Tearsheet

Alnylam Pharmaceuticals (ALNY)


Market Price (10/26/2025): $461.59 | Market Cap: $59.9 Bil
Sector: Health Care | Industry: Biotechnology

Alnylam Pharmaceuticals (ALNY)


Market Price (10/26/2025): $461.59
Market Cap: $59.9 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Low stock price volatility
Vol 12M is 44%
  Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -115 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.9%
1   Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.2%
2   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0%
0 Low stock price volatility
Vol 12M is 44%
1 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -115 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -4.9%
2 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -1.9%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -3.2%
3 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.0%

Market Valuation & Key Metrics

ALNY Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
ALNY Return13%30%40%-19%23%97%302%
Peers Return42%-3%-13%-12%-10%19%12%
S&P 500 Return16%27%-19%24%23%15%110%

Monthly Win Rates [3]
ALNY Win Rate58%50%58%50%33%78% 
Peers Win Rate35%32%43%38%27%56% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
ALNY Max Drawdown-19%-2%-29%-36%-25%-5% 
Peers Max Drawdown-39%-34%-35%-33%-35%-48% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: IONS, NTLA, SRPT, APM, BBOT. See ALNY Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/24/2025 (YTD)

How Low Can It Go

Unique KeyEventALNYS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-42.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven73.8%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven84 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-30.5%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven43.9%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven36 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-57.8%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven137.0%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven543 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-58.6%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven141.4%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven1577 days1480 days

Compare to IONS, NTLA, SRPT, APM, BBOT


In The Past

Alnylam Pharmaceuticals's stock fell -42.5% during the 2022 Inflation Shock from a high on 10/14/2021. A -42.5% loss requires a 73.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Alnylam Pharmaceuticals (ALNY)

Better Bets than Alnylam Pharmaceuticals (ALNY)

Latest Trefis Analyses

Trade Ideas

Select past ideas related to ALNY. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
3.5%3.5%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
2.8%2.8%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.4%6.4%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
19.5%19.5%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
17.1%17.1%-8.0%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ADMA_9302025_Dip_Buyer_ValueBuy09302025ADMAADMA BiologicsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
3.5%3.5%-4.6%
REGN_9302025_Dip_Buyer_ValueBuy09302025REGNRegeneron PharmaceuticalsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
2.8%2.8%-0.8%
HAE_9262025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG09262025HAEHaemoneticsDip BuyDB | FCF Yield | Low D/EDip Buy with High Free Cash Flow Yield
Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap
6.4%6.4%-0.1%
WAT_9192025_Monopoly_xInd_xCD_Getting_Cheaper09192025WATWatersMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
19.5%19.5%-4.3%
ISRG_9052025_Monopoly_xInd_xCD_Getting_Cheaper09052025ISRGIntuitive SurgicalMonopolyMY | Getting CheaperMonopoly-Like with P/S Decline
Large cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple
17.1%17.1%-8.0%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Alnylam Pharmaceuticals

Financials

ALNYIONSNTLASRPTAPMBBOTMedian
NameAlnylam .Ionis Ph.Intellia.Sarepta .Aptorum BridgeBi. 
Mkt Price463.4370.8625.6022.811.4910.9624.20
Mkt Cap60.111.22.72.2--7.0
Rev LTM2,348717532,482-0717
Op Inc LTM-115-472-512-1--93-115
FCF LTM-75-563-422-454--60-422
FCF 3Y Avg-184-438-396-505---417
CFO LTM-45-502-419-301--60-301
CFO 3Y Avg-131-401-387-395---391

Growth & Margins

ALNYIONSNTLASRPTAPMBBOTMedian
NameAlnylam .Ionis Ph.Intellia.Sarepta .Aptorum BridgeBi. 
Rev Chg LTM17.2%-7.6%15.0%64.9%--16.1%
Rev Chg 3Y Avg40.8%-1.4%6.2%45.0%--23.5%
Rev Chg Q20.2%10.1%104.8%68.4%--44.3%
QoQ Delta Rev Chg LTM4.4%1.7%16.0%11.1%--7.8%
Op Mgn LTM-4.9%-65.9%-968.7%-0.0%---35.4%
Op Mgn 3Y Avg-27.5%-65.7%-991.9%-16.1%---46.6%
QoQ Delta Op Mgn LTM3.0%1.5%218.7%5.2%--4.1%
CFO/Rev LTM-1.9%-70.0%-791.9%-12.1%---41.0%
CFO/Rev 3Y Avg-13.1%-59.0%-766.0%-29.1%---44.0%
FCF/Rev LTM-3.2%-78.5%-798.0%-18.3%---48.4%
FCF/Rev 3Y Avg-16.6%-64.4%-785.0%-35.5%---50.0%

Valuation

ALNYIONSNTLASRPTAPMBBOTMedian
NameAlnylam .Ionis Ph.Intellia.Sarepta .Aptorum BridgeBi. 
Mkt Cap60.111.22.72.2--7.0
P/S25.615.750.20.9--20.6
P/EBIT-286.0-29.8-5.2-446.5---157.9
P/E-222.8-24.6-5.5-38.6---31.6
P/CFO-1,332.2-22.4-6.3-7.4---14.9
Total Yield-0.4%-4.1%-18.1%-2.6%---3.3%
Dividend Yield0.0%0.0%0.0%0.0%--0.0%
FCF Yield 3Y Avg-0.8%-7.0%-23.9%-12.0%---9.5%
D/E0.00.10.00.6--0.1
Net D/E-0.0-0.1-0.10.2---0.0

Returns

ALNYIONSNTLASRPTAPMBBOTMedian
NameAlnylam .Ionis Ph.Intellia.Sarepta .Aptorum BridgeBi. 
1M Rtn3.1%12.5%54.1%28.7%-16.8%-7.3%7.8%
3M Rtn40.9%67.7%88.3%91.2%-17.7%-67.7%
6M Rtn84.2%138.6%208.1%-62.3%53.6%-84.2%
12M Rtn62.7%80.8%60.5%-82.6%-9.7%-60.5%
3Y Rtn130.5%59.8%-51.3%-80.0%-77.3%--51.3%
1M Excs Rtn0.2%9.7%51.3%25.9%-19.6%-10.1%5.0%
3M Excs Rtn36.4%65.8%89.0%58.3%-13.7%-58.3%
6M Excs Rtn61.3%115.7%185.1%-85.2%30.7%-61.3%
12M Excs Rtn40.2%67.1%5.4%-98.3%-28.9%-5.4%
3Y Excs Rtn57.6%-24.5%-135.2%-163.5%-164.2%--135.2%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
AMVUTTRA558940  
Net revenues from collaborations54613518113153
ONPATTRO355558475306166
GIVLAARI219173128550
OXLUMO11070600 
Royalty revenue4181  
Total1,8281,037844493220


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity3,993,922
Short Interest: % Change Since 930202513.9%
Average Daily Volume1,146,101
Days-to-Cover Short Interest3.48
Basic Shares Quantity129,676,000
Short % of Basic Shares3.1%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/31/202515.4%26.0%33.1%
2/15/2024-10.2%-0.8%-9.1%
11/2/20232.9%7.9%9.2%
8/3/20231.7%-0.3%5.8%
5/4/20233.0%5.7%-2.9%
1/9/2023-2.3%4.7%-1.8%
10/27/2022-3.5%6.6%5.8%
7/28/20221.1%49.3%50.7%
...
SUMMARY STATS   
# Positive10119
# Negative10911
Median Positive2.3%6.6%13.2%
Median Negative-3.7%-7.5%-6.6%
Max Positive15.4%49.3%50.7%
Max Negative-15.2%-9.6%-18.9%

SEC Filings

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Report DateFiling DateFiling
6302025731202510-Q 6/30/2025
3312025501202510-Q 3/31/2025
12312024213202510-K 12/31/2024
93020241031202410-Q 9/30/2024
6302024801202410-Q 6/30/2024
3312024502202410-Q 3/31/2024
12312023215202410-K 12/31/2023
93020231102202310-Q 9/30/2023
6302023803202310-Q 6/30/2023
3312023504202310-Q 3/31/2023
12312022223202310-K 12/31/2022
93020221027202210-Q 9/30/2022
6302022728202210-Q 6/30/2022
3312022428202210-Q 3/31/2022
12312021210202210-K 12/31/2021
93020211028202110-Q 9/30/2021

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Tanguler TolgaEVP, Chief Commercial Officer9022025Sell445.5319586,87813,041,109Form
1Reitan Colleen F 5122025Buy286.00329,1529,152Form
2Garg PushkalCMO & EVP Dev & Med Affairs3252025Sell285.004,3211,231,4855,762,985Form
3Fitzgerald Kevin JosephCSO & EVP, Head of Research3032025Sell236.51276,3863,040,100Form
4Garg PushkalCMO & EVP Dev & Med Affairs12132024Sell247.4812129,9454,290,313Form