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Stock Comparison

INSM vs BMRN vs RARE vs ALNY vs IONS

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
INSM
Insmed Incorporated

Biotechnology

HealthcareNASDAQ • US
Market Cap$22.62B
5Y Perf.+331.5%
BMRN
BioMarin Pharmaceutical Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$10.41B
5Y Perf.-49.2%
RARE
Ultragenyx Pharmaceutical Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$2.57B
5Y Perf.-61.8%
ALNY
Alnylam Pharmaceuticals, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$39.48B
5Y Perf.+118.8%
IONS
Ionis Pharmaceuticals, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$12.56B
5Y Perf.+35.2%

INSM vs BMRN vs RARE vs ALNY vs IONS — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
INSM logoINSM
BMRN logoBMRN
RARE logoRARE
ALNY logoALNY
IONS logoIONS
IndustryBiotechnologyBiotechnologyBiotechnologyBiotechnologyBiotechnology
Market Cap$22.62B$10.41B$2.57B$39.48B$12.56B
Revenue (TTM)$606M$3.24B$669M$4.29B$1.06B
Net Income (TTM)$-1.28B$269M$-609M$577M$-327M
Gross Margin79.4%75.9%83.6%80.9%98.3%
Operating Margin-194.0%13.8%-83.9%17.5%-33.3%
Forward P/E12.6x44.2x
Total Debt$768M$643M$1.28B$1.28B$2.61B
Cash & Equiv.$510M$1.31B$434M$1.66B$372M

INSM vs BMRN vs RARE vs ALNY vs IONSLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

INSM
BMRN
RARE
ALNY
IONS
StockMay 20May 26Return
Insmed Incorporated (INSM)100431.5+331.5%
BioMarin Pharmaceut… (BMRN)10050.8-49.2%
Ultragenyx Pharmace… (RARE)10038.2-61.8%
Alnylam Pharmaceuti… (ALNY)100218.8+118.8%
Ionis Pharmaceutica… (IONS)100135.2+35.2%

Price return only. Dividends and distributions are not included.

Quick Verdict: INSM vs BMRN vs RARE vs ALNY vs IONS

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: INSM and ALNY are tied at the top with 2 categories each (5-stock set) — the right choice depends on your priorities. Alnylam Pharmaceuticals, Inc. is the stronger pick specifically for profitability and margin quality and operational efficiency and capital deployment. BMRN and IONS also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
INSM
Insmed Incorporated
The Income Pick

INSM has the current edge in this matchup, primarily because of its strength in income & stability and long-term compounding.

  • beta 0.54
  • 7.9% 10Y total return vs ALNY's 411.9%
  • Lower volatility, beta 0.54, current ratio 3.83x
  • Beta 0.54, current ratio 3.83x
Best for: income & stability and long-term compounding
BMRN
BioMarin Pharmaceutical Inc.
The Value Play

BMRN ranks third and is worth considering specifically for value.

  • Better valuation composite
Best for: value
RARE
Ultragenyx Pharmaceutical Inc.
The Growth Angle

Among these 5 stocks, RARE doesn't own a clear edge in any measured category.

Best for: healthcare exposure
ALNY
Alnylam Pharmaceuticals, Inc.
The Growth Play

ALNY is the #2 pick in this set and the best alternative if growth exposure is your priority.

  • Rev growth 65.2%, EPS growth 206.9%, 3Y rev CAGR 53.0%
  • 13.5% margin vs INSM's -210.5%
  • 11.8% ROA vs INSM's -57.3%, ROIC 33.4% vs -86.5%
Best for: growth exposure
IONS
Ionis Pharmaceuticals, Inc.
The Momentum Pick

IONS is the clearest fit if your priority is momentum.

  • +129.9% vs RARE's -21.8%
Best for: momentum
See the full category breakdown
CategoryWinnerWhy
GrowthINSM logoINSM66.7% revenue growth vs BMRN's 12.9%
ValueBMRN logoBMRNBetter valuation composite
Quality / MarginsALNY logoALNY13.5% margin vs INSM's -210.5%
Stability / SafetyINSM logoINSMBeta 0.54 vs RARE's 1.42
DividendsTieNone of these 5 stocks pay a meaningful dividend
Momentum (1Y)IONS logoIONS+129.9% vs RARE's -21.8%
Efficiency (ROA)ALNY logoALNY11.8% ROA vs INSM's -57.3%, ROIC 33.4% vs -86.5%

INSM vs BMRN vs RARE vs ALNY vs IONS — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

INSMInsmed Incorporated
FY 2025
Reportable Segment
100.0%$606M
BMRNBioMarin Pharmaceutical Inc.
FY 2025
Product
98.3%$3.2B
Royalty And Other
1.7%$53M
RAREUltragenyx Pharmaceutical Inc.
FY 2025
Product
54.8%$369M
Royalty
45.2%$304M
ALNYAlnylam Pharmaceuticals, Inc.
FY 2025
GIVLAARI
64.1%$308M
ONPATTRO
35.9%$173M
IONSIonis Pharmaceuticals, Inc.
FY 2025
Commercial Member
52.1%$436M
Royalty
34.1%$286M
Product
13.8%$115M

INSM vs BMRN vs RARE vs ALNY vs IONS — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLALNYLAGGINGIONS

Income & Cash Flow (Last 12 Months)

ALNY leads this category, winning 3 of 6 comparable metrics.

ALNY is the larger business by revenue, generating $4.3B annually — 7.1x INSM's $606M. ALNY is the more profitable business, keeping 13.5% of every revenue dollar as net income compared to INSM's -2.1%. On growth, INSM holds the edge at +152.6% YoY revenue growth, suggesting stronger near-term business momentum.

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
RevenueTrailing 12 months$606M$3.2B$669M$4.3B$1.1B
EBITDAEarnings before interest/tax-$1.2B$521M-$536M$677M$4.5B
Net IncomeAfter-tax profit-$1.3B$269M-$609M$577M-$327M
Free Cash FlowCash after capex-$998M$767M-$487M$641M-$971M
Gross MarginGross profit ÷ Revenue+79.4%+75.9%+83.6%+80.9%+98.3%
Operating MarginEBIT ÷ Revenue-194.0%+13.8%-83.9%+17.5%-33.3%
Net MarginNet income ÷ Revenue-2.1%+8.3%-91.0%+13.5%-30.9%
FCF MarginFCF ÷ Revenue-164.5%+23.7%-72.8%+15.0%-91.8%
Rev. Growth (YoY)Latest quarter vs prior year+152.6%+2.8%-2.4%+96.4%+87.0%
EPS Growth (YoY)Latest quarter vs prior year-16.7%-43.2%-17.2%+4.4%+39.8%
ALNY leads this category, winning 3 of 6 comparable metrics.

Valuation Metrics

BMRN leads this category, winning 5 of 6 comparable metrics.

At 30.1x trailing earnings, BMRN trades at a 76% valuation discount to ALNY's 127.0x P/E. On an enterprise value basis, BMRN's 15.9x EV/EBITDA is more attractive than ALNY's 70.2x.

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
Market CapShares × price$22.6B$10.4B$2.6B$39.5B$12.6B
Enterprise ValueMkt cap + debt − cash$22.9B$9.7B$3.4B$39.1B$14.8B
Trailing P/EPrice ÷ TTM EPS-16.35x30.07x-4.48x127.00x-31.94x
Forward P/EPrice ÷ next-FY EPS est.12.60x44.18x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple15.89x70.17x
Price / SalesMarket cap ÷ Revenue37.30x3.23x3.82x10.63x13.31x
Price / BookPrice ÷ Book value/share30.30x1.75x50.50x24.87x
Price / FCFMarket cap ÷ FCF14.36x84.84x
BMRN leads this category, winning 5 of 6 comparable metrics.

Profitability & Efficiency

ALNY leads this category, winning 5 of 9 comparable metrics.

ALNY delivers a 98.3% return on equity — every $100 of shareholder capital generates $98 in annual profit, vs $-6 for RARE. BMRN carries lower financial leverage with a 0.11x debt-to-equity ratio, signaling a more conservative balance sheet compared to IONS's 5.35x. On the Piotroski fundamental quality scale (0–9), ALNY scores 6/9 vs IONS's 3/9, reflecting solid financial health.

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
ROE (TTM)Return on equity-168.4%+4.4%-6.1%+98.3%-58.6%
ROA (TTM)Return on assets-57.3%+3.4%-45.8%+11.8%-10.1%
ROICReturn on invested capital-86.5%+7.4%-89.4%+33.4%-12.8%
ROCEReturn on capital employed-66.8%+8.1%-46.4%+15.3%-14.1%
Piotroski ScoreFundamental quality 0–945463
Debt / EquityFinancial leverage1.04x0.11x1.62x5.35x
Net DebtTotal debt minus cash$258M-$669M$842M-$379M$2.2B
Cash & Equiv.Liquid assets$510M$1.3B$434M$1.7B$372M
Total DebtShort + long-term debt$768M$643M$1.3B$1.3B$2.6B
Interest CoverageEBIT ÷ Interest expense-14.23x16.96x-14.49x2.02x-3.64x
ALNY leads this category, winning 5 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

INSM leads this category, winning 4 of 6 comparable metrics.

A $10,000 investment in INSM five years ago would be worth $32,168 today (with dividends reinvested), compared to $2,281 for RARE. Over the past 12 months, IONS leads with a +129.9% total return vs RARE's -21.8%. The 3-year compound annual growth rate (CAGR) favors INSM at 77.0% vs RARE's -17.8% — a key indicator of consistent wealth creation.

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
YTD ReturnYear-to-date-40.8%-9.0%+10.7%-26.1%-4.6%
1-Year ReturnPast 12 months+53.5%-8.8%-21.8%+7.0%+129.9%
3-Year ReturnCumulative with dividends+454.5%-43.6%-44.5%+40.9%+116.1%
5-Year ReturnCumulative with dividends+221.7%-30.4%-77.2%+125.4%+108.0%
10-Year ReturnCumulative with dividends+793.5%-35.6%-59.4%+411.9%+121.1%
CAGR (3Y)Annualised 3-year return+77.0%-17.4%-17.8%+12.1%+29.3%
INSM leads this category, winning 4 of 6 comparable metrics.

Risk & Volatility

Evenly matched — INSM and IONS each lead in 1 of 2 comparable metrics.

INSM is the less volatile stock with a 0.54 beta — it tends to amplify market swings less than RARE's 1.42 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. IONS currently trades 87.6% from its 52-week high vs INSM's 49.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
Beta (5Y)Sensitivity to S&P 5000.54x0.65x1.42x0.71x0.55x
52-Week HighHighest price in past year$212.75$66.28$42.37$495.55$86.74
52-Week LowLowest price in past year$63.81$50.76$18.29$245.96$31.66
% of 52W HighCurrent price vs 52-week peak+49.3%+81.7%+61.7%+59.7%+87.6%
RSI (14)Momentum oscillator 0–10041.948.766.643.858.8
Avg Volume (50D)Average daily shares traded2.3M1.8M1.8M1.1M2.0M
Evenly matched — INSM and IONS each lead in 1 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Analyst consensus: INSM as "Buy", BMRN as "Buy", RARE as "Buy", ALNY as "Buy", IONS as "Buy". Consensus price targets imply 107.2% upside for INSM (target: $217) vs 41.1% for IONS (target: $107).

MetricINSM logoINSMInsmed Incorporat…BMRN logoBMRNBioMarin Pharmace…RARE logoRAREUltragenyx Pharma…ALNY logoALNYAlnylam Pharmaceu…IONS logoIONSIonis Pharmaceuti…
Analyst RatingConsensus buy/hold/sellBuyBuyBuyBuyBuy
Price TargetConsensus 12-month target$217.11$89.64$51.50$445.67$107.27
# AnalystsCovering analysts3541335232
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises1
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap0.0%0.0%0.0%0.0%0.0%
Insufficient data to determine a leader in this category.
Key Takeaway

ALNY leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). BMRN leads in 1 (Valuation Metrics). 1 tied.

Best OverallAlnylam Pharmaceuticals, In… (ALNY)Leads 2 of 6 categories
Loading custom metrics...

INSM vs BMRN vs RARE vs ALNY vs IONS: Key Questions Answered

10 questions · data-driven answers · updated daily

01

Is INSM or BMRN or RARE or ALNY or IONS a better buy right now?

For growth investors, Insmed Incorporated (INSM) is the stronger pick with 66.

7% revenue growth year-over-year, versus 12. 9% for BioMarin Pharmaceutical Inc. (BMRN). BioMarin Pharmaceutical Inc. (BMRN) offers the better valuation at 30. 1x trailing P/E (12. 6x forward), making it the more compelling value choice. Analysts rate Insmed Incorporated (INSM) a "Buy" — based on 35 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which has the better valuation — INSM or BMRN or RARE or ALNY or IONS?

On trailing P/E, BioMarin Pharmaceutical Inc.

(BMRN) is the cheapest at 30. 1x versus Alnylam Pharmaceuticals, Inc. at 127. 0x. On forward P/E, BioMarin Pharmaceutical Inc. is actually cheaper at 12. 6x.

03

Which is the better long-term investment — INSM or BMRN or RARE or ALNY or IONS?

Over the past 5 years, Insmed Incorporated (INSM) delivered a total return of +221.

7%, compared to -77. 2% for Ultragenyx Pharmaceutical Inc. (RARE). Over 10 years, the gap is even starker: INSM returned +793. 5% versus RARE's -59. 4%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

04

Which is safer — INSM or BMRN or RARE or ALNY or IONS?

By beta (market sensitivity over 5 years), Insmed Incorporated (INSM) is the lower-risk stock at 0.

54β versus Ultragenyx Pharmaceutical Inc. 's 1. 42β — meaning RARE is approximately 163% more volatile than INSM relative to the S&P 500. On balance sheet safety, BioMarin Pharmaceutical Inc. (BMRN) carries a lower debt/equity ratio of 11% versus 5% for Ionis Pharmaceuticals, Inc. — giving it more financial flexibility in a downturn.

05

Which is growing faster — INSM or BMRN or RARE or ALNY or IONS?

By revenue growth (latest reported year), Insmed Incorporated (INSM) is pulling ahead at 66.

7% versus 12. 9% for BioMarin Pharmaceutical Inc. (BMRN). On earnings-per-share growth, the picture is similar: Alnylam Pharmaceuticals, Inc. grew EPS 206. 9% year-over-year, compared to -18. 6% for BioMarin Pharmaceutical Inc.. Over a 3-year CAGR, ALNY leads at 53. 0% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

06

Which has better profit margins — INSM or BMRN or RARE or ALNY or IONS?

BioMarin Pharmaceutical Inc.

(BMRN) is the more profitable company, earning 10. 8% net margin versus -210. 5% for Insmed Incorporated — meaning it keeps 10. 8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: BMRN leads at 16. 6% versus -194. 0% for INSM. At the gross margin level — before operating expenses — IONS leads at 98. 3%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

07

Is INSM or BMRN or RARE or ALNY or IONS more undervalued right now?

On forward earnings alone, BioMarin Pharmaceutical Inc.

(BMRN) trades at 12. 6x forward P/E versus 44. 2x for Alnylam Pharmaceuticals, Inc. — 31. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for INSM: 107. 2% to $217. 11.

08

Which pays a better dividend — INSM or BMRN or RARE or ALNY or IONS?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

09

Is INSM or BMRN or RARE or ALNY or IONS better for a retirement portfolio?

For long-horizon retirement investors, Insmed Incorporated (INSM) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.

54), +793. 5% 10Y return). Both have compounded well over 10 years (INSM: +793. 5%, RARE: -59. 4%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

10

What are the main differences between INSM and BMRN and RARE and ALNY and IONS?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: INSM is a mid-cap high-growth stock; BMRN is a mid-cap quality compounder stock; RARE is a small-cap high-growth stock; ALNY is a mid-cap high-growth stock; IONS is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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  • Sector: Healthcare
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