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U.S. Biotech Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies540
  • 7D0.4%
  • 3M-0.4%
  • 1Y23.9%
  • YTD1.7%

The Biotech is pretty flat in the last 7 days, but Alnylam Pharmaceuticals has stood out, gaining 4.4%. The past year has been better, since the industry has gained 25% in that time. As for the next few years, earnings are expected to grow by 22% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026US$1.3tUS$166.1b-US$13,435,728,788.6415.6x-94.1x7.6x
Sun, 22 Feb 2026US$1.3tUS$168.1b-US$13,480,215,246.9022.1x-99.4x8x
Tue, 20 Jan 2026US$1.2tUS$163.5b-US$15,150,344,257.2519.7x-80.8x7.5x
Thu, 18 Dec 2025US$1.2tUS$163.7b-US$15,628,608,244.2618.9x-77.7x7.4x
Sat, 15 Nov 2025US$1.2tUS$163.8b-US$15,257,759,213.1317.4x-76.8x7.2x
Mon, 13 Oct 2025US$1.1tUS$163.4b-US$18,215,104,196.5216.6x-62.2x6.9x
Wed, 10 Sep 2025US$1.1tUS$163.6b-US$18,332,951,430.5415.3x-59.3x6.6x
Fri, 08 Aug 2025US$990.8bUS$162.1b-US$14,456,208,361.5015.6x-68.5x6.1x
Sun, 06 Jul 2025US$960.2bUS$155.8b-US$23,415,675,000.5617.3x-41x6.2x
Tue, 03 Jun 2025US$908.2bUS$155.9b-US$24,019,913,159.2215.5x-37.8x5.8x
Thu, 01 May 2025US$799.1bUS$119.3b-US$30,873,699,546.2220.7x-25.9x6.7x
Sat, 29 Mar 2025US$823.8bUS$118.6b-US$37,131,150,475.3024.4x-22.2x6.9x
Mon, 24 Feb 2025US$863.6bUS$117.3b-US$37,606,528,073.3717x-23x7.4x
Wed, 22 Jan 2025US$947.4bUS$149.5b-US$26,308,825,526.6517.5x-36x6.3x
Fri, 20 Dec 2024US$957.4bUS$149.9b-US$26,462,994,425.3915.5x-36.2x6.4x
Sun, 17 Nov 2024US$991.1bUS$150.0b-US$26,801,381,083.8817.2x-37x6.6x
Tue, 15 Oct 2024US$902.0bUS$113.1b-US$36,040,263,614.5420.6x-25x8x
Thu, 12 Sep 2024US$904.6bUS$113.1b-US$35,666,524,615.2322.3x-25.4x8x
Sat, 10 Aug 2024US$856.5bUS$112.6b-US$37,136,901,661.4121.6x-23.1x7.6x
Mon, 08 Jul 2024US$1.1tUS$164.5b-US$28,073,537,735.6427.9x-40.3x6.9x
Wed, 05 Jun 2024US$1.1tUS$164.6b-US$26,652,225,135.7727.8x-42.5x6.9x
Fri, 03 May 2024US$1.1tUS$163.6b-US$26,775,356,164.7824.8x-41x6.7x
Sun, 31 Mar 2024US$1.2tUS$164.4b-US$23,602,941,195.6621.6x-50x7.2x
Tue, 27 Feb 2024US$1.2tUS$166.9b-US$21,602,631,007.3713.5x-55.1x7.1x
Thu, 25 Jan 2024US$1.4tUS$204.7b-US$22,524,950,232.0018.2x-63.9x7x
Sat, 23 Dec 2023US$1.4tUS$204.9b-US$22,145,415,775.0019.4x-61.9x6.7x
Mon, 20 Nov 2023US$1.2tUS$204.7b-US$22,041,460,760.0018.1x-55.3x6x
Wed, 18 Oct 2023US$1.3tUS$207.4b-US$13,066,450,907.0017.3x-97.1x6.1x
Fri, 15 Sep 2023US$1.3tUS$207.5b-US$12,636,400,679.0017.6x-101.2x6.2x
Sun, 13 Aug 2023US$1.3tUS$207.7b-US$12,540,100,481.0017.1x-102.7x6.2x
Tue, 11 Jul 2023US$1.1tUS$186.4b-US$16,008,439,670.0013.2x-70x6x
Thu, 08 Jun 2023US$1.1tUS$186.0b-US$16,014,822,818.0011.7x-71.2x6.1x
Sat, 06 May 2023US$1.2tUS$192.6b-US$12,088,374,569.0015.6x-97.1x6.1x
Mon, 03 Apr 2023US$1.2tUS$217.0b-US$6,024,358,980.0014.3x-192.4x5.3x
Price to Earnings Ratio

-192.4x


Total Market Cap: US$1.2tTotal Earnings: -US$6,024,358,980.00Total Revenue: US$217.0bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Biotech Industry Price to Earnings3Y Average -63.5x202420252026
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 7.4x.
Past Earnings Growth
  • The earnings for companies in the Biotechs industry have deteriorated over the last three years.
  • Revenues have also declined 8.5% 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 Market-1.62%
Healthcare-0.29%
Biotech0.44%
Biotech0.44%
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
ABBV AbbVieUS$211.122.4%
+US$8.8b		4.1%PE89.2x
ALNY Alnylam PharmaceuticalsUS$328.165.5%
+US$2.3b		21.1%PE138.7x
REGN Regeneron PharmaceuticalsUS$756.732.6%
+US$2.0b		19.0%PE17.2x
AMGN AmgenUS$353.160.9%
+US$1.7b		15.5%PE24.7x
MDGL Madrigal PharmaceuticalsUS$518.7614.2%
+US$1.5b		53.8%PS12.4x

Latest News

REGN
US$756.73
Regeneron Pharmaceuticals
7D
2.6%
1Y
19.0%
APGE
US$78.42
Apogee Therapeutics
7D
14.5%
1Y
99.8%
ALNY
US$328.16
Alnylam Pharmaceuticals
7D
5.5%
1Y
21.1%
ABBV
US$211.12
AbbVie
7D
2.4%
1Y
4.1%

ABBV: Future Returns Will Hinge On Immunology Encore Outweighing Competitive Concerns

Narrative Update The analyst price target for AbbVie has been adjusted slightly higher to reflect a fair value move to about $249. Analysts point to early stage indication expansion, operating leverage potential, and ongoing immunology pipeline developments, even as some firms flag emerging competition and a more balanced risk and reward profile.
GILD
US$136.88
Gilead Sciences
7D
-3.0%
1Y
23.1%
NTRA
US$196.15
Natera
7D
-3.2%
1Y
32.3%

NTRA: Molecular Residual Disease Leadership And Genomics Launch Will Shape Future Outlook

The analyst fair value estimate for Natera has been adjusted modestly higher from $257.20 to $260.65, reflecting updated models that incorporate recent Street price target revisions and assumptions for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Street research around Natera has centered on how the company executes on its current guidance, maintains its position in key testing markets, and justifies premium valuation multiples through future growth and margin delivery.
VRTX
US$453.74
Vertex Pharmaceuticals
7D
-0.9%
1Y
-9.7%

VRTX: Renal Trial Success And Nephrology Pipeline Will Drive Next Phase

Vertex Pharmaceuticals' analyst fair value estimate has moved from $504.04 to $547.72. Analysts point to higher modeled revenue growth, slightly stronger profit margins, a richer future P/E assumption, and a wave of Street price target hikes tied to positive povetacicept Phase 3 RAINIER data and the growing nephrology pipeline.
ADMA
US$8.29
ADMA Biologics
7D
-44.8%
1Y
-59.1%

ADMA: Long Term Revenue Guidance And Buybacks Will Support Bullish Outlook

Analysts are maintaining their $17.00 price target on ADMA Biologics, as only minor adjustments to the discount rate, revenue growth, profit margin, and future P/E assumptions do not materially change their view of the stock's valuation. What's in the News ADMA completed a share repurchase program announced on May 7, 2025, buying back a total of 1,919,070 shares, or 0.8% of shares, for US$31.92 million, including 590,422 shares, or 0.25% of shares, for US$8.91 million between October 1, 2025 and December 31, 2025 (Key Developments).
BIIB
US$191.06
Biogen
7D
4.2%
1Y
36.2%

BIIB: 2026 Clinical Readouts Will Likely Undermine Recent Pipeline Optimism

Analysts have nudged Biogen's fair value estimate higher to $151.48 from $147.47, reflecting a series of recent price target increases across the Street and ongoing reassessments of the company's pipeline and commercial outlook. Analyst Commentary Recent Street research around Biogen points to a mixed setup, with several firms adjusting price targets and ratings as they reassess the pipeline, commercial execution, and sector positioning.
IBRX
US$7.38
ImmunityBio
7D
-16.3%
1Y
119.6%
RYTM
US$81.90
Rhythm Pharmaceuticals
7D
-9.3%
1Y
53.1%

RYTM: Hypothalamic Obesity Approval And Launch Preparations Will Drive Next Upside Phase

The updated analyst model trims the blended price target for Rhythm Pharmaceuticals by about $4 to $135.53 as analysts factor in slightly lower revenue growth and margin assumptions, along with a higher projected future P/E multiple following recent EMANATE trial results and ongoing focus on Imcivree and hypothalamic obesity. Analyst Commentary Recent Street research around Rhythm Pharmaceuticals reflects a mixed but engaged view, with several firms adjusting price targets after EMANATE and other trial updates, as well as ongoing focus on Imcivree and hypothalamic obesity.
SMMT
US$17.26
Summit Therapeutics
7D
9.8%
1Y
-16.2%

Future Clinical Setbacks In Phase III Programs Will Threaten Long Term Oncology Ambitions

Catalysts About Summit Therapeutics Summit Therapeutics is a biopharmaceutical company focused on developing and commercializing ivonescimab for cancer patients across multiple solid tumor indications. What are the underlying business or industry changes driving this perspective?
ONC
US$276.95
BeOne Medicines
7D
-2.0%
1Y
5.5%

ONC: Hematology Franchise Strength And Pipeline Readouts Will Re Rate Shares

BeOne Medicines' updated analyst price target has moved lower, reflecting a reduced fair value estimate to $478.80 as analysts factor in more moderate revenue growth, slimmer profit margins, a slightly higher discount rate, and a higher future P/E multiple. This multiple is anchored by strong Brukinsa performance but a slower build for the next wave of assets.
RVMD
US$93.21
Revolution Medicines
7D
-6.1%
1Y
144.6%

Late Stage RAS Oncology Pipeline Will Face Heavy Costs Yet Eventually Support Stable Long Term Outlook

Catalysts About Revolution Medicines Revolution Medicines focuses on targeted therapies for cancers driven by RAS mutations, with a pipeline of RAS(ON) inhibitors across pancreatic, lung and colorectal indications. What are the underlying business or industry changes driving this perspective?
AMGN
US$353.16
Amgen
7D
0.9%
1Y
15.5%

AMGN: Fair Outlook Balances Patent Expiries With Late Stage Pipeline Potential

The Analyst Price Target for Amgen has been updated from $327.74 to $350.03 as analysts factor in recent price target increases tied to stronger near term commercial execution, added value from key Phase 3 pipeline assets, and a shift toward discounted cash flow based models that emphasize improved margin assumptions and a slightly lower discount rate. Analyst Commentary Recent Street commentary around Amgen reflects a mix of optimism about the current execution and pipeline, alongside ongoing debate about valuation, product risks, and long term earnings durability.
MDGL
US$518.76
Madrigal Pharmaceuticals
7D
14.2%
1Y
53.8%

MDGL: Cirrhosis Expansion And MASH Combinations Will Drive Future Repricing

Analysts now set the fair value estimate for Madrigal Pharmaceuticals at $529, up $27 from $502. This reflects updated models that factor in gross to net adjustments, recent licensing activity, and mixed revisions to Street price targets across firms.