COMPARE · Reviewed August 1, 2026
ALNY vs INCY
Verdict: Side-by-side breakdown using the Bull Rankings model. ALNY scored 74.8, INCY scored 74.6 — ALNY leads.
Compare another set
Different reporting periods. ALNY's fundamentals are as of June 2026, but INCY's are as of March 2026 — a 3-month gap. Growth, margin and valuation figures below therefore describe different windows and aren't strictly like-for-like.
ALNY
Alnylam Pharmaceuticals, Inc.
74.8
$205.52 · $27.5B
fundamentals as of
Score gap
0.2
ALNY leads
INCY
Incyte Corporation
74.6
$119.52 · $24.2B
fundamentals as of
The model, pillar by pillar (0–100 each)
ALNY
stronger →← stronger
INCY
67
Qualityreturns · margins · balance sheet
84
100
Growthrevenue & earnings expansion
90
63
Valuevaluation vs sector peers
55
ALNY is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
ALNY
INCY
$465mC
FCF
$1.9bC+
+65.2%A
Rev
+21.5%A-
2.21D
D/E
0.01A
35.9xC+
P/E
15.2xA-
0.52A-
PEG
13.20D
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
ALNY
INCY
152% above
Price vs fair valuelower is cheaper
56% below
~39%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-5%/yr
-70%
1-yr DCF upside
+72%
-60%
5-yr DCF upside
+127%
-41%
10-yr DCF upside
+246%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
ALNY
Why this score
- Diluting shareholders
INCY
Why this score
- Diluting shareholders
The companies
ALNYAlnylam Pharmaceuticals, Inc.
Why now
Biotechnology · market cap $27.5b. Down 59% from 52-week high of $495.55 — deep drawdown territory. Revenue growing +65% — in hypergrowth territory. PEG 0.52 — paying under fair value for the growth rate. 23 sell-side analysts rate this a Buy with a mean 1-yr target of $427.61 (implying +108% upside).
Moat
Net margin 20% beats the market median by a meaningful margin — the company is keeping more of every revenue dollar than the average S&P constituent. ROE 54% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. Pharma moat is patent runway + pipeline depth — a single approved molecule funds the next generation of bets. Late-stage trials carry binary readouts that swing valuation 30%+.
Risk
D/E 2.21 is elevated — limits strategic flexibility and raises refinancing exposure if rates stay higher for longer. Down 59% from the 52-week high — the market is pricing in something the screen can't see; verify the bear case before sizing up. Trailing P/E 36x sits well above the S&P median (~20x) — multiple compression is a real risk if revenue growth decelerates.
INCYIncyte Corporation
Why now
Biotechnology · market cap $24.2b. 10% off the 52-week high of $132.60. Revenue growing +21%, comfortably above the S&P median. 22 sell-side analysts rate this a Buy with a mean 1-yr target of $122.86 (implying +3% upside).
Moat
Net margin 27% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 25% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 132% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Reimbursement risk — even an approved drug can fail commercially if payors don't reimburse; pricing pressure from Medicare and large PBMs has been accelerating since 2024.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.