Morgan Stanley Raises Alnylam Pharmaceuticals Price Target to $370

Morgan Stanley has increased its price target for Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) from $360 to $370, while maintaining an Equal Weight rating on the stock. This adjustment follows the company's strong first-quarter 2026 financial results, which marked a significant milestone with global net product revenues surpassing $1 billion for the first time in a single quarter. Specifically, Alnylam reported $1.036 billion in revenues, representing a 121% year-over-year increase. This growth was primarily driven by its TTR franchise, which generated $910 million, a 153% surge largely attributed to the drug AMVUTTRA contributing $890 million. CEO Yvonne Greenstreet highlighted this achievement alongside ongoing progress in Phase 3 and Phase 1 pipeline programs. Consequently, Alnylam reiterated its full-year 2026 revenue guidance of $4.9 billion to $5.3 billion, with TTR products expected to contribute between $4.4 billion and $4.7 billion. As a developer of RNA interference-based therapeutics headquartered in Cambridge, Massachusetts, Alnylam continues to demonstrate robust market momentum. The analyst upgrade reflects confidence in the company's commercial execution and future prospects within the biotechnology sector.