApr 6, 202610b5-1 plan
SaleKevin Joseph FitzgeraldCSO & EVP, Head of Research5× since Nov 17, 2025: 24,469 shares, avg. $393.74$9.6MMar 5, 202610b5-1 plan
SalePushkal GargEVP Chief R&D5× since Jan 12, 2026: 16,584 shares, avg. $327.49$5.4MMar 5, 2026
SaleTolga TangulerEVP, Chief Commercial Officer4× since Jan 12, 2026: 7,376 shares, avg. $328.76$2.4MMar 4, 2026
SaleJeffrey Poulton V.EVP, Chief Financial Officer4× since Jan 12, 2026: 9,696 shares, avg. $332.52$3.2MMar 4, 2026
SaleYvonne GreenstreetChief Executive Officer, Director5× since Nov 12, 2025: 51,917 shares, avg. $393.34$20.4MMar 4, 2026
Plus 12 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+65.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+53.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+49.8%
Start year 2020 (pandemic). Over 10 years: +56.9% a year
Revenue growth 22 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+57.2%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−168.1% (2020) → 13.5% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+18.6%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+22.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +15.8% a year for the price and +19.7% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (100 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
AI conclusion: High gross margins and positive FCF indicate operational efficiency, yet the biotech model shows limited durable signals and debt exceeding equity.
Main risk: Arrowhead with its TRiM platform or gene-editing firms such as Intellia could capture share in cardiovascular and rare-disease indications through improved dosing or one-time treatments, pressuring Alnylam's pricing and margins.
Bull case: Alnylam could leverage its new AI collaboration with Inceptive and manufacturing scale-up to accelerate superior RNAi candidates that outperform rivals in efficacy and convenience.
Bear case: If rivals or gene-editing alternatives gain traction and key partnerships weaken, Alnylam might lose market share in core indications and face prolonged cash burn without new approvals.
Alnylam is committing substantial resources to expand its manufacturing footprint for RNAi therapies. This step aims to meet rising demand as its portfolio targets both rare diseases and broader cardiovascular indications. At the same time, execution across multiple late-stage programs will test whether internal capabilities can outpace external competition in delivering consistent results. Will scaling production unlock wider reach, or will clinical and commercial milestones prove the decisive factor?
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Biotechnology · 565 stocks
Beats the industry median on 10/14 measures
Overall it ranks above its industry peers.
Valuation
Quality Score69 · Top 25%
Fair Value upside+10.9% · Top 25%
Profitability
Return on equity (12 months)138.1% · Top 25%
Return on assets6.3% · Top 25%
Net margin (12 months)52.9% · Top 25%
Operating margin (12 months)23.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)16.7% · Above median
Balance sheet
Debt / equity1.28× · Highest 25%
Valuation Multiplesvs Biotechnology median · lower = cheaper
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Is Alnylam Pharmaceuticals Inc (ALNY) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $173.80 versus a price of $156.66, about +11% upside (fairly valued).
What is the fair value of ALNY?
Our model-based fair value for Alnylam Pharmaceuticals Inc is $173.80 (as of Nov 3, 2026), built from audited fundamentals. The current price: $156.66.
What is the quality score of ALNY?
Alnylam Pharmaceuticals Inc has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Alnylam Pharmaceuticals Inc (ALNY)?
Our model-based price target is the fair value of $173.80 (as of Nov 3, 2026) from 24 valuation models. Cautious scenario $101.70, optimistic scenario $225.94. It is a calculation from audited fundamentals, not an analyst target.
What is the Alnylam Pharmaceuticals Inc stock forecast for 2026?
Our models put fair value at $173.80, about +11% upside versus a price of $156.66 (fairly valued). Cautious scenario $101.70, optimistic scenario $225.94. The calculation is refreshed regularly with new filings.
What is the revenue of Alnylam Pharmaceuticals Inc (ALNY)?
Alnylam Pharmaceuticals Inc reported trailing-twelve-month revenue of about $5.0B (latest available figure, as of Nov 3, 2026).
What growth is priced into Alnylam Pharmaceuticals Inc (ALNY)?
For today's price to be fair in a discounted-cash-flow model, Alnylam Pharmaceuticals Inc would have to grow free cash flow by +18.6 % per year for five years (discount rate 8.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +49.8 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of ALNY use?
Our models discount Alnylam Pharmaceuticals Inc at 8.1 %: a base by market capitalisation (large), damped by beta 0.44, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Alnylam Pharmaceuticals Inc that is +18.6 % per year a year over ten years, using the same discount rate (8.1 %) and the same formula as our fair value.
How much growth has Alnylam Pharmaceuticals Inc (ALNY) delivered so far?
Over the past 5 years revenue at Alnylam Pharmaceuticals Inc grew +49.8 % a year. The price currently implies +18.6 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Alnylam Pharmaceuticals Inc (ALNY) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into Alnylam Pharmaceuticals Inc (+18.6 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Alnylam Pharmaceuticals Inc (ALNY)?
The free-cash-flow yield on the price is 2.15 %: that much free cash flow Alnylam Pharmaceuticals Inc produces per unit of market value. When it exceeds the discount rate of our models (8.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Alnylam Pharmaceuticals Inc (ALNY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Alnylam Pharmaceuticals Inc it is $173.80 per share (as of Nov 3, 2026), against a price of $156.66. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Alnylam Pharmaceuticals Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, ALNY trades below its calculated fair value: price $156.66, fair value $173.80, a gap of about +11% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ALNY?
No. The price is what the market pays today ($156.66); the fair value is what the company's own numbers justify ($173.80). For Alnylam Pharmaceuticals Inc the two are $17.14 per share apart. That gap is exactly why we show both numbers side by side.
How much is Alnylam Pharmaceuticals Inc worth?
The market values Alnylam Pharmaceuticals Inc at about $21.7B (market capitalisation, as of Nov 3, 2026). Per share that is $156.66; our models calculate a fair value of $173.80 per share.
What do the bullish and bearish scenarios say about ALNY?
Our models span a range for Alnylam Pharmaceuticals Inc: cautious scenario $101.70, base $173.80, optimistic $225.94 per share (as of Nov 3, 2026, price $156.66). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ALNY?
Alnylam Pharmaceuticals Inc trades at a price-to-earnings ratio of 7.9 (as of Nov 3, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $173.80 is built from several models across several years. Other multiples: PEG 0.2, P/B 27.4, P/S 4.3, EV/EBITDA 20.3.
What is the PEG ratio of ALNY?
The PEG ratio of Alnylam Pharmaceuticals Inc is 0.21 (P/E divided by earnings growth, as of Nov 3, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Alnylam Pharmaceuticals Inc (ALNY)?
Balance-sheet figures for Alnylam Pharmaceuticals Inc (as of Nov 3, 2026): return on equity 138.1%, debt of 1.28 per unit of equity. They feed the Quality Score of 69/100, which measures business quality independently of the share price.
How far is ALNY from its 52-week high?
Alnylam Pharmaceuticals Inc trades at $156.66, about 67% below its 52-week high of $473.29 and at the low of $156.66 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $173.80 is for.
Which stocks are comparable to Alnylam Pharmaceuticals Inc?
From the same area (Healthcare) we also value Vertex Pharmaceuticals Incorporated, Regeneron Pharmaceuticals, Inc, CSL Limited, argenx SE, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Alnylam Pharmaceuticals Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $156.66, calculated fair value $173.80 (+11%), Quality Score 69/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ALNY calculated?
We run Alnylam Pharmaceuticals Inc through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $173.80, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Alnylam Pharmaceuticals Inc currently trades 10% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Alnylam Pharmaceuticals Inc (ALNY)?
The closing price on Nov 5, 2026 was $156.66. Our model-based fair value is $173.80, about +11% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Alnylam Pharmaceuticals Inc right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range ($101.70 to $225.94) leaves room in how you read the outcome.
Key figures of Alnylam Pharmaceuticals Inc
How large is the market capitalisation of Alnylam Pharmaceuticals Inc (ALNY)?
The market capitalisation of Alnylam Pharmaceuticals Inc is $21.7B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Alnylam Pharmaceuticals Inc (ALNY)?
The price-to-sales ratio of Alnylam Pharmaceuticals Inc is 4.32 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Alnylam Pharmaceuticals Inc (ALNY)?
Earnings per share at Alnylam Pharmaceuticals Inc are $19.80 (price ÷ EPS = P/E 7.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Alnylam Pharmaceuticals Inc (ALNY)?
The net margin of Alnylam Pharmaceuticals Inc is 52.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Alnylam Pharmaceuticals Inc (ALNY)?
The return on equity (ROE) of Alnylam Pharmaceuticals Inc is 138% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Alnylam Pharmaceuticals Inc (ALNY)?
On an EBIT basis the return on assets of Alnylam Pharmaceuticals Inc is −8.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Alnylam Pharmaceuticals Inc (ALNY)?
The operating margin of Alnylam Pharmaceuticals Inc is 23.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Alnylam Pharmaceuticals Inc (ALNY)?
Revenue at Alnylam Pharmaceuticals Inc is growing +16.7% versus a year earlier (3y avg +53.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Alnylam Pharmaceuticals Inc (ALNY)?
Earnings per share at Alnylam Pharmaceuticals Inc are growing +634% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Alnylam Pharmaceuticals Inc (ALNY) hold?
Alnylam Pharmaceuticals Inc holds more cash than debt, $379M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Some data
Nov 3, 2026