Did Alnylam Pharmaceuticals’ (ALNY) Profit Surge and Revenue Upgrade Just Shift Its Investment Narrative?

• Alnylam Pharmaceuticals, Inc. recently reported third quarter 2025 results, posting revenues of US$1.25 billion and net income of US$251.08 million, a substantial turnaround from a net loss of US$111.57 million in the same period last year; the company also raised its full-year 2025 revenue guidance to between US$2.95 billion and US$3.05 billion.
• This strong shift to profitability and significantly higher revenue outlook highlights accelerating commercial momentum for Alnylam's RNAi therapies, suggesting expanding market adoption and improved operational efficiency.
• With Alnylam's upgraded annual revenue guidance, we'll explore how this signals increased confidence in the company's near-term growth trajectory.

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Alnylam Pharmaceuticals Investment Narrative Recap

To be a shareholder in Alnylam Pharmaceuticals, you need conviction in the continued broad adoption of its RNAi therapies and the company’s ability to drive significant revenue growth, primarily through strong execution with AMVUTTRA and rapid international expansion. The Q3 2025 earnings report, showing a sharp jump to profitability and upgraded revenue guidance, further strengthens confidence in top-line momentum, though it does not entirely mitigate the heavy revenue concentration risk tied to the TTR franchise or rising gross-to-net rebate pressures. The most important short-term catalyst remains accelerating AMVUTTRA uptake, while deepening payor dynamics and future gross margin compression continue to represent the most significant risks for shareholders.

Among the recent announcements, the raised full-year revenue guidance stands out as most relevant, directly reflecting expanding demand for Alnylam products and greater near-term confidence following the strong Q3 surprise. This upgraded forecast also offers context to current catalysts, as it is contingent on maintaining impressive commercial execution in both established and new markets, crucial for translating high sales into sustained profitability. Contrast this with anticipated gross margin declines which investors should be aware of, especially as royalty obligations on blockbuster products increase...

Read the full narrative on Alnylam Pharmaceuticals (it's free!)

Alnylam Pharmaceuticals' narrative projects $7.0 billion revenue and $1.9 billion earnings by 2028. This requires 41.8% yearly revenue growth and a $2.2 billion increase in earnings from current earnings of -$319.1 million.

Uncover how Alnylam Pharmaceuticals' forecasts yield a $467.94 fair value, a 3% downside to its current price.

Exploring Other Perspectives

Five Simply Wall St Community fair value estimates for Alnylam range widely from US$259.89 to US$840.37, reflecting significant divergence in growth expectations and risk appetite. With gross-to-net adjustments and margin pressures still in focus, you can compare these contrasting outlooks to see how opinions align or differ on Alnylam’s future.

Explore 5 other fair value estimates on Alnylam Pharmaceuticals - why the stock might be worth as much as 74% more than the current price!

Build Your Own Alnylam Pharmaceuticals Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Alnylam Pharmaceuticals research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Alnylam Pharmaceuticals research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Alnylam Pharmaceuticals' overall financial health at a glance.

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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.

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