Bernstein SocGen Group maintained an Outperform rating and a $376 price target on Alnylam Pharmaceuticals (NASDAQ:ALNY) as investors await data from the TRITON-CM study evaluating the company’s nucresiran therapy.
The stock last traded at $236.01, down 46.8% over the past 12 months, even as Alnylam reported adjusted earnings per share of $1.84 for Q2 2026, exceeding Wall Street’s $1.60 estimate. Total revenue reached $1.29 billion, missing the $1.32 billion forecast, prompting a reduction in the full-year revenue outlook. Net product revenues grew 74% year-over-year to $1.17 billion, with TTR net product revenues up 89% to $1.03 billion.
Other analysts adjusted their outlooks following the results. RBC Capital lowered its price target to $350 while keeping an Outperform rating, and BMO Capital initiated coverage with an Outperform rating and a $318 target. Raymond James upgraded the shares to Strong Buy from Outperform, while H.C. Wainwright reiterated a Buy rating with a $485 target. Bernstein’s risk-adjusted scenarios for TRITON-CM assign a 71% probability of positive clinical benefit with nucresiran added to the background stabilizer and a 29% chance of no benefit.
The company’s focus remains on nucresiran, part of its TRITON-CM study in the ATTR portfolio. The drug’s prospects are contrasted with AstraZeneca’s CARDIO-TTRansform study, which reported negative results at the ESC Congress over the weekend. Alnylam’s valuation metrics, including a PEG ratio of 0.12, remain a point of interest amid the mixed analyst sentiment.
