Alnylam Pharmaceuticals Inc (ALNY) is overvalued and Argen X SE ADR (ARGX) is overvalued.
Both trade above our estimate of their intrinsic value. ARGX is the closer of the two: -27%, against -37% for ALNY.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.4% (average of 3 methods) values the shares at $184.17; the price of $251.65 is 37% above that value, and 83% of that value comes from beyond year five.
Leak Score 71/100 on 9 of 12 signals
Discounting its cash flows at 8.0% (average of 3 methods) values the shares at $758.94; the price of $963.79 is 27% above that value, and 81% of that value comes from beyond year five.
Leak Score 59/100 on 3 of 12 signals
| Metric | ALNY | ARGX |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $251.65 | $963.79 |
| Intrinsic value | $184.17 | $758.94 |
| Margin of safety | -37% | -27% |
| Leak Score | 71/100 (9/12) | 59/100 (3/12) |
| Market cap | $33.7B | $60.3B |
| Revenue growth, 5 years | 49.8% | 151.4% |
| Operating margin | 20.8% | 28.8% |
| Net margin | 16.8% | 32.8% |
| Return on equity | 100.7% | 23.6% |
| Debt to equity | 2.21 | 0.01 |
| P/E | 42.5x | 36.7x |
| Forward P/E | 25.0x | 25.1x |
| P/B | 24.9x | 7.1x |