Alnylam Pharmaceuticals Inc (ALNY) is overvalued and Regeneron Pharmaceuticals Inc (REGN) is overvalued.
Both trade above our estimate of their intrinsic value. REGN is the closer of the two: -23%, 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 9.1% (average of 3 methods) values the shares at $652.24; the price of $803.90 is 23% above that value, and 76% of that value comes from beyond year five.
Leak Score 42/100 on 10 of 12 signals
| Metric | ALNY | REGN |
|---|---|---|
| Verdict | Overvalued | Overvalued |
| Price | $251.65 | $803.90 |
| Intrinsic value | $184.17 | $652.24 |
| Margin of safety | -37% | -23% |
| Leak Score | 71/100 (9/12) | 42/100 (10/12) |
| Market cap | $33.7B | $82.8B |
| Revenue growth, 5 years | 49.8% | 11.0% |
| Operating margin | 20.8% | 26.9% |
| Net margin | 16.8% | 27.9% |
| Return on equity | 100.7% | 14.0% |
| Debt to equity | 2.21 | 0.09 |
| P/E | 42.5x | 19.9x |
| Forward P/E | 25.0x | 13.1x |
| P/B | 24.9x | 2.6x |
| Dividend yield | — | 0.4% |