A Closer Look at Alnylam Pharmaceuticals (ALNY) Valuation Following Improved Earnings and Raised Revenue Guidance

Alnylam Pharmaceuticals (ALNY) just released third quarter results, revealing a big turnaround from last year’s loss to posting solid net income. Alongside the earnings, management raised full-year revenue guidance, which points to clear business momentum.

See our latest analysis for Alnylam Pharmaceuticals.

Alnylam’s earnings turnaround and raised outlook have clearly boosted investor sentiment, as reflected in the stock’s robust 89.5% share price return year-to-date. With a one-year total shareholder return of nearly 60% and strong multi-year gains, momentum is firmly building around the company’s growth story.

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After such a remarkable rally and a wave of positive earnings, is Alnylam’s impressive growth already reflected in its share price, or could investors still find a compelling buying opportunity as the company looks ahead?

Most Popular Narrative: 5.4% Undervalued

With Alnylam’s current share price hovering around $443, the most widely followed valuation narrative places its fair value at roughly $468. This suggests analysts believe the fundamentals more than justify recent price strength, inviting a closer look at what is driving these numbers.

Read the complete narrative.

Curious what bold bets on future revenue and margins underpin this valuation? Find out which assumptions set Alnylam’s growth narrative apart from the pack. The blueprint for this potential upside is anything but ordinary. Click through to explore the precise forecasts and game-changing expectations that drive the story.

Result: Fair Value of $467.94 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, sustained R&D spending or setbacks in key product launches could quickly weaken the momentum behind Alnylam’s bullish narrative.

Story Continues

Find out about the key risks to this Alnylam Pharmaceuticals narrative.

Another View: Market Ratios Signal a Premium

While fair value models see upside for Alnylam, the company’s price-to-sales ratio tells a different story. At 18.2x, it is notably more expensive than both the broader US Biotech industry (10.7x) and similar peers (8.6x), and even stands above its fair ratio of 15.9x. That means investors are paying a premium in anticipation of future growth. The question remains whether the risk is worthwhile if expectations change.

See what the numbers say about this price — find out in our valuation breakdown.NasdaqGS:ALNY PS Ratio as at Nov 2025

Build Your Own Alnylam Pharmaceuticals Narrative

If you see things differently or want to put your own analysis to the test, you can dive into the data and craft a personal narrative in just a few minutes. Do it your way

A great starting point for your Alnylam Pharmaceuticals research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include ALNY.

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