Alnylam Pharmaceuticals (ALNY) Stock Forecast & Price Target

Alnylam Pharmaceuticals has demonstrated a strong potential for revenue growth, with total product revenue projections for 2026 increased to $5.16 billion, driven primarily by enhanced platform revenues and significant contributions from TTR-related treatments. The company's strategic focus on developing RNA interference therapeutics across diverse therapeutic areas positions it advantageously for margin expansion, particularly through the favorable economics associated with nucresiran compared to existing therapies. Additionally, Alnylam's pathway to achieving sustainable non-GAAP profitability, alongside a commitment to innovative treatments for rare and prevalent diseases, reinforces a positive outlook for the company's financial performance.

Alnylam Pharmaceuticals is experiencing a subtle downward revision in growth projections, particularly within its rare disease franchise, which is now estimated to generate $500 million to $600 million, indicating a deceleration compared to previous expectations. Additionally, lowered revenue forecasts for its TTR therapy, with peak annual revenue for AMVUTTRA adjusted down to $9.7 billion by 2030, coupled with a reduced peak revenue forecast for nucresiran, suggest challenges in sustaining prior growth trajectories. Furthermore, increasing competition, uncertain commercial uptake of novel treatments, and a slower path to profitability contribute to a concerning financial outlook, exacerbated by disappointing non-GAAP operating margins that fell below consensus expectations.