Alnylam shares drop 18% after AstraZeneca/Ionis trial failure, but outlook remains cautiously optimistic.

Shares of Alnylam Pharmaceuticals fell 18% following concerns about its ATTR-CM franchise after a failed trial by AstraZeneca and Ionis. Despite the setback, the author believes the pessimism is excessive, citing nucresiran's stronger TTR knockdown and different trial design as reasons for optimism about Alnylam's TRITON-CM trial. Even if TRITON-CM fails, Alnylam's Amvuttra drug and diverse pipeline reduce downside risks. The author values Alnylam shares at $392 each, suggesting the current price may undervalue the company, especially for risk-tolerant investors.

Following the news about Alnylam Pharmaceuticals' trial concerns, the stock is trading lower but not as sharply as the article's 18% drop, with a 1-day change of -1.49% on Pluang as of Sep 28, 2026 23:21 WIB. Alnylam shares are priced at USD 252.14 on Pluang, well below their 52-week high of USD 491.22, reflecting ongoing market caution. The company's market cap stands at $34.25 billion, and typical investors hold the stock for about 40 days on the platform.