ALNY: Future Momentum In Cardiomyopathy Will Meet Rising Competition And Pricing Pressures

The analyst price target for Alnylam Pharmaceuticals has increased by approximately $9 to $489, as analysts cite strong Amvuttra sales, raised revenue guidance, and resilient commercial momentum as key factors supporting a more optimistic outlook.

Analyst Commentary

Analysts have provided a range of perspectives following Alnylam Pharmaceuticals’ recent performance, with several raising their price targets and highlighting both catalysts and areas of caution for the company’s outlook.

Bullish Takeaways

• Bullish analysts point to robust Amvuttra sales, particularly driven by the strong U.S. performance in ATTR-CM, as a key driver for raised revenue guidance and higher price targets.
• The company’s ability to consistently surpass sales expectations and increase guidance, particularly for TTR-related revenues, has reinforced confidence in execution and long-term growth potential.
• Commercial momentum in new product launches continues to surpass expectations, suggesting ongoing upside through 2025 and strengthening the investment case.
• Expansion opportunities remain attractive. Pipeline data in obesity, CNS, and bleeding disorders are expected in 2026, supporting further platform growth potential.

Bearish Takeaways

• Bearish analysts caution that at current levels, much of the near-term optimism may already be reflected in the company’s valuation, leaving less room for outperformance.
• Concerns linger about intensifying competition and evolving pricing pressures, which could weigh on the stock and limit upward movement.
• Some have removed Alnylam from conviction lists, reflecting a perception of more balanced risk/reward and the potential for range-bound trading in the medium term.
• While guidance and momentum are positive, not all pipeline milestones have met predefined expectations, tempering enthusiasm around certain development programs.

What's in the News

• Alnylam Pharmaceuticals raised its 2025 net product revenue guidance to a range of $2,950 million to $3,050 million, up from the previous $2,650 million to $2,800 million. (Corporate Guidance)
• New analyses from the HELIOS-B Phase 3 study of AMVUTTRA (vutrisiran) show sustained clinical benefit, including reduced risk of mortality and cardiovascular events, after up to 48 months of treatment. (Product-Related Announcement)
• Post hoc HELIOS-B study analysis presented at major conferences demonstrated vutrisiran’s potential to lower rates of gastrointestinal events and preserve kidney function in ATTR-CM patients. (Product-Related Announcement)
• The first patient has been dosed in the global Phase 3 ZENITH trial assessing zilebesiran as a biannual therapy to reduce major cardiovascular events in uncontrolled hypertension. The trial has a target enrollment of 11,000 patients worldwide. (Product-Related Announcement)
• Alnylam joined the Alliance for Genomic Discovery, expanding its access to a major clinical genomic database to accelerate drug target discovery and development. (Client Announcement)

Valuation Changes

• The consensus analyst price target has risen slightly, increasing from $480.17 to $489.09 per share.
• The discount rate has also edged higher, moving from 7.06% to 7.11%.
• Revenue growth projections have increased modestly, from 33.68% to 34.13%.
• Net profit margin is up fractionally, climbing from 29.67% to 29.80%.
• The future P/E ratio has declined slightly, moving from 36.52x to 36.44x.