Alnylam Pharmaceuticals (ALNY) is back in focus after its 28.35% intraday share price drop on July 30, 2026, following lowered 2026 TTR product sales guidance despite solid reported quarterly revenue and net income.

Set against this earnings release and guidance change, Alnylam Pharmaceuticals' share price has been under pressure for much of 2026, with a year to date share price return down 42.84% and a 1 year total shareholder return down 47.43%. However, the 3 year total shareholder return of 23.61% and 5 year total shareholder return of 13.84% point to a mixed picture where recent momentum has faded compared with longer term outcomes.

If this type of sharp sentiment shift has your attention, it can help to widen the lens and see what else is moving in related areas. One logical next step is to scan other healthcare focused AI opportunities using our dedicated screener, including 42 healthcare AI stocks

Alnylam Pharmaceuticals now sits at the crossroads of strong recent earnings and a sharply revised TTR outlook. Is the latest share price reset saying more about the business fundamentals, or about sentiment swinging too far, too fast?

Most Popular Narrative: 47.4% Undervalued

Compared with Alnylam Pharmaceuticals' last close of $228.72, the most widely followed narrative points to a fair value of $434.72, which implies a large gap that this framework attempts to explain.

The analysts have a consensus price target of $434.72 for Alnylam Pharmaceuticals based on their expectations of its future earnings growth, profit margins and other risk factors.

However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of $550.0, and the most bearish reporting a price target of just $310.0.

Want to see what has to happen for that fair value to stack up? The narrative focuses on rising earnings, faster revenue growth and a richer future profit multiple.

Result: Fair Value of $434.72 (UNDERVALUED)

However, the bullish Alnylam Pharmaceuticals narrative still hinges on successful Amvuttra execution and stable pricing, while heavy TTR reliance leaves earnings sensitive to any franchise setback.

Another View on Alnylam Pharmaceuticals’ Valuation

The analyst fair value of $434.72 suggests Alnylam Pharmaceuticals is 47.4% undervalued, yet its current P/E of 39.5x is higher than both the estimated fair ratio of 32.6x and the US Biotechs average of 17.1x, as well as a 27.7x peer average. That kind of premium can point to valuation risk if expectations reset again.

For a closer look at what the numbers say about this pricing gap, See what the numbers say about this price — find out in our valuation breakdown.

Next Steps

With sentiment this mixed around Alnylam Pharmaceuticals, it makes sense to move quickly, review the underlying data, and decide where you stand. To see why some investors remain optimistic, take a closer look at the 3 key rewards.

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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.