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U.S. Biotech Industry Analysis

UpdatedJan 04, 2026
DataAggregated Company Financials
Companies544
  • 7D-2.0%
  • 3M13.6%
  • 1Y23.0%
  • YTD0.0%

Over the last 7 days, the Biotech industry has dropped 2.0%, driven by a pullback from Gilead Sciences of 2.5%. This takes the industry's 12 month performance to a gain of 23%. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

Has the U.S. Biotech Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 04 Jan 2026US$1.2tUS$163.5b-US$15,345,571,210.7721.1x-79x7.4x
Tue, 02 Dec 2025US$1.2tUS$163.6b-US$16,204,397,732.2218.7x-77.1x7.6x
Thu, 30 Oct 2025US$1.2tUS$164.0b-US$17,953,607,163.7417.4x-65.9x7.2x
Sat, 27 Sep 2025US$1.1tUS$163.5b-US$18,316,421,423.9516.3x-58.1x6.5x
Mon, 25 Aug 2025US$1.1tUS$163.6b-US$18,584,724,159.6315.1x-57.8x6.6x
Wed, 23 Jul 2025US$961.0bUS$155.2b-US$23,253,955,254.0116.5x-41.3x6.2x
Fri, 20 Jun 2025US$929.9bUS$155.9b-US$23,930,083,012.0216.9x-38.9x6x
Sun, 18 May 2025US$895.3bUS$155.9b-US$24,392,718,921.6016.3x-36.7x5.7x
Tue, 15 Apr 2025US$740.5bUS$119.2b-US$36,459,397,381.9019.9x-20.3x6.2x
Thu, 13 Mar 2025US$834.6bUS$118.7b-US$37,659,545,163.6818.4x-22.2x7x
Sat, 08 Feb 2025US$857.1bUS$117.3b-US$30,948,989,158.0417.2x-27.7x7.3x
Mon, 06 Jan 2025US$980.2bUS$149.6b-US$26,354,792,434.1217x-37.2x6.6x
Wed, 04 Dec 2024US$1.0tUS$149.9b-US$26,584,927,055.4016.5x-39.1x6.9x
Fri, 01 Nov 2024US$1.1tUS$147.3b-US$30,454,139,694.2717.1x-34.7x7.2x
Sun, 29 Sep 2024US$893.6bUS$113.2b-US$36,006,680,210.7121.3x-24.8x7.9x
Tue, 27 Aug 2024US$909.0bUS$113.1b-US$35,851,266,005.4623.3x-25.4x8x
Thu, 25 Jul 2024US$1.2tUS$164.5b-US$28,090,976,401.9328.2x-43x7.3x
Sat, 22 Jun 2024US$1.1tUS$164.4b-US$27,943,646,272.0028.1x-41.1x7x
Mon, 20 May 2024US$1.1tUS$164.6b-US$26,835,738,666.6423.9x-42.8x7x
Wed, 17 Apr 2024US$1.1tUS$164.2b-US$23,402,696,044.0520.5x-46.3x6.6x
Fri, 15 Mar 2024US$1.2tUS$167.4b-US$22,100,849,384.5416.3x-54.1x7.1x
Sun, 11 Feb 2024US$1.2tUS$169.3b-US$26,263,046,791.8719.8x-44.2x6.9x
Tue, 09 Jan 2024US$1.4tUS$204.8b-US$22,499,844,981.0020.8x-63.1x6.9x
Thu, 07 Dec 2023US$1.3tUS$204.6b-US$22,056,080,007.0019.4x-58.1x6.3x
Sat, 04 Nov 2023US$1.2tUS$206.7b-US$20,531,174,316.0018.8x-60.4x6x
Mon, 02 Oct 2023US$1.3tUS$207.4b-US$13,122,605,528.0017.1x-95.8x6.1x
Wed, 30 Aug 2023US$1.3tUS$207.6b-US$12,432,896,963.0017.8x-103.8x6.2x
Fri, 28 Jul 2023US$1.1tUS$186.8b-US$16,232,166,533.0014.3x-69.6x6x
Sun, 25 Jun 2023US$1.1tUS$186.2b-US$16,162,116,001.0013.6x-70.3x6.1x
Tue, 23 May 2023US$1.2tUS$186.0b-US$15,902,975,009.0013.3x-72.9x6.2x
Thu, 20 Apr 2023US$1.2tUS$198.4b-US$3,264,741,817.0013.6x-362.5x6x
Sat, 18 Mar 2023US$1.1tUS$199.2b-US$3,900,694,523.0013.2x-286.4x5.6x
Mon, 13 Feb 2023US$1.2tUS$202.7b-US$211,129,546.0016.4x-5476.8x5.7x
Wed, 11 Jan 2023US$1.2tUS$203.5bUS$1.7b14.1x695.4x5.7x
Price to Earnings Ratio

695.4x


Total Market Cap: US$1.2tTotal Earnings: US$1.7bTotal Revenue: US$203.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Biotech Industry Price to Earnings3Y Average -22.1x202420252026
Current Industry PE
  • Investors are optimistic on the American Biotechs industry, and appear confident in long term growth rates.
  • The 3-year average PS ratio of 6.6x is lower than the industry's current PS ratio of 7.4x.
Past Earnings Growth
  • Total earnings for the Biotechs industry have declined over the last three years, with the industry now making a loss overall.
  • Revenues have also declined 7.0% per year, which is driving profits down.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market-0.99%
Healthcare-0.73%
Biotech-2.00%
Biotech-2.00%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BNTX BioNTechUS$96.692.3%
+US$521.8m		-16.5%PS6.3x
BBIO BridgeBio PharmaUS$78.243.2%
+US$469.2m		178.2%PS42.6x
PRAX Praxis Precision MedicinesUS$286.406.5%
+US$436.4m		253.9%PS959.7x
ASND Ascendis PharmaUS$213.292.1%
+US$274.1m		51.9%PS17.3x
INCY IncyteUS$101.421.3%
+US$257.2m		45.7%PE16.8x

Latest News

REGN
US$776.31
Regeneron Pharmaceuticals
7D
-1.1%
1Y
8.1%
IRWD
US$4.27
Ironwood Pharmaceuticals
7D
33.4%
1Y
-5.3%
SLS
US$4.35
SELLAS Life Sciences Group
7D
51.6%
1Y
302.8%
RARE
US$23.60
Ultragenyx Pharmaceutical
7D
-31.0%
1Y
-43.1%
PRAX
US$286.40
Praxis Precision Medicines
7D
6.5%
1Y
253.9%
ASND
US$213.29
Ascendis Pharma
7D
2.1%
1Y
51.9%

ASND: Ongoing Demand And Safety Outlook Will Support Bullish Repricing

Analysts have modestly raised their price target for Ascendis Pharma, reflecting an updated fair value of approximately $319 from about $301, as they cite ongoing confidence in Yorvipath uptake and limited concern that a recently reported patient death is drug related. Analyst Commentary Bullish analysts emphasize that the recent stock pullback appears disconnected from fundamentals, highlighting that the reported patient death in a complex oncology setting is unlikely to be causally linked to Yorvipath.
INCY
US$101.42
Incyte
7D
1.3%
1Y
45.7%

INCY: Future Returns Will Hinge On Executing High-Expectation Pipeline Under New Leadership

Analysts have nudged their price target on Incyte slightly higher, to $82 from $81. This reflects a modestly improved fair value estimate even as they caution that the recent share rally has largely priced in high expectations for key pipeline assets and new management.
BNTX
US$96.69
BioNTech
7D
2.3%
1Y
-16.5%

BNTX Covid-19 Cash Flows Will Support Stronger Long-Term Earnings Power

Analysts have nudged their fair value estimate for BioNTech higher to about $174 from roughly $170, citing resilient COVID-19 vaccine revenues, stable pricing dynamics, and improved operating efficiency reflected in recent price target adjustments across the Street. Analyst Commentary Bullish analysts highlight that BioNTech's valuation is increasingly underpinned by evidence of durable COVID-19 vaccine cash flows, with incremental price target raises signaling confidence that earnings power can be sustained beyond near term pandemic dynamics.
BBIO
US$78.24
BridgeBio Pharma
7D
3.2%
1Y
178.2%

BBIO: Late-Stage Pipeline Progress Will Drive Bullish Repricing Ahead

BridgeBio Pharma's analyst price target has been raised meaningfully, with fair value estimates climbing from approximately $88 to $110 as analysts factor in stronger visibility on late stage programs like Attruby, infigratinib, encaleret, and BBP-418. These programs collectively de risk the pipeline and support higher long term profitability.
ABBV
US$229.31
AbbVie
7D
-0.3%
1Y
26.5%

ABBV: Future Returns Will Hinge On Post-Humira Immunology And Pipeline Execution

Analysts have nudged our AbbVie fair value estimate slightly higher, from $243.55 to $244.68. This reflects modestly stronger long term revenue growth expectations for key immunology franchises and pipeline assets, partially offset by slightly lower margin assumptions and a broadly constructive but mixed backdrop of recent price target revisions and rating changes across the Street.
GILD
US$121.60
Gilead Sciences
7D
-2.5%
1Y
33.0%

GILD: Extended HIV Exclusivity Will Support Stronger Long-Term Earnings Power

Analysts have raised their fair value estimate for Gilead Sciences to $153 from $140, citing extended Biktarvy exclusivity, a stronger long term HIV growth outlook supported by Yeztugo and PrEP, and increasing conviction in oncology and broader large cap biopharma innovation potential. Analyst Commentary Bullish analysts continue to highlight Gilead as a core large cap biopharma holding, pointing to a healthier long term growth profile in HIV and a strengthening contribution from oncology.
VRTX
US$452.13
Vertex Pharmaceuticals
7D
-2.3%
1Y
11.1%

VRTX: Cystic Fibrosis And Gene Editing Advances Will Drive Upside Potential

Narrative Update The analyst price target for Vertex Pharmaceuticals has been modestly reduced to about $604 from roughly $616 as analysts factor in a slightly higher discount rate and marginally slower revenue growth, partially offset by improved profitability and a lower assumed future P/E multiple. Analyst Commentary Bullish analysts remain broadly constructive on Vertex Pharmaceuticals, emphasizing durable execution in cystic fibrosis, a deep late stage pipeline, and multiple emerging revenue drivers that, in their view, support premium valuation multiples despite modest target tweaks.
HALO
US$70.31
Halozyme Therapeutics
7D
2.1%
1Y
47.3%

HALO: ENHANZE Expansion And Lower Part B Exposure Will Drive Upside

Analysts have nudged their fair value estimate for Halozyme Therapeutics slightly higher, lifting the price target to $92 from $91 as they factor in stronger than expected ENHANZE-driven growth, earlier than anticipated achievement of over $1B in 2026 EBITDA, and reduced perceived risk from Medicare Part B exposure and patent litigation. Analyst Commentary Bullish analysts highlight that Halozyme is executing ahead of prior long term expectations, with ENHANZE partnered products driving stronger than anticipated revenue and profitability trajectories.
KYMR
US$72.76
Kymera Therapeutics
7D
-10.5%
1Y
74.9%

KYMR: Upcoming Atopic Dermatitis Milestones Will Drive Significant Long Term Upside Potential

Kymera Therapeutics' fair value estimate has been raised from $77.59 to $114.00 as analysts lift price targets into the $60 to $80 range. They cite growing conviction in KT-621 ahead of key Phase 1b atopic dermatitis data and its potential for significant long term sales.
AMGN
US$327.64
Amgen
7D
-1.6%
1Y
25.4%

AMGN: Margin Expansion And Pipeline Progress Will Drive Long-Term Upside Potential

Analysts have nudged their fair value estimate for Amgen higher to approximately $425 from about $405, reflecting a more constructive view on the company as a defensive large cap biotech with improving margin potential and an innovation pipeline that, while still facing patent expiry and execution risks, is increasingly seen as capable of supporting long term earnings power. Analyst Commentary Recent Street research on Amgen highlights a balanced but gradually improving sentiment backdrop, with a growing cohort of bullish analysts positioning the company as a core large cap biotech holding.
EXEL
US$43.58
Exelixis
7D
-5.8%
1Y
28.3%

EXEL: Future Returns Will Depend On Oncology Pipeline Execution Risk

Exelixis' analyst price target has been revised modestly higher, with the Street now generally looking for shares to move into the mid to high $40s. This is driven by updated post Q3 models that factor in improving long term profitability, slightly faster revenue growth, and growing confidence in the commercial potential of zanzalintinib across multiple tumor types, even as some analysts trim colorectal cancer assumptions.