Recent News
On June 3, 2026 the company announced a strategic AI collaboration with Inceptive Form to accelerate RNAi discovery; in mid-May Alnylam presented new Vutrisiran analyses at Heart Failure 2026 highlighting consistent clinical benefit in ATTR‑CM populations; Alnylam also received recognition on Fast Company’s Most Innovative Companies list for 2026.
Technical Analysis
ADX at 25.14 indicates a strong price-movement environment; directional indicators show DI− at 35.04 and increasing while DI+ at 24.25 declines, a combination that tilts the directional bias toward selling pressure and supports a near-term negative price bias.
MACD sits at −18.24, is decreasing, and remains below its signal line (−14.00), indicating bearish momentum and continued downward pressure on momentum measures.
MRO equals −39.56, which places the current price materially below the WMDST target and therefore signals measurable potential for a price reversion upward toward valuation-implied levels if momentum shifts.
RSI at 41.51 and falling signals weakening internals without oversold exhaustion, suggesting further downside remains possible before a durable mean-reversion setup appears.
Price trades below the 12‑day EMA ($234.35), the 20‑day average ($242.31), the 50‑day average ($278.68), and the 200‑day average ($341.55). Ichimoku components (Tenkan $244.21; Kijun $288.90; Senkou A $290.05; Senkou B $308.24) sit above price, confirming pressure from trend-following systems and placing the stock below the cloud. Bollinger bands place price nearer the lower band ($206.43 lower‑1σ), indicating proximity to short-term support but not an immediate oversold capitulation.
Short‑term beta is negative (42‑day −0.86) while 52‑week beta remains modestly positive (0.30), implying low to mixed correlation with the market in recent weeks; average volume metrics show today’s print below the 10‑day average, reducing conviction behind any intra‑session moves.
Fundamental Analysis
Revenue totaled $1,290,948,000 with reported revenue growth at 10.60% and a year‑over‑year revenue change of −64.90% by the supplied label; operating income equals $231,441,000 and EBIT equals $259,857,000, producing an EBIT margin of 20.13%. The EBIT margin improved year‑over‑year (30.85%) but contracted quarter‑over‑quarter (−19.25%). Compared with the industry peer mean and median for EBIT margin, Alnylam’s margin sits above both peer averages.
EPS came in at $1.84 versus an estimate of $2.14, an EPS difference of −$0.30 and an EPS surprise of −14.02%, showing a miss to consensus despite positive operating margins.
Valuation multiples sit at elevated levels: P/E about 160.55 and forward P/E about 96.34; price-to-book equals 29.18, noticeably above the industry peer mean (8.39) and industry peer median (6.33) and above the industry peer high (18.33). Price-to-sales at 30.60 and enterprise multiple near 136.86 further reflect rich multiples relative to typical biotech benchmarks. The current valuation as determined by WMDST: over-valued.
Cash and liquidity remain robust with cash and short‑term investments of $3,308,147,000, a cash ratio of 2.19, and a quick ratio near 2.99. Free cash flow equals $292,044,000, producing a free cash flow yield of 0.74%—above the industry peer mean but below the industry peer median—while free cash flow growth shows mixed signs quarter‑to‑quarter and year‑over‑year.
Balance sheet leverage shows total debt $1,267,409,000, debt-to-equity roughly 0.94 and debt-to-EBITDA about 4.63; interest coverage approximates 3.17. Return on equity stands near 12.15% and return on invested capital about 10.17%, supporting operating profitability despite high multiples. The mean analyst price target listed here sits at $152.82 versus the last close of $216.98, leaving current market price above the mean target implied by analysts.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-07-30 |
| NEXT REPORT DATE: | 2026-10-29 |
| CASH FLOW | Begin Period Cash Flow | $ 1.7 B |
| Operating Cash Flow | $ 326.7 M | |
| Capital Expenditures | $ -34.68 M | |
| Change In Working Capital | $ -28.27 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -2.94 M | |
| End Period Cash Flow | $ 1.7 B | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.3 B | |
| Forward Revenue | $ 826.3 M | |
| COSTS | ||
| Cost Of Revenue | $ 298.5 M | |
| Depreciation | $ 13.9 M | |
| Depreciation and Amortization | $ 13.9 M | |
| Research and Development | $ 413.1 M | |
| Total Operating Expenses | $ 1.1 B | |
| PROFITABILITY | ||
| Gross Profit | $ 992.5 M | |
| EBITDA | $ 273.8 M | |
| EBIT | $ 259.9 M | |
| Operating Income | $ 231.4 M | |
| Interest Income | $ 28.1 M | |
| Interest Expense | $ 82.1 M | |
| Net Interest Income | $ -53.91 M | |
| Income Before Tax | $ 177.8 M | |
| Tax Provision | $ 13.3 M | |
| Tax Rate | 7.487 % | |
| Net Income | $ 164.5 M | |
| Net Income From Continuing Operations | $ 164.5 M | |
| EARNINGS | ||
| EPS Estimate | $ 2.14 | |
| EPS Actual | $ 1.84 | |
| EPS Difference | $ -0.30 | |
| EPS Surprise | -14.019 % | |
| Forward EPS | $ 3.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 5.6 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.4 B | |
| Total Current Assets | $ 4.6 B | |
| Cash and Short-Term Investments | $ 3.3 B | |
| Cash | $ 1.7 B | |
| Net Receivables | $ 912.7 M | |
| Inventory | $ 97.1 M | |
| Long-Term Investments | $ 87.3 M | |
| LIABILITIES | ||
| Accounts Payable | $ 108.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 1.5 B | |
| Net Debt | — | |
| Total Debt | $ 1.3 B | |
| Total Liabilities | $ 4.2 B | |
| EQUITY | ||
| Total Equity | $ 1.4 B | |
| Retained Earnings | $ -6.33 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 10.13 | |
| Shares Outstanding | 133.734 M | |
| Revenue Per-Share | $ 9.65 | |
| VALUATION | Market Capitalization | $ 39.5 B |
| Enterprise Value | $ 37.5 B | |
| Enterprise Multiple | 136.862 | |
| Enterprise Multiple QoQ | -1.785 % | |
| Enterprise Multiple YoY | -94.576 % | |
| Enterprise Multiple IPRWA | high: 148.972 ALNY: 136.862 median: 33.436 mean: 15.554 low: -178.99 |
|
| EV/R | 29.023 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.105 | |
| Asset To Liability | 1.322 | |
| Debt To Capital | 0.483 | |
| Debt To Assets | 0.228 | |
| Debt To Assets QoQ | -8.131 % | |
| Debt To Assets YoY | -19.738 % | |
| Debt To Assets IPRWA | high: 0.833 mean: 0.283 median: 0.236 ALNY: 0.228 low: 0.0 |
|
| Debt To Equity | 0.936 | |
| Debt To Equity QoQ | -20.936 % | |
| Debt To Equity YoY | -81.917 % | |
| Debt To Equity IPRWA | high: 1.719 ALNY: 0.936 mean: 0.276 median: 0.098 low: -0.777 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 29.176 | |
| Price To Book QoQ | -28.963 % | |
| Price To Book YoY | -85.104 % | |
| Price To Book IPRWA | ALNY: 29.176 high: 18.326 mean: 8.389 median: 6.334 low: -9.25 |
|
| Price To Earnings (P/E) | 160.554 | |
| Price To Earnings QoQ | -3.467 % | |
| Price To Earnings YoY | -126.824 % | |
| Price To Earnings IPRWA | ALNY: 160.554 high: 133.654 median: 40.973 mean: 15.796 low: -176.575 |
|
| PE/G Ratio | -21.299 | |
| Price To Sales (P/S) | 30.604 | |
| Price To Sales QoQ | -19.126 % | |
| Price To Sales YoY | -51.758 % | |
| Price To Sales IPRWA | high: 559.892 mean: 55.562 ALNY: 30.604 median: 20.828 low: 0.983 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 96.34 | |
| Forward PE/G | -12.781 | |
| Forward P/S | 47.894 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -1.007 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.242 | |
| Asset Turnover Ratio QoQ | 4.472 % | |
| Asset Turnover Ratio YoY | 37.063 % | |
| Asset Turnover Ratio IPRWA | high: 0.511 ALNY: 0.242 mean: 0.111 median: 0.106 low: 0.0 |
|
| Receivables Turnover | 1.437 | |
| Receivables Turnover Ratio QoQ | 2.283 % | |
| Receivables Turnover Ratio YoY | -8.511 % | |
| Receivables Turnover Ratio IPRWA | high: 4.472 median: 1.542 mean: 1.444 ALNY: 1.437 low: 0.058 |
|
| Inventory Turnover | 3.295 | |
| Inventory Turnover Ratio QoQ | 30.133 % | |
| Inventory Turnover Ratio YoY | 58.215 % | |
| Inventory Turnover Ratio IPRWA | ALNY: 3.295 high: 2.108 mean: 0.485 median: 0.453 low: 0.029 |
|
| Days Sales Outstanding (DSO) | 63.499 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 51.936 | |
| Cash Conversion Cycle Days QoQ | -0.248 % | |
| Cash Conversion Cycle Days YoY | 189.49 % | |
| Cash Conversion Cycle Days IPRWA | high: 1252.713 median: 197.717 mean: 183.776 ALNY: 51.936 low: -771.823 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.415 | |
| CapEx To Revenue | -0.027 | |
| CapEx To Depreciation | -2.495 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.4 B | |
| Net Invested Capital | $ 2.4 B | |
| Invested Capital | $ 2.4 B | |
| Net Tangible Assets | $ 1.4 B | |
| Net Working Capital | $ 3.1 B | |
| LIQUIDITY | ||
| Cash Ratio | 2.187 | |
| Current Ratio | 3.055 | |
| Current Ratio QoQ | -2.303 % | |
| Current Ratio YoY | 9.054 % | |
| Current Ratio IPRWA | high: 31.351 mean: 4.843 median: 3.163 ALNY: 3.055 low: 0.34 |
|
| Quick Ratio | 2.99 | |
| Quick Ratio QoQ | -2.413 % | |
| Quick Ratio YoY | 8.905 % | |
| Quick Ratio IPRWA | high: 16.477 ALNY: 2.99 mean: 2.798 median: 2.311 low: 0.811 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 4.63 | |
| Cost Of Debt | 5.976 % | |
| Interest Coverage Ratio | 3.167 | |
| Interest Coverage Ratio QoQ | -24.579 % | |
| Interest Coverage Ratio YoY | 2507.674 % | |
| Interest Coverage Ratio IPRWA | high: 533.0 mean: 44.46 ALNY: 3.167 median: 1.97 low: -1402.929 |
|
| Operating Cash Flow Ratio | 0.078 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 50.708 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 8.368 % | |
| Revenue Growth | 10.604 % | |
| Revenue Growth QoQ | 65.843 % | |
| Revenue Growth YoY | -64.898 % | |
| Revenue Growth IPRWA | high: 278.717 % mean: 15.567 % median: 12.112 % ALNY: 10.604 % low: -242.388 % |
|
| Earnings Growth | -7.538 % | |
| Earnings Growth QoQ | -112.733 % | |
| Earnings Growth YoY | -100.151 % | |
| Earnings Growth IPRWA | high: 185.714 % median: 16.667 % mean: 11.456 % ALNY: -7.538 % low: -220.0 % |
|
| MARGINS | ||
| Gross Margin | 76.881 % | |
| Gross Margin QoQ | -6.142 % | |
| Gross Margin YoY | -5.694 % | |
| Gross Margin IPRWA | high: 100.0 % median: 80.305 % mean: 78.158 % ALNY: 76.881 % low: -3.536 % |
|
| EBIT Margin | 20.129 % | |
| EBIT Margin QoQ | -19.248 % | |
| EBIT Margin YoY | 3084.968 % | |
| EBIT Margin IPRWA | high: 103.704 % median: 22.839 % ALNY: 20.129 % mean: -96.881 % low: -3750.867 % |
|
| Return On Sales (ROS) | 17.928 % | |
| Return On Sales QoQ | -22.106 % | |
| Return On Sales YoY | -956.16 % | |
| Return On Sales IPRWA | high: 74.372 % median: 30.748 % ALNY: 17.928 % mean: -78.853 % low: -3837.989 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 292.0 M | |
| Free Cash Flow Yield | 0.739 % | |
| Free Cash Flow Yield QoQ | 571.818 % | |
| Free Cash Flow Yield YoY | 160.211 % | |
| Free Cash Flow Yield IPRWA | high: 13.067 % median: 0.852 % ALNY: 0.739 % mean: 0.541 % low: -26.527 % |
|
| Free Cash Growth | 500.037 % | |
| Free Cash Growth QoQ | -865.753 % | |
| Free Cash Growth YoY | -338.626 % | |
| Free Cash Growth IPRWA | ALNY: 500.037 % high: 175.34 % mean: 20.303 % median: 1.424 % low: -249.171 % |
|
| Free Cash To Net Income | 1.775 | |
| Cash Flow Margin | 9.134 % | |
| Cash Flow To Earnings | 0.717 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 3.078 % | |
| Return On Assets QoQ | -24.577 % | |
| Return On Assets YoY | -303.841 % | |
| Return On Assets IPRWA | high: 20.575 % ALNY: 3.078 % median: 0.09 % mean: -4.255 % low: -37.962 % |
|
| Return On Capital Employed (ROCE) | 6.422 % | |
| Return On Equity (ROE) | 0.121 | |
| Return On Equity QoQ | -36.581 % | |
| Return On Equity YoY | -145.932 % | |
| Return On Equity IPRWA | high: 0.462 ALNY: 0.121 median: 0.005 mean: -0.111 low: -0.887 |
|
| DuPont ROE | 13.541 % | |
| Return On Invested Capital (ROIC) | 10.165 % | |
| Return On Invested Capital QoQ | -21.621 % | |
| Return On Invested Capital YoY | 3265.894 % | |
| Return On Invested Capital IPRWA | high: 30.797 % ALNY: 10.165 % median: 3.876 % mean: -0.675 % low: -27.378 % |
|