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Alnylam Pharmaceuticals, Inc. (ALNY) stock analysis

ALNYNasdaqPharmaceutical PreparationsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 29, 2026Score 10/3050% below fair value
$165.04+8.39 (+5.36%)

Close on Nov 13, 2026Market cap $22.11BP/E 8.6Yield –

StockData Score

Prices as of Nov 13, 2026How the score works

Value3Growth2Performance3Health2Dividend0

Mixed10 of 30 checks passed

Alnylam Pharmaceuticals passes 10 of the 30 checks behind our score; 15 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
3/6
Growth
2/6
Past performance
3/6
Financial health
2/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 50.2% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $165.04 is below our fair value estimate of $331.62.

  • Revenue growing 10%+ a year

    Revenue grew 53.0% a year over the last three fiscal years.

  • Low bankruptcy risk

    The Altman Z-score is 3.78; above 3 is the safe zone and below 1.8 the distress zone.

What to watch

  • Interest not well covered

    Operating income covers interest expense 3.2 times; we look for at least 5.

  • Guidance lowered

    Alnylam Pharmaceuticals lowered its FY 2026 Net revenues from collaborations and royalties outlook on Oct 29, 2026.

  • P/B above the industry

    Alnylam Pharmaceuticals's price-to-book of 6.13 is above the Drugs median of 2.09.

  • Gross margin slipping

    Gross margin was 77.4% over the last twelve months, against 84.0% a year earlier.

Valuation3/6

  • P/E against its history

    Not enough price and earnings history to compare.

  • P/E below the industry

    Alnylam Pharmaceuticals's P/E of 8.6 is below the Drugs median of 25.0.

  • EV/EBITDA against its history

    Needs positive EBITDA and price history.

  • P/B above the industry

    Alnylam Pharmaceuticals's price-to-book of 6.13 is above the Drugs median of 2.09.

  • Trading below fair value

    The share price of $165.04 is below our fair value estimate of $331.62.

  • Margin of safety over 20%

    The price is 50.2% below fair value, more than the 20% cushion we look for.

Growth2/6

  • Revenue growing 10%+ a year

    Revenue grew 53.0% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings acceleration

    Needs positive net income now, a year ago and five years ago.

  • Growing faster than the industry

    Revenue grew 56.2% over the last twelve months; the Drugs median is 7.7%.

  • Guidance lowered

    Alnylam Pharmaceuticals lowered its FY 2026 Net revenues from collaborations and royalties outlook on Oct 29, 2026.

  • Gross margin slipping

    Gross margin was 77.4% over the last twelve months, against 84.0% a year earlier.

Past performance3/6

  • Return on equity

    Needs positive equity and five years of results.

  • Return on invested capital

    Needs operating income and invested capital.

  • Return on equity above the industry

    Alnylam Pharmaceuticals's return on equity of 127% is above the Drugs median of -57.0%.

  • Earnings over 5 years

    Needs positive net income five years ago and in the latest year.

  • Net margin above its 5-year average

    Net margin was 52.8% over the last twelve months, against a 5-year average of -47.6%.

  • Net margin above the industry

    Alnylam Pharmaceuticals's net margin of 52.8% is above the Drugs median of -53.5%.

Financial health2/6

  • Debt level

    Needs debt and equity figures.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt coverage

    Needs operating cash flow.

  • Interest not well covered

    Operating income covers interest expense 3.2 times; we look for at least 5.

  • Short-term assets cover short-term debts

    Current assets are 2.48 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 3.78; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Alnylam Pharmaceuticals has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$331.62

The share price is 50% below this estimate.

20%+ below
Near fair value
20%+ above
$165.04Price$331.62Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E25.0×–25.0×$480.7453%
EV/EBITDA17.4×–17.4×$161.2147%
Earnings powerleft out, too far from the others9.8% cost of equity––$12.15–
Fair value$331.62100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • EV/EBITDA at month end
  • Drugs median 17.4

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$475.81M
Value traded per 1% price move
$186.53M

Downside

High risk

Typical loss in a bad month
31.6%
Volatility (annualized)
55%
Sharpe ratio, 1 year
-1.25
Beta to the S&P 500 (5Y)
0.93

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2011 to 2025

Gross margin

81.8%−3.2 pts over 5 years

Operating margin

13.5%+181.6 pts over 5 years

Net margin

8.4%+182.6 pts over 5 years

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