| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 20 | 39.4x | 17.6x | Bottom tier | |
Growth | 98 | 95.1% | 7.1% | Top tier | |
Quality | 92 | 46.5% | 4.5% | Top tier | |
Safety | 66 | — | 2.6x | Around median | |
Capital Return | 69 | — | 2.15% | Top tier | |
Momentum | 9 | -50.4% | 2.3% | Bottom tier | |
Sentiment | 74 | 16 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Alnylam Pharmaceuticals is a fully integrated global biopharmaceutical company developing therapies based on RNA interference RNAi technology, with a primary commercial focus on transthyretin amyloidosis ATTR diseases. Most product revenue comes from the TTR franchise, particularly AMVUTTRA, which is approved in the United States for the treatment of ATTR cardiomyopathy ATTR-CM and hereditary ATTR polyneuropathy ATTR-PN, while the company also generates collaboration and royalty revenue from partnerships including Regeneron and Roche, and from LEQVIO sales generated by Novartis.
In Q2 FY2026, revenue according to EDGAR filings was approximately $1.3 billion, gross profit was $992.7 million, net income was $164.5 million, and earnings per share were $1.21. According to the earnings call, global net product revenue was approximately $1.2 billion, up 74% year over year, including $1.03 billion from the TTR franchise and $142 million from the rare disease portfolio, while collaboration revenue was $47 million and royalty revenue was $72 million.
The product gross margin was 75% in Q2 FY2026, down four percentage points year over year due to higher average royalties owed to Sanofi as AMVUTTRA revenue grew. In contrast, the company generated non-GAAP operating income of $318 million, more than triple its level a year earlier, and ended the period with $3.3 billion in cash and marketable investments, compared with $2.9 billion at the end of FY2025.
The average analyst price target is $355.27, with a consensus rating of “Buy,” and the wide target range of $256 to $455 reflects meaningful variation in estimates of AMVUTTRA’s trajectory and the execution risk associated with guidance and clinical studies. The average target is below the 52-week high of $495.55, while the high target of $455 is close to it; the absence of a displayed price-to-earnings ratio, despite net income of $164.5 million in Q2 FY2026, indicates that the stock’s valuation is strongly tied to future growth expectations and pipeline success rather than a stable earnings multiple.
Figures in the text are as of 2026-08-28; the live price is shown at the top of the page.
The TTR franchise was the largest driver, generating global net revenue of $1.03 billion, up 89% year over year and 13% sequentially. Total product revenue was $1.17 billion, including $142 million from the rare disease portfolio. AMVUTTRA revenue alone exceeded $1 billion in a single quarter for the first time, 15 months after its ATTR-CM launch.
The company lowered the guidance midpoint by $200 million, bringing the range to $4.2–$4.5 billion. Management explained on July 30, 2026, that early second-line demand during FY2025 included patients who had been waiting for a new treatment option, after which this pent-up demand began returning to a normalized level in early FY2026. Nevertheless, the revised range still reflects expected year-over-year growth of 75%, and management says reaching the midpoint requires growth in Q3 and Q4 FY2026 similar to that achieved in Q2.
First-line starts represented approximately 80% of new treatment starts in Q2 FY2026, and AMVUTTRA now accounts for more than 50% of new patient starts among physicians who use it. In the HELIOS-B study, the drug met ten out of ten endpoints, with reductions of approximately 40% in all-cause mortality and recurrent cardiovascular events over 48 months. It is also administered once every three months, and the real-world use data presented by the company indicate treatment adherence exceeding 90%.
Automated analysis for informational purposes only — not investment advice.
TRITON-CM is testing nucresiran against placebo in ATTR-CM patients, and Alnylam expanded enrollment by approximately 500 patients to a total of 1,750 patients. Preliminary Phase 1 data showed TTR reduction exceeding 95% with twice-yearly dosing, and the company’s models estimate that more than 99% of patients may exceed an 80% reduction threshold. However, the study remains ongoing, and the company said on July 30, 2026, that it would review the full CARDIO-TTRansform data before deciding whether changes to enrollment or the statistical analysis plan are necessary.
Alnylam estimates that there are approximately 200 thousand ATTR-CM patients in the United States and says that approximately 80% remain untreated. The company added more than 1,700 new AMVUTTRA prescribers from the ATTR-CM launch through the end of Q2 FY2026, but estimates that only approximately one-third of the TTR prescriber base has tried the drug. Commercial investments therefore focus on expanding reach among community physicians and improving early patient identification through collaborations including Viz AI and Komodo Health.
According to EDGAR, the company recorded net income of $164.5 million and earnings per share of $1.21, on total revenue of approximately $1.3 billion. Non-GAAP operating income reached $318 million, more than triple its level a year earlier. Cash and marketable investments increased to $3.3 billion at the end of the quarter from $2.9 billion at the end of FY2025, despite a 38% increase in research and development expenses to $377 million.
