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U.S. Biotech Industry Analysis

UpdatedJul 28, 2026
DataAggregated Company Financials
Companies549
  • 7D0.09%
  • 3M7.1%
  • 1Y31.4%
  • YTD9.1%

The Biotech is pretty flat in the last 7 days, but Amgen has stood out, gaining 3.3%. The past year has been better, since the industry has gained 31% in that time. Earnings are forecast to grow by 25% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 29 Jul 2026US$1.4tUS$169.2b-US$11,770,609,315.8617x-117.4x8.2x
Fri, 26 Jun 2026US$1.4tUS$170.0b-US$12,074,809,756.0016.6x-112.1x8x
Sun, 24 May 2026US$1.3tUS$170.0b-US$12,290,710,594.6516.2x-105.1x7.6x
Tue, 21 Apr 2026US$1.3tUS$166.2b-US$11,955,091,151.1917.1x-112.7x8.1x
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
Price to Earnings Ratio

-124.1x


Total Market Cap: US$1.3tTotal Earnings: -US$10,152,777,050.00Total Revenue: US$210.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Biotech Industry Price to Earnings3Y Average -60.1x202420252026
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 7.0x is lower than the industry's current PS ratio of 8.2x.
Past Earnings Growth
  • The earnings for companies in the Biotechs industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 2.6% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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

US Market-0.74%
Healthcare2.18%
Biotech0.09%
Biotech0.09%
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
AMGN AmgenUS$393.107.3%
+US$14.5b		29.5%PE27.2x
ABBV AbbVieUS$263.202.8%
+US$12.5b		37.6%PE129.4x
GILD Gilead SciencesUS$134.323.1%
+US$5.0b		17.6%PE18.1x
INCY IncyteUS$129.9310.7%
+US$2.5b		67.9%PE16.1x
ALNY Alnylam PharmaceuticalsUS$288.416.3%
+US$2.3b		-12.7%PE71.6x

Latest News

ARWR
US$85.78
Arrowhead Pharmaceuticals
7D
15.1%
1Y
438.8%
INCY
US$129.93
Incyte
7D
10.7%
1Y
67.9%
ROIV
US$33.84
Roivant Sciences
7D
-3.2%
1Y
196.3%
MPLT
US$12.31
MapLight Therapeutics
7D
-67.1%
1Y
n/a
LEGN
US$19.04
Legend Biotech
7D
-19.1%
1Y
-53.3%
MRNA
US$55.81
Moderna
7D
-6.5%
1Y
70.9%
Narrative Update • Jul 27

MRNA: Flu Revenue Delays And Regulatory Timing Will Constrain Future Upside

Analysts have lifted their fair value estimate for Moderna stock from $22.00 to $25.00, reflecting updated assumptions around revenue growth, profitability, and future P/E multiples in light of a series of higher Street price targets and supportive commentary on the company's vaccine pipeline. Analyst Commentary Recent research coverage of Moderna shows a mix of optimism around the vaccine portfolio and caution around execution, timing of revenues, and valuation.
SMMT
US$12.55
Summit Therapeutics
7D
-14.2%
1Y
-53.1%
GILD
US$134.32
Gilead Sciences
7D
3.1%
1Y
17.6%
REGN
US$695.18
Regeneron Pharmaceuticals
7D
3.0%
1Y
24.6%
Seeking Alpha • Jul 25

Regeneron: I'm Not Concerned About The Declining ROIC And Operating Margins

Summary Regeneron Pharmaceuticals, Inc. remains a Buy, supported by robust revenue drivers Dupixent and Libtayo, despite recent share price volatility and underperformance versus the S&P. Dupixent’s expanding indications and sustained growth, along with Libtayo’s oncology momentum, underpin forward revenue expectations, even as Eylea faces biosimilar headwinds. Recent margin and ROIC declines are primarily due to accelerated Sanofi repayments and deferred tax asset accumulation, both expected to reverse, improving profitability from Q3 2026. REGN has a strong balance sheet, prudent capital allocation, and a deep pipeline that position REGN for a new growth phase, with operating margins and ROIC likely bottoming in 2026. Read the full article on Seeking Alpha
IBRX
US$6.97
ImmunityBio
7D
-13.7%
1Y
174.2%
Narrative Update • Jul 24

IBRX: FDA Review Timeline For Bladder Cancer Will Drive Future Upside

Analysts have reset their price target on ImmunityBio from $23 to $15. This reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
ABBV
US$263.20
AbbVie
7D
2.8%
1Y
37.6%
Narrative Update • Jul 24

ABBV: Future Returns Will Rely On Apogee Deal And Broader Pipeline Execution

AbbVie’s updated analyst price target has increased to $266.89 from $259.46 as analysts factor in recent Q2 preview research, higher modeled profit margins, and a slightly adjusted discount rate and future P/E outlook. Analyst Commentary Recent research commentary around AbbVie points to a broadly constructive tone ahead of Q2 results, with several firms revisiting their models, adjusting P/E assumptions, and updating margin and pipeline expectations.
INSM
US$104.13
Insmed
7D
-4.1%
1Y
-0.8%
NTRA
US$252.22
Natera
7D
-5.6%
1Y
85.7%
AMGN
US$393.10
Amgen
7D
7.3%
1Y
29.5%
New Narrative • Jul 19

A transitional big-pharma giant holding a speculative premium driven by obesity hype, masking severe revenue erosion.

The "Amgen 2027 Bull Case" relies on a classic top-line fallacy: assuming that macro obesity market growth and FDA's CNPV (Commissioner’s National Priority Voucher) tailwinds will automatically trigger a re-rating. Here is the cold, data-driven reality: 1.
ALNY
US$288.41
Alnylam Pharmaceuticals
7D
6.3%
1Y
-12.7%
VRTX
US$490.39
Vertex Pharmaceuticals
7D
1.7%
1Y
4.7%