Seeking Alpha • Apr 02

Biotech Is Holding Steady In 2026

Summary The biotech sector, tracked by the iShares Biotechnology ETF (IBB), remained flat in early 2026, despite broader market declines and volatility. Recent high buyout premium M&A activity, including Biogen’s $5.6B Apellis acquisition, fueled sector outperformance and an uptick in investor enthusiasm. Rotation out of the Magnificent Seven and into value sectors provided marginal support for biotech’s relative strength in 1Q2026. Energy, Consumer Defensive, and Utilities led S&P 500 sector gains, but biotech outperformed the broader indexes in Q1. An assessment of the biotech sector through the first quarter of 2026 follows in the paragraphs below. Read the full article on Seeking Alpha

Seeking Alpha • Mar 02

Invest In A New Biotech Bull Market With XBI And IBB

Summary Biotech stocks are oversold. This near-term bottom might be the start of a long-term bull run. IBB and XBI offer different advantages. IBB can benefit from the flight to safety trade. XBI provides more leverage to the biotech turnaround trade. Falling interest rates, weak GDP growth, low inflation, and Fed rate cuts mean the macro environment is ripe for biotech. Firms going bust & the lack of IPOs have made the average biotech stronger. This should lead to a higher percentage of positive phase 2 & phase 3 readouts. M&A activity will likely increase due to big pharma's patent cliff and cash hoard, driving small cap biotech valuations higher. Read the full article on Seeking Alpha

Seeking Alpha • Dec 10

iShares Biotechnology ETF: Playing Defense

Summary The biotech sector is very defensive and non-cyclical due to the necessity of medications and healthcare treatment being largely independent of economic growth and market risk sentiment. Money is returning to the biotech sector as displayed by increased M&A activity and financing following the pandemic-driven bubble in the sector. Biotech is a blooming area of innovation and US productivity and is expected to grow at a 14% CAGR over the next decade. IBB presents an ideal mix between value investing and growth investing. Any pullbacks in IBB should be bought for long-term equity appreciation. Read the full article on Seeking Alpha

Seeking Alpha • Oct 14

IBB: A Near-20x P/E Is Historically Pricey, Technical Trends Neutral

Summary I reiterate a hold rating on IBB due to its stretched valuation at nearly 20x earnings and mixed technical situation. Despite a 7% YTD gain, IBB has underperformed the S&P 500, which is up 21%, and shows negative alpha. Key support and resistance levels to watch are $138-$141 and $150, respectively, with a potential bullish move to $160. IBB's portfolio is concentrated in top stocks like Gilead, Amgen, Vertex, and Regeneron, making their earnings reports crucial. Read the full article on Seeking Alpha

Seeking Alpha • Jul 28

iShares Biotechnology ETF: Significant Upside Potential As Sector Gains Momentum

Summary Biotechnology companies experienced an optimistic bullish cycle in 2020-2021, leading to outperformance of the Biotech index. But the cycle of interest rate increases taking place since 2022 has caused several Biotech companies to observe cash flow issues. Advances in AI, machine learning, and generative AI are likely to accelerate drug discovery processes and optimize operations in the biotech and pharma sectors, leading to growth opportunities. Recent data on consumer price index suggests inflation trending down, supporting growth in the biotech sector in the second half of 2024. Read the full article on Seeking Alpha

Seeking Alpha • Jul 09

Biotech Stocks 2024 Second Half Outlook - Buy Biotechs

Summary Biotech indexes lagged broader market indexes in the first half of 2024, and trade at the same level as in early 2022. Biotech valuations are closely tied to the Fed's interest rate policy and are highly correlated to the 10-year yield. Inflation is likely to trend lower, and, along with rising unemployment, should persuade the Fed to cut rates this year in September. An attractive opportunity for biotechs at the turn of an interest rate cycle that augurs well for above market returns over 2024 and beyond. Read the full article on Seeking Alpha

Seeking Alpha • Mar 26

IBB: Let It Rest

Summary The iShares Biotechnology ETF has underperformed the broader market and remains in the range set last year. Heavily weighted top 10 stocks have flat revenues are are no longer growth stocks. Further upside seems limited, and a long sideways consolidation could develop. Read the full article on Seeking Alpha

Seeking Alpha • Sep 20

IBB ETF: On Sale And Rich Option Premium To Boot

Summary IBB ETF has rarely been this oversold. Volume, AUM growth and reducing short interest all point to higher prices in the IBB fund. We recommend the sale of the at the money January 2024 puts which trade with a 28%+ IV. Intro If we look at a long-term chart of iShares Biotechnology ETF (IBB), we can see no technical damage is evident as shares of the fund continue to make higher highs and higher lows. Furthermore, as we can see from the monthly MACD indicator, which is a solid read on both trend and momentum in IBB, we see that shares have rarely been as oversold from a long-term basis as we have at present. Suffice it to say, given the sustained pattern of higher highs and higher lows in IBB up to this point, that multi-year trend-line depicted below should continue to stand firm. IBB Long Term Technical Chart (Stockcharts.com) If we go to a more near-term chart of IBB, we see further evidence of a near-term bottom here. As we can see below, shares have been trading in roughly a $30 range for the best part of eight months now. However, buying volume has been on the rise meaningfully since shares bottomed in May of this year. This ties in with the more bullish trends we have seen in IBB´s assets under management in recent weeks. In fact, the assets under management ("AUM") increase of over 3% over the past month alone points to a rally in the fund before long. Furthermore, although short interest comes in at 10.89%, the number of shares sold short continues to come down. In the last short-interest report, the number of shares sold short dropped by almost 20%. The current number of shares sold short comes in at 6.97 million shares, which again is a far more encouraging number compared to previous months. IBB Daily Technical Chart (Stockcharts.com) Volatility If we go to an implied volatility chart, we see that IBB's implied volatility (30.4%) is well above its 12-month average and is trading well above historical volatility (23.3%). ETFs trading with an implied volatility of approximately 30% may turn off traditional ETF investors who do not want to suffer unwanted drawdowns. When we take ETFs as a whole, we see that their average implied volatility comes in at approximately the 20% mark. This demonstrates the perceived risk that a long investment in IBB may have over its ETF counterparts. How, though, can one use IBB's elevated implied volatility to both justify long exposure but also take risk off the table? What we would recommend would be the sale, for example, of the January´2024 $120 put option which presently is priced at about $1300 per put. This immediately would bring the investors' cost-basis down to the $107 level for 100 shares in IBB, which is well over 11% below IBB´s prevailing share price and also very close to underside support. Another question is why we would recommend going out well over a year with the sale of those puts. Well, as well as the fact that the position does not need to be micro-managed (which suits long-term investors), long-term options (liquidity allowing) have higher vega (especially if one selects the at-the-money options which we have - $120 strike) over their short-term counterparts. This means that any decline in volatility (which will indeed happen as volatility is mean-reverting) will see the position respond more favorably when the eventual contraction occurs. Furthermore, longer-term options have lower gamma (how quickly delta changes), which again means much less volatility over a short-term option.

Seeking Alpha • Jul 19

IBB: Biotechnology Offers A Compelling Opportunity As It Builds Up Momentum

The Nasdaq Biotechnology ETF is a long-term outperformer but in the last years it lagged it peers. In the last weeks, this industry showed relative strength to the market and a comeback is probable. This assumption is supported by a cheap valuation and bullish price action. Investment Thesis The biotech sector is often considered to be one of the riskiest sectors of all, which is why many investors consistently avoid this sector. Indeed, single investments especially in the small/micro-cap sector are often highly speculative, but the opportunities of the sector should not be underestimated. As technology advances, the methods of disease are also becoming better and more effective. The iShares Nasdaq Biotechnology ETF (IBB) offers an excellent opportunity to participate in the chances of the sector even as a more conservative investor through broad diversification. The correction of recent months has not left this sector unscathed, although most companies have hardly been affected by the crises. This industry has a historically low valuation and, also given some technical indicators, offers an attractive entry point at the current level. Sector Overview When it comes to future topics of the next couple of years and decades, the term biotechnology usually comes up quite quickly. Companies like BioNTech (BNTX) and Moderna (MRNA) have recently shown what is possible in this field with vaccines based on mRNA technology developed in record time. Yet this trend is still in its infancy. However, not only mRNA technology still holds enormous potential, but also several other innovations such as gene editing, gene sequencing, biomanufacturing or bio-printing. The problem is that the development and application of these methods are extremely costly and successes are therefore very difficult to estimate in terms of time. After the preclinical stage, new active substances must go through three phases before they can be submitted for approval. This process alone takes many years and at no time is there a guarantee of success. If a product fails in the late phases 2/3, millions or even billions have already been spent on research & development, which often causes massive financial difficulties for smaller companies in particular. The risks in this sector should not be underestimated, but on the other hand, it also offers high return opportunities. For many investors, however, the risk/return profile is not so attractive, which is why a broadly diversified ETF is a good choice. Here, diversification ensures that the risk of individual companies with research failures is minimized and that investors benefit from the long-term growth of the sector. Data by YCharts Over 20 years, the ETF has significantly outperformed the S&P 500 (SPY) by almost 100 percentage points. In the meantime, the outperformance was significantly higher when, for example, there was a real hype on biotech stocks in the period of 2010-2015 which led to a bubble-like development in the middle of 2015. This is the reason the index ran volatile sideways until 2020. This movement was followed by a breakout attempt, which abruptly stopped by a general pullback from growth and risk stocks in the last couple of months. Data by YCharts In recent weeks, however, Nasdaq Biotechnology ETF has been able to rebuild relative strength against the S&P 500 and rally much stronger. The question, of course, is whether this relative strength will continue going forward, which of course cannot be said with certainty. However, there is some data to suggest that Nasdaq Biotechnology ETF is not a poor choice as an investment. Cheap Valuation The healthcare sector is traditionally considered to be more defensive, but with somewhat weaker growth than the S&P 500. For this reason, the industry is typically valued the same or slightly lower than the benchmark index. Biotechnology as part of the healthcare sector has higher risk discounts, but also higher growth, which made this industry traded for many years even above the sector valuation and the overall market. This can be well observed in the historical development of the expected P/E ratios. Yardeni Research, Illustration by author Since the peak in 2014, the P/E ratio has been well below the benchmarks. In 2020, the expected P/E ratio fell below 10 for the first time, which was lower than the low point of the financial crisis. Since then, there has been a slight recovery, but the sector continues to trade well below its historical average of 16.5 with a P/E ratio of 12. However, that alone is only part of the valuation. For a better overview, I look at the metrics of the ETF's largest ten holdings, which together account for 50% of the total portfolio: Ticker Weight Vertex (VRTX) 7,24% Gilead (GILD) 7,13% Amgen (AMGN) 7,13% Regeneron (REGN) 6,32% Moderna (MRNA) 5,85% IQVIA (IQV) 3,75% BioNTech (BNTX) 3,17% Seagen* (SGEN) 3,12% Biogen (BIIB) 3,09% Illumina (ILMN) 2,98% Mettler-Toledo (MTD) 2,64% *Seagen price action is strongly affected by rumours of a potential takeover from Merck (MRK) which is why it is not considered in the following. Source: iShares.com Valuation Market cap. EV/S TTM EV/S FWD P/E TTM P/E FWD PEG FWD P/FCF FWD Vertex 75.27 8.54 7.91 21.7 20.7 0.61 17.95 Gilead 78.82 2.87 3.21 8.57 9.55 neg. 8.06 Amgen 132.74 6.2 6.22 14.07 14.23 2.31 13.37 Regeneron 66.97 3.99 4.72 8.14 14.41 neg. 9.38 Moderna 70.1 2.29 2.34 5.18 6.35 neg. 8.84 IQVIA 41.52 3.78 3.62 23.53 21.62 1.39 15.39 BioNTech 41.34 1.34 2.04 3.06 4.66 neg. 2.43 Biogen 32.04 3.22 3.55 12.53 14.17 neg. 11.39 Illumina 30.95 6.91 6.18 38.33 47.61 6.74 30.27 Mettler-Toledo 27.70 7.73 7.48 34.68 31.7 1.68 30.08 Average 59.74 4.68 4.73 16.9 18.5 - 14.72 Source: Seeking Alpha, Author's calculations With an average market capitalization of just under $60 billion, large caps are dominating, which provides a certain safety buffer. Also, all companies are profitable without exception, which means that various products have already been approved and the future of the companies is not directly dependent on future research results. However, one major problem stands out: P/E ratios are declining while PEGs are mostly negative. The earnings development of the large biotech giants does not seem to be in such good shape at the moment, which means that a certain degree of caution is warranted. This also explains the other rather low ratios. I consider an average price/free cash flow ratio to be a fair number, as well as a P/E ratio of 17. Amgen, Gilead and Biogen in particular are in a kind of transition phase, where expiring blockbuster products have to be compensated for by new active ingredients. Of course, this does not always succeed seamlessly, due to research setbacks, postponements or simply a weak pipeline. As a result, operational development sometimes comes to a standstill, which leads to great uncertainty among investors. These companies can be expected to recover thanks to their pipelines and continue to grow. In case of doubt, the large corporations will make use of acquisitions of small promising companies to strengthen their pipelines and gain access to novel treatments. These takeover waves are often viewed with scepticism by investors due to high premiums, but they usually lead to substantial increases in value in the medium term. Examples include AbbVie (ABBV) and Bristol Myers Squibb (BMY). Recently, rumours also intensified that Merck would be interested in Seagen. Such developments should make the operating situation of the large companies look better again in the medium term. But there is one category where the companies can still shine, despite stagnating profits: profitability.

Seeking Alpha • Jun 21

IBB: M&As Are Back

Biotech stocks have had a terrible year so far. Patent expirations will force biopharma giants to look towards smaller companies. Pfizer and Vertex are probably going to be the biggest deal makers. IBB is the best way to play a resumption of M&A activity in biotech sector. I believe that IBB is a buy.

Seeking Alpha • Jun 09

XBI Or IBB: How To Play The Oversold Biotech Most Efficiently

Biotechnology sector stocks seem to be in the oversold zone, as indicated by their momentum and valuations. I compared XBI (small-cap biotech ETF) and IBB (all-cap biotech ETF) to select the most promising one. IBB seems to be much more expensive than XBI based on the price-to-earnings and price-to-book multiples. When the markets return to RISK-ON mode, I think XBI should grow much more confidently than its closest liquid analog IBB.

Seeking Alpha • May 09

IBB: Lows After Highs Highlight Failing Growth Narratives And Overvaluation In Biotech Sector

Biotech stocks had enjoyed strong hype and trajectories in the recent past, especially during the pandemic years. This is beginning to unravel. ETFs covering this sector have a massive preponderance of U.S. stocks, historically the most overvalued market in the world. As growth stories crumble, so do the stock prices. Overall, the sector isn't very attractive to invest into at the present. After the floor on valuations, however, there may be a case for investment. Predicting a timeline, however, cannot be done in good faith.

Seeking Alpha • Apr 18

IBB: Healthcare Dashboard For April

Pharmaceuticals and biotechnology still are attractive regarding value and quality. Other subsectors are overvalued by 15% to 42% relative to 11-year averages. Fast facts on IBB. 10 healthcare stocks cheaper than their peers in April.

Seeking Alpha • Jan 28

XBI And IBB: You May Keep Laughing While We Keep Buying This March 2020-Like Opportunity

Over the past month, we've been particularly bullish on biotech, and this has been anything but a good month for biotech stocks. While "sitting" on "nice" losses on our biotech exposure, we're also experiencing the best start to a year (from an outperformance perspective) we've ever had./. How can it be? How can we perform lousy on biotech and superbly overall at the same time? We explain it fully by presenting some of our main investing principles/concepts. Do we use magics, tricks, or own/cast a special spell? No, we don't. We simply adhere to portfolio and risk management guidelines, combined with strict rules and restrictions. And just to make it clear: We keep buying biotech. You can laugh at us now, but let's see who laughs last in a couple of years, down the investment-horizon road.

Seeking Alpha • Jan 17

Biotech Investing: Large Trading Volumes Suggest Better Days Are Ahead

2021 has been a real tough year for biotech investors, and the start of 2022 doesn't bring a sign of relief yet. Nonetheless, if history is of any guide, large trading volumes over the past month are an indication that better days might be waiting ahead. Under the current environment, we can't rule out an additional short-term pain, however we believe this is a 'promo' to a longer-term gain. Risk management (biotech is a risky/volatile place) and portfolio management (allocation that takes into consideration both the risk and the overall construction of the portfolio) are key.

Seeking Alpha • Dec 06

IBB And XBI: 4 Reasons To Buy Biotech Stocks Ahead Of 2022

Although the Healthcare sector is having a positive year in absolute terms, that isn't the case in relative terms. Biotech stocks are having a difficult year, in spite of many of those trading at dirt-cheap valuations that don't even reflect the cash they have in-hand. It's very likely that M&A activity will start accelerating soon, with big pharma players needing and wishing to boost what is otherwise relatively mediocre growth. If history is any indication, there are very good reasons to believe that 2022 would be a positive year for biotechs.

Seeking Alpha • Oct 15

IBB: Healthcare Dashboard For October

A dashboard with metrics in healthcare industries. Value and quality scores, and their evolution since last month. Focus on IBB. A list of cheap stocks.

Seeking Alpha • Sep 21

IBB: Risks And Hedging

My earlier article on the iShares Biotechnology ETF (IBB) analyzed its exposure to the leading biotech and pharmaceutical companies, its diversification, and its innovation. Thanks to these factors, IBB has delivered excellent returns in the past. But the current market valuation is at a historical high and the fund has suffered large volatility risks. The combination of high volatility and high valuation calls for hedging ideas, and this article describes such an idea after analyzing the fund’s fundamentals.

Seeking Alpha • Jun 28

IBB: Growth And Innovation

We are long-term bullish on the biotech and pharmaceutical sector. The iShares Biotechnology ETF offers a great choice for exposure to the leading biotech and pharmaceutical companies with low cost, diversification, tradability, and liquidity. This article performs a comparative analysis of IBB against its closest competitor and the overall market in terms of growth, inflation, volatility to further examine its pros and cons.

Snowflake Score
Valuation	1/6
Future Growth	0/6
Past Performance	2/6
Financial Health	5/6
Dividends	0/6

Historical stock prices
Current Share Price	US$187.36
52 Week High	US$188.69
52 Week Low	US$125.70
Beta	0.72
1 Month Change	8.82%
3 Month Change	15.75%
1 Year Change	48.15%
3 Year Change	47.57%
5 Year Change	13.73%
Change since IPO	456.24%

	IBB	US Capital Markets	US Market
7D	7.9%	-5.2%	-2.5%
1Y	48.1%	0.7%	19.0%

IBB volatility
IBB Average Weekly Movement	3.3%
Capital Markets Industry Average Movement	3.8%
Market Average Movement	7.2%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	3.1%

IBB fundamental statistics
Market cap	US$8.90b
Earnings (TTM)	US$1.70b
Revenue (TTM)	US$41.56m

IBB income statement (TTM)
Revenue	US$41.56m
Cost of Revenue	US$0
Gross Profit	US$41.56m
Other Expenses	-US$1.66b
Earnings	US$1.70b

Earnings per share (EPS)	35.87
Gross Margin	100.00%
Net Profit Margin	4,098.77%
Debt/Equity Ratio	9.3%

Data	Last Updated (UTC time)
Company Analysis	2026/06/28 12:55
End of Day Share Price	2026/06/26 00:00
Earnings	2026/03/31
Annual Earnings	2026/03/31

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

iShares Trust - iShares Biotechnology ETF (IBB) Stock Overview

iShares Trust - iShares Biotechnology ETF Competitors

Price History & Performance

Recent News & Updates

Biotech Is Holding Steady In 2026

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on March 20, 2026

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on December 19, 2025

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on September 19, 2025

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on March 21, 2025

Invest In A New Biotech Bull Market With XBI And IBB

Recent updates

Biotech Is Holding Steady In 2026

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on March 20, 2026

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on December 19, 2025

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on September 19, 2025

iShares Trust - iShares Biotechnology ETF announces Quarterly dividend, payable on March 21, 2025

Invest In A New Biotech Bull Market With XBI And IBB

iShares Biotechnology ETF: Playing Defense

IBB: A Near-20x P/E Is Historically Pricey, Technical Trends Neutral

iShares Biotechnology ETF: Significant Upside Potential As Sector Gains Momentum

Biotech Stocks 2024 Second Half Outlook - Buy Biotechs

IBB: Let It Rest

IBB ETF: On Sale And Rich Option Premium To Boot

IBB: Biotechnology Offers A Compelling Opportunity As It Builds Up Momentum

IBB: M&As Are Back

XBI Or IBB: How To Play The Oversold Biotech Most Efficiently

IBB: Lows After Highs Highlight Failing Growth Narratives And Overvaluation In Biotech Sector

IBB: Healthcare Dashboard For April

XBI And IBB: You May Keep Laughing While We Keep Buying This March 2020-Like Opportunity

Biotech Investing: Large Trading Volumes Suggest Better Days Are Ahead

IBB And XBI: 4 Reasons To Buy Biotech Stocks Ahead Of 2022

IBB: Healthcare Dashboard For October

IBB: Risks And Hedging

IBB: Growth And Innovation

Shareholder Returns

Price Volatility

About the Company

iShares Trust - iShares Biotechnology ETF Fundamentals Summary

Earnings & Revenue

Dividends

Company Analysis and Financial Data Status

Data Sources

Analysis Model and Snowflake

Industry and Sector Metrics

Analyst Sources