Shares of Alnylam Pharmaceuticals are facing renewed scrutiny after a significant analyst revision. Morgan Stanley has adjusted its position on the biotech firm, lowering its price target substantially from $495 to $408 and revising its rating to “Equal-Weight.” This reassessment stems from a fresh analysis of the company’s long-term growth ambitions, particularly in light of its recently unveiled 2030 strategic plan. While Alnylam’s leadership emphasizes expansion, market observers are adopting a more cautious stance regarding its near-term valuation.
Financial Targets and Market Skepticism
The company’s strategic roadmap, introduced in January, outlines an ambitious goal of achieving over 25% annual revenue growth through the end of 2030. For the current fiscal year 2026, management is targeting product revenue in the range of $4.9 to $5.3 billion. This would represent a significant jump from the preliminary 2025 figures, which are approximately $2.99 billion.
A central component of this growth is expected to come from its transthyretin amyloidosis (TTR) franchise. Alnylam anticipates 2026 revenue from this segment to reach between $4.4 and $4.7 billion, solidifying its role as the primary revenue driver. The company also reaffirmed its objective of attaining a non-GAAP operating margin around 30% by 2030. The critical question for investors is whether this aggressive growth narrative can overcome the present market skepticism highlighted by the analyst downgrade.
Clinical Pipeline and Technical Pressure
Alongside its financial objectives, Alnylam continues to advance its clinical pipeline. Key milestones for this year include the initiation of a Phase 3 trial for nucresiran and a Phase 2 study for mivelsiran in the treatment of Alzheimer’s disease.
Should investors sell immediately? Or is it worth buying Alnylam?
However, technical factors are currently applying pressure to the stock’s chart. The share price recently declined below two key technical levels, falling under the 50-day moving average near $401.57 and the 200-day moving average at $423.47.
Investor attention is now firmly set on February 12. Ahead of the market open, Alnylam is scheduled to release its audited financial results for the fourth quarter and full year 2025. This report is anticipated to provide crucial details on the commercial performance of its drug Amvuttra, which in the third quarter of 2025 posted a remarkable 162% year-over-year revenue increase.
Key Data Points from the Analyst Revision:
* Morgan Stanley’s price target was reduced by approximately 17%.
* 2026 revenue guidance is set at $4.9 to $5.3 billion.
* The TTR franchise remains the core growth engine with projected revenue up to $4.7 billion.
* The stock is trading under technical pressure below its 50- and 200-day moving averages.
Ad
Alnylam Stock: Buy or Sell?! New Alnylam Analysis from February 3 delivers the answer:
The latest Alnylam figures speak for themselves: Urgent action needed for Alnylam investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from February 3.
Alnylam: Buy or sell? Read more here...
