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U.S. Biotech Industry Analysis

UpdatedApr 20, 2026
DataAggregated Company Financials
Companies549
  • 7D3.1%
  • 3M7.1%
  • 1Y44.7%
  • YTD8.0%

Over the last 7 days, the Biotech industry has risen 3.1%, and Revolution Medicines contributed the most with a gain of 9.0%. During this same period, the Alnylam Pharmaceuticals underperformed, falling 7.0%. This means that the industry has gained 45% over the past year. As for the next few years, earnings are expected to grow by 23% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026US$1.3tUS$166.2b-US$11,948,696,255.5817.1x-112.8x8.1x
Thu, 19 Mar 2026US$1.3tUS$169.1b-US$15,272,268,002.5916.2x-85.1x7.7x
Sat, 14 Feb 2026US$1.3tUS$169.0b-US$13,975,198,940.3122.2x-94.4x7.8x
Mon, 12 Jan 2026US$1.2tUS$163.5b-US$15,143,003,806.7021.1x-81.5x7.6x
Wed, 10 Dec 2025US$1.2tUS$163.6b-US$15,795,205,421.6919x-75.9x7.3x
Fri, 07 Nov 2025US$1.1tUS$163.0b-US$15,959,392,425.0816.2x-71.1x7x
Sun, 05 Oct 2025US$1.1tUS$163.5b-US$18,204,873,215.1716.7x-62.3x6.9x
Tue, 02 Sep 2025US$1.1tUS$163.5b-US$18,373,948,947.1115.4x-57.4x6.5x
Thu, 31 Jul 2025US$978.1bUS$155.2b-US$22,154,473,663.9415.9x-44.2x6.3x
Sat, 28 Jun 2025US$928.6bUS$156.0b-US$23,836,878,936.0917.2x-39x6x
Mon, 26 May 2025US$907.6bUS$155.9b-US$24,118,382,442.0315.6x-37.6x5.8x
Wed, 23 Apr 2025US$752.0bUS$119.2b-US$36,420,549,137.2319.6x-20.6x6.3x
Fri, 21 Mar 2025US$837.9bUS$118.6b-US$37,243,662,257.9120x-22.5x7.1x
Sun, 16 Feb 2025US$842.2bUS$116.6b-US$36,838,613,842.2117.6x-22.9x7.2x
Tue, 14 Jan 2025US$947.8bUS$149.4b-US$26,259,951,633.4017.1x-36.1x6.3x
Thu, 12 Dec 2024US$1.0tUS$150.0b-US$26,538,399,035.4817.5x-38.6x6.8x
Sat, 09 Nov 2024US$1.1tUS$149.6b-US$27,181,635,977.1716.5x-40.5x7.4x
Mon, 07 Oct 2024US$889.8bUS$113.1b-US$35,952,253,973.7722x-24.8x7.9x
Wed, 04 Sep 2024US$909.4bUS$113.1b-US$35,700,641,712.6623x-25.5x8x
Fri, 02 Aug 2024US$1.2tUS$165.2b-US$29,241,766,364.5030.6x-42x7.4x
Sun, 30 Jun 2024US$1.1tUS$164.4b-US$27,988,781,321.0728.5x-41x7x
Tue, 28 May 2024US$1.1tUS$164.6b-US$26,662,546,931.6227.2x-42.2x6.8x
Thu, 25 Apr 2024US$1.1tUS$164.1b-US$23,434,274,940.2420.4x-46.7x6.7x
Sat, 23 Mar 2024US$1.2tUS$164.3b-US$23,951,750,761.5021.3x-48.5x7.1x
Mon, 19 Feb 2024US$1.2tUS$169.1b-US$20,519,191,458.5815.7x-56.9x6.9x
Wed, 17 Jan 2024US$1.4tUS$204.7b-US$22,509,124,769.0018.9x-63.9x7x
Fri, 15 Dec 2023US$1.3tUS$204.8b-US$22,109,997,154.0019.2x-61.1x6.6x
Sun, 12 Nov 2023US$1.2tUS$204.5b-US$22,004,263,459.0018.5x-54.5x5.9x
Tue, 10 Oct 2023US$1.3tUS$207.4b-US$13,078,903,969.0017.1x-96.1x6.1x
Thu, 07 Sep 2023US$1.3tUS$207.5b-US$12,633,134,897.0016.9x-100.5x6.1x
Sat, 05 Aug 2023US$1.3tUS$210.2b-US$10,152,777,050.0015.6x-124.1x6x
Mon, 03 Jul 2023US$1.1tUS$186.2b-US$16,042,400,813.0013.7x-70x6x
Wed, 31 May 2023US$1.1tUS$185.9b-US$15,975,506,164.0011.3x-69.7x6x
Fri, 28 Apr 2023US$1.1tUS$198.5b-US$3,342,494,771.0013.1x-342.6x5.8x
Price to Earnings Ratio

-342.6x


Total Market Cap: US$1.1tTotal Earnings: -US$3,342,494,771.00Total Revenue: US$198.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Biotech Industry Price to Earnings3Y Average -59.4x202420252026
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 6.8x is lower than the industry's current PS ratio of 8.1x.
Past Earnings Growth
  • The earnings for companies in the Biotechs industry have deteriorated over the last three years.
  • Revenues have also declined 5.7% per year.
  • This means overall sales from these companies are declining and losses are subsequently expanding as well.

Industry Trends

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

US Market4.02%
Healthcare1.68%
Biotech3.08%
Biotech3.08%
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
SMMT Summit TherapeuticsUS$25.1225.4%
+US$3.9b		-0.4%PB29.6x
RVMD Revolution MedicinesUS$146.237.3%
+US$3.7b		300.0%PB18.9x
BNTX BioNTechUS$105.198.8%
+US$2.1b		3.3%PS7.9x
ERAS ErascaUS$21.7133.1%
+US$1.7b		1,650.8%PB20.8x
MRNA ModernaUS$54.597.7%
+US$1.6b		117.2%PS11.1x

Latest News

GILD
US$135.87
Gilead Sciences
7D
-2.3%
1Y
30.2%
ANAB
US$50.95
AnaptysBio
7D
-25.9%
1Y
147.1%
RVMD
US$146.23
Revolution Medicines
7D
7.3%
1Y
300.0%
KNSA
US$42.46
Kiniksa Pharmaceuticals International
7D
-10.2%
1Y
111.8%

KNSA: Future Upside Will Stem From Recurrent Pericarditis Leadership

Analysts have lifted their price target on Kiniksa Pharmaceuticals International by $5, citing Arcalyst revenue tracking in line with or ahead of prior estimates and supportive views on the company's position in recurrent pericarditis and broader inflammatory cardiovascular diseases. Analyst Commentary Bullish analysts are highlighting Kiniksa Pharmaceuticals International as a focused commercial biotech story, pointing to Arcalyst and its role in recurrent pericarditis as the key driver behind recent price target increases.
LEGN
US$25.07
Legend Biotech
7D
41.7%
1Y
-22.2%

LEGN: Future Returns Expected From Execution On Multiple Myeloma Opportunity

Analysts have trimmed Legend Biotech's average price targets by a few dollars to a range that includes $49 and $62, as they factor in updated Q4 data, expectations for upcoming CARTITUDE-5 and in vivo readouts, and ongoing debate around Carvykti's market share and long term sales potential. Analyst Commentary Bullish Takeaways Bullish analysts highlight a gap between Legend Biotech's share price and what they see as the underlying business fundamentals, which they view as supportive of higher long term value than the current market valuation implies.
ONC
US$318.07
BeOne Medicines
7D
4.1%
1Y
38.8%
SYRE
US$73.39
Spyre Therapeutics
7D
16.0%
1Y
440.8%
AGIO
US$27.07
Agios Pharmaceuticals
7D
-18.3%
1Y
-1.0%

AGIO: Sickle Cell Regulatory Uncertainty Will Continue To Restrain Enthusiasm

Analysts have raised their price target on Agios Pharmaceuticals by $3 to a new fair value estimate of $28, citing recent target increases from major firms and growing attention on upcoming regulatory and clinical catalysts. Analyst Commentary Recent Street research on Agios Pharmaceuticals reflects a mix of optimism around upcoming regulatory events and ongoing caution around execution risks, valuation and timing of potential catalysts.
ALNY
US$310.94
Alnylam Pharmaceuticals
7D
-6.6%
1Y
33.6%
EXEL
US$43.61
Exelixis
7D
-3.0%
1Y
22.5%

EXEL: Future Colorectal Cancer Decision And Competitive Data Will Shape Upside Potential

Exelixis' analyst price targets have adjusted in a tight range, with some firms trimming estimates by a few dollars to reflect heightened competitive pressure from Merck's HIF-2alpha data, while others nudged targets higher by $1 to $3 as they updated models and assumptions on the company. Analyst Commentary Recent commentary on Exelixis reflects a mix of cautious and constructive views, with modest price target adjustments rather than sweeping changes.
MRNA
US$54.59
Moderna
7D
7.7%
1Y
117.2%
ABBV
US$203.71
AbbVie
7D
-1.3%
1Y
19.7%
BNTX
US$105.19
BioNTech
7D
8.8%
1Y
3.3%
SMMT
US$25.12
Summit Therapeutics
7D
25.4%
1Y
-0.4%
INSM
US$142.82
Insmed
7D
-5.5%
1Y
105.5%
ERAS
US$21.71
Erasca
7D
33.1%
1Y
1,650.8%

Erasca Inc. (ERAS): The RAS Specialist – Scaling the Precision Oncology Peak in 2026.

Erasca Inc. (ERAS) is currently in the midst of a breakout year for its precision oncology platform, trading at $15.12 as of the March 4, 2026, market close.