Alnylam Pharmaceuticals, Inc. (ALNY) Stock Price & How to Invest

Alnylam Pharmaceuticals is the company that turned RNA interference, a Nobel-winning biological mechanism for silencing disease-causing genes, into an approved class of medicines. Its commercial portfolio includes Amvuttra (vutrisiran) and Onpattro for transthyretin (TTR) amyloidosis, Givlaari for acute hepatic porphyria, and Oxlumo for a rare kidney disorder, plus royalties on Leqvio, an cholesterol-lowering RNAi drug marketed by partner Novartis. The defining event was the March 2025 FDA approval of Amvuttra for ATTR amyloidosis with cardiomyopathy (ATTR-CM), a far larger patient population than its earlier polyneuropathy indication, based on the HELIOS-B trial showing a 28% reduction in death and cardiac events.

That label expansion transformed the financial profile. Full-year 2025 net product revenue reached roughly $3 billion, up about 81%, and the company reached both GAAP and non-GAAP profitability for the first time. Momentum accelerated into 2026, with Q1 net product revenue of about $1.0 billion and net income around $206 million, and management guided full-year 2026 combined net product revenue to roughly $4.9 billion to $5.3 billion. The investment picture is now less about whether the science works and more about how durably Amvuttra can grow the ATTR-CM market against oral competitors, plus what its earlier-stage pipeline (Alzheimer's, bleeding disorders) can add on top.

Revenue is heavily concentrated in the TTR franchise, so any competitive share loss or reimbursement setback for Amvuttra would hit the whole story. The ATTR-CM market is now a genuine contest, with Pfizer's entrenched tafamidis (Vyndaqel/Vyndamax), BridgeBio's oral acoramidis (Attruby), and Ionis/AstraZeneca's eplontersen (Wainua) all competing. Biotech valuations are sensitive to clinical trial outcomes, and pipeline readouts in Alzheimer's and other areas could disappoint. The stock trades at a rich multiple of revenue that assumes years of strong growth, leaving room for sharp drawdowns on any stumble. Drug pricing pressure and patent or regulatory changes are ongoing overhangs for the sector.

24 analysts publish price targets on ALNY, averaging $386.29 against a $205.52 price as of August 2026, or +88.0%. The published targets run from $230.00 to $536.00, a wide spread, and the ratings split 22 buy, 6 hold, 0 sell. Over the last six months there has been 1 raise and 10 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full ALNY forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Alnylam Pharmaceuticals, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Amvuttra ATTR-CM ramp. The March 2025 approval of Amvuttra for ATTR cardiomyopathy opened a market many multiples larger than its original polyneuropathy indication, and the launch is the single biggest growth driver. The most optimistic published target, $536.00, assumes this works close to its best case.

The case against. Revenue is heavily concentrated in the TTR franchise, so any competitive share loss or reimbursement setback for Amvuttra would hit the whole story. The most pessimistic target, $230.00, is roughly what ALNY is worth if this bites instead.

Read the full bull and bear case on ALNY, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Alnylam Pharmaceuticals, Inc.'s investor relations page or your broker.

• Market cap: ~$42B
• Net product revenue (FY2025): ~$3.0B
• Net product revenue (TTM): ~$3.5B
• 2026 revenue guidance: ~$4.9B to $5.3B
• Q1 2026 net income: ~$206M
• Dividend: None

Alnylam reached profitability in 2025 after nearly $3 billion in net product revenue, and Q1 2026 delivered about $1.0 billion in net product revenue with roughly $206 million of net income. At a market cap near $42 billion against 2026 revenue guidance of roughly $5 billion, the stock carries a premium multiple that prices in continued rapid growth. It pays no dividend and reinvests cash into its RNAi pipeline.

If you want ALNY exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

These are the investment theses ALNY naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to ALNY: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ALNY exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (BBH, IBB, VXF), which spreads the position across many companies. Or build it into a focused thematic portfolio, so ALNY sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ALNY fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

ALNY is a rare biotech that has turned a decade of RNAi science into a genuinely profitable, multi-billion-dollar commercial franchise, but it carries the concentration risk of leaning heavily on Amvuttra in a newly competitive ATTR market.

Whether ALNY is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ALNY a buy or a sell?, and where the stock could go from here in the ALNY stock forecast.

For income investors, whether ALNY pays a dividend and how the payout looks is covered in does ALNY pay a dividend? And to weigh ALNY against a peer, read the full side-by-side comparisons: ALNY vs VRTX and ALNY vs REGN.