Alnylam Pharmaceuticals
ALNY on Nasdaq. Alnylam Pharmaceuticals sells RNAi medicines to patients with genetic diseases. Market value $29.4bn.
Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.55 of spare cash last year. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 48 of 100. Price score: 39 of 100. Our list needs 70 on quality and 60 on price.
$223.94 a share, 13% above its 1-year low
Over the past year the price has ranged from $197.81 to $495.55.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $844m | $1.0bn | $1.8bn | $2.2bn | $3.7bn |
| Operating margin | |||||
| Operating margin | -83.9% | -75.7% | -15.4% | -7.9% | 13.5% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.12bn | 0.13bn | 0.13bn | 0.13bn | 0.13bn |
Health checks
- Free cash flow positive2 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsStrong, 49.8% a year
- Buying back its own sharesNo, 9% more shares since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
| Quarter to | Amount |
|---|---|
| June 2024 | $660m |
| September 2024 | $501m |
| December 2024 | $593m |
| March 2025 | $594m |
| June 2025 | $774m |
| September 2025 | $1.2bn |
| December 2025 | $1.1bn |
| June 2026 | $1.3bn |
| Quarter to | Amount |
|---|---|
| June 2024 | -$17m |
| September 2024 | -$112m |
| December 2024 | -$84m |
| March 2025 | -$18m |
| June 2025 | -$72m |
| September 2025 | $251m |
| December 2025 | $112m |
| June 2026 | $164m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- 29 October 2026
- Last annual report (10-K)
- 12 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
4 long-term investors we follow own it, unchanged from 4 last quarter. 788 funds in all.
- Dodge & CoxDodge & Cox investment committee
- Value
- $589m
- Share of fund
- 0.3%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Orbis Investment ManagementOrbis team (Allan Gray lineage) | $598m | 2.1% | Added |
| Dodge & CoxDodge & Cox investment committee | $589m | 0.3% | |
| Gotham Asset ManagementJoel Greenblatt | $13m | <0.1% | Cut |
| Horizon KineticsMurray Stahl | $652,633 | <0.1% | Cut |
Largest holders overall
- FMR$4.5bnAdded
- Capital World Investors$3.4bnAdded
- BlackRock$3.3bnAdded
- Capital Research Global Investors$2.9bnAdded
- Banque Cantonale Vaudoise$2.2bnAdded
- Vanguard Portfolio Management$2.0bn
- Vanguard Capital Management$1.8bn
- T. Rowe Price Investment Management$1.7bnAdded
- Invesco$1.1bnCut
- State Street$1.1bnAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- FMR LLCPassive investorat least 11.0%−1.8 pts(filed with 1 related holder)Since 31 March 2026
- Capital World InvestorsPassive investor8.2%Since 31 March 2026
- Capital Research Global InvestorsPassive investor7.1%+1.7 ptsSince 31 March 2026
- Vanguard Capital ManagementPassive investor5.3%Since 31 March 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 11.0%−1.8 pts (filed with 1 related holder) | 31 March 2026 | |
Capital World Investors Passive investor | 8.2% | 31 March 2026 | |
Capital Research Global Investors Passive investor | 7.1%+1.7 pts | 31 March 2026 | |
Vanguard Capital Management Passive investor | 5.3% | 31 March 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 8 sold $44m, $28m of it under preset trading plans.
- SUPRAN BRYANEVP, CLO and SecretarySold
- Date
- 2 October 2026
- Shares
- 1,758
- Price
- $226.88
- Value
- $398,855
- PYOTT DAVID E IDirectorSoldunder a preset trading plan
- Date
- 1 June 2026
- Shares
- 3,830
- Price
- $299.18
- Value
- $1m
- McLaughlin MelissaChief Human Resources OfficerSoldunder a preset trading plan
- Date
- 6 April 2026
- Shares
- 2,286
- Price
- $330.42
- Value
- $755,329
- McLaughlin MelissaChief Human Resources OfficerSoldunder a preset trading plan
- Date
- 2 April 2026
- Shares
- 1,624
- Price
- $319.59
- Value
- $519,014
- Garg PushkalEVP Chief R&DSoldunder a preset trading plan
- Date
- 5 March 2026
- Shares
- 2,404
- Price
- $323.96
- Value
- $778,812
- Fitzgerald Kevin JosephCSO & EVP, Head of ResearchSoldunder a preset trading plan
- Date
- 5 March 2026
- Shares
- 658
- Price
- $323.98
- Value
- $213,177
- Garg PushkalEVP Chief R&DSoldunder a preset trading plan
- Date
- 4 March 2026
- Shares
- 2,309
- Price
- $323.08
- Value
- $745,984
- Greenstreet YvonneChief Executive Officer, DirectorSold
- Date
- 4 March 2026
- Shares
- 2,933
- Price
- $323.08
- Value
- $947,581
- Poulton Jeffrey V.EVP, Chief Financial OfficerSold
- Date
- 4 March 2026
- Shares
- 2,468
- Price
- $323.08
- Value
- $797,351
- Tanguler TolgaEVP, Chief Commercial OfficerSold
- Date
- 4 March 2026
- Shares
- 2,309
- Price
- $323.08
- Value
- $745,984
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 2 October 2026 | SUPRAN BRYAN EVP, CLO and Secretary | Sold | 1,758 | $226.88 | $398,855 |
| 1 June 2026 | PYOTT DAVID E I Director | Sold under a preset trading plan | 3,830 | $299.18 | $1m |
| 6 April 2026 | McLaughlin Melissa Chief Human Resources Officer | Sold under a preset trading plan | 2,286 | $330.42 | $755,329 |
| 2 April 2026 | McLaughlin Melissa Chief Human Resources Officer | Sold under a preset trading plan | 1,624 | $319.59 | $519,014 |
| 5 March 2026 | Garg Pushkal EVP Chief R&D | Sold under a preset trading plan | 2,404 | $323.96 | $778,812 |
| 5 March 2026 | Fitzgerald Kevin Joseph CSO & EVP, Head of Research | Sold under a preset trading plan | 658 | $323.98 | $213,177 |
| 4 March 2026 | Garg Pushkal EVP Chief R&D | Sold under a preset trading plan | 2,309 | $323.08 | $745,984 |
| 4 March 2026 | Greenstreet Yvonne Chief Executive Officer, Director | Sold | 2,933 | $323.08 | $947,581 |
| 4 March 2026 | Poulton Jeffrey V. EVP, Chief Financial Officer | Sold | 2,468 | $323.08 | $797,351 |
| 4 March 2026 | Tanguler Tolga EVP, Chief Commercial Officer | Sold | 2,309 | $323.08 | $745,984 |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 4 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.