2 models fit Alnylam Pharmaceuticals Inc. Common Stock and they disagree: 0 of 2 land within 15% of the average. The price is above every model.
Two or more of our models back this value.
Large premium(i)
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionAlnylam Pharmaceuticals Inc. Common Stock (ALNY)
Fair value (2 models)
$144
ACCE price target
$250
Rating
Overvalued
Horizon
12 months
Fair value published on 19 Oct 2026, 19:04 CEST; previously $207 since 15 Oct 2026, 00:00 CEST.
ACCE price target published on 3 Oct 2026, 00:00 CEST.
Rating published on 19 Oct 2026, 19:04 CEST.
Price used: $224 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
56.0% above
-35.9% to fair value
ACCE score
49
out of 100
Analysts
77% buy
30 covering
P/E
37.8x
forward 18.1x
1-year return
-51.7%
Dividend yield
0.00%
Alnylam Pharmaceuticals Inc. Common Stock in four questions
Plain answers, details below
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Overview
ACCE thesis
Alnylam makes RNA interference therapeutics, most visibly Amvuttra for transthyretin amyloid cardiomyopathy and Onpattro for hereditary polyneuropathy, and it sells them on a platform with a gross margin of 79.7%. Its moat is the delivery and manufacturing know-how behind siRNA medicines, which lets it dose infrequently and pursue rare and cardiometabolic indications that smaller rivals struggle to reach. Revenue growth of 66.9% is the number that matters most, showing the commercial launch is compounding faster than the cost base. The operating margin of 17.9% is still thin for a company at this scale, so the question is whether that expansion continues as the cardiomyopathy franchise ramps. At 19.7 times forward earnings against 39.5 on trailing numbers, the market is already pricing in a sharp step-up in profitability, which makes this worth a deeper look on execution and margin trajectory rather than on the headline growth alone.
⚠ Investor warnings · 4 flagsAI-assisted·How I use AI
high
Earnings growth stalled
Revenue up 66.9% YoY but earnings flat (0.0% YoY). Operating leverage absent despite 79.7% gross margin. Suggests SG&A or R&D scaling faster than top line.
high
Valuation disconnect
Model confidence low (V:30).
moderate
Insider selling pressure
Last 10 disclosures show $1.54M in sales, zero buys. Modest absolute amount but directional signal of insiders not accumulating at current levels.
moderate
Quality score compression
ACCE score fell 2 points to 48/100 in 90 days. M:17 (profitability quality) and V:30 (valuation) are weak anchors despite strong G:64 (growth) and Q:79 (financial health).
AI research notes
AI-assisted·How I use AIWritten Oct 11, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 66.9% year over year with a 53.0% five-year average, showing sustained high-growth execution.
The company achieved 16.1% net margin and 96.6% ROE, demonstrating strong profitability and capital efficiency.
Analyst consensus fair value of $370.55 is 59.3% above the current price, with 76% of analysts rating Buy or Strong Buy.
Why it could disappoint
The stock trades at 39.2x trailing P/E while consensus fair value sits 32.4% below the current share price.
Diluted share count rose 5.5% last fiscal year while free cash flow yield is only 0.9%, limiting shareholder returns.
Debt to equity of 2.21 combined with recent earnings miss of 16.0% creates refinancing risk if profitability falters.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Oct 29, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where ALNY's valuation models land
Price
$224.03
Model fair value
$144
Model range
$71.61 to $216
Fair value $144
Price $224
The price is above the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Quality
INVESTOR
Quality and conviction INVESTOR FEATURE
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+Conviction breakdown and growth / value / quality / momentum scores