Alnylam Pharmaceuticals Stock Drop Looks Sharp, But How Deep Can It Go?

Alnylam Pharmaceuticals (ALNY) stock is down 12.4% in 5 trading days. The recent slide reflects renewed concerns around Amvuttra’s Q4 sales miss and analyst price target cuts, but sharp drops like this often raise a tougher question: is the weakness temporary, or a sign of deeper cracks in the story?

Before judging its downturn reslience, let’s look at where Alnylam Pharmaceuticals stands today.

• Size: Alnylam Pharmaceuticals is a $49 Bil company with $3.2 Bil in revenue currently trading at $369.96.
• Fundamentals: Last 12 month revenue growth of 53.2% and operating margin of 8.2%.
• Liquidity: Has Debt to Equity ratio of 0.03 and Cash to Assets ratio of 0.56
• Valuation: Alnylam Pharmaceuticals stock is currently trading at P/E multiple of 1116.3 and P/EBIT multiple of 373.2
• Has returned (median) -0.9% within a year following sharp dips since 2010. See ALNY Dip Buy Analysis.

These metrics point to a Strong operational performance, alongside Very High valuation – making the stock Relatively Expensive. For details, see Buy or Sell ALNY Stock

That brings us to the key consideration for investors worried about this fall: how resilient is ALNY stock if markets turn south? This is where our downturn resilience framework comes in. Suppose ALNY stock falls another 20-30% to $259 – can investors comfortably hold on? Turns out, the stock saw an impact slightly worse than the S&P 500 index during various economic downturns, based on (a) how much the stock fell and, (b) how quickly it recovered. Below, we dive deeper into each such downturn.

2022 Inflation Shock

• ALNY stock fell 42.5% from a high of $209.29 on 14 October 2021 to $120.42 on 11 May 2022 vs. a peak-to-trough decline of 25.4% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 3 August 2022
• Since then, the stock increased to a high of $491.22 on 20 October 2025 , and currently trades at $369.96

 
2020 Covid Pandemic

• ALNY stock fell 30.5% from a high of $133.99 on 12 February 2020 to $93.12 on 12 March 2020 vs. a peak-to-trough decline of 33.9% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 17 April 2020

 
2018 Correction

• ALNY stock fell 57.8% from a high of $148.54 on 20 March 2018 to $62.67 on 24 December 2018 vs. a peak-to-trough decline of 19.8% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 19 June 2020

 
2008 Global Financial Crisis

• ALNY stock fell 58.6% from a high of $36.55 on 9 October 2007 to $15.14 on 9 March 2009 vs. a peak-to-trough decline of 56.8% for the S&P 500.
• However, the stock fully recovered to its pre-Crisis peak by 3 July 2013

 
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