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U.S. Pharma Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies319
  • 7D-2.0%
  • 3M12.2%
  • 1Y44.2%
  • YTD12.5%

Over the last 7 days, the Pharma industry has dropped 2.0%, driven by a pullback from Eli Lilly of 2.1%. In contrast, Crinetics Pharmaceuticals has gained 98%. This takes the industry's 12 month performance to a gain of 44%. Looking forward, earnings are forecast to grow by 15% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026US$2.5tUS$425.2bUS$66.0b14.9x38.6x6x
Tue, 09 Jun 2026US$2.4tUS$424.1bUS$66.3b15x36.4x5.7x
Thu, 07 May 2026US$2.3tUS$423.7bUS$62.4b16.7x36.6x5.4x
Sat, 04 Apr 2026US$2.3tUS$405.9bUS$72.5b16.4x31.5x5.6x
Mon, 02 Mar 2026US$2.4tUS$405.9bUS$72.4b20x33.5x6x
Wed, 28 Jan 2026US$2.3tUS$404.7bUS$73.2b20.2x31.4x5.7x
Fri, 26 Dec 2025US$2.3tUS$402.8bUS$71.4b19.9x31.7x5.6x
Sun, 23 Nov 2025US$2.2tUS$402.7bUS$71.4b19.9x30.3x5.4x
Tue, 21 Oct 2025US$1.9tUS$389.2bUS$63.5b18.6x29.6x4.8x
Thu, 18 Sep 2025US$1.8tUS$387.9bUS$60.9b18.7x29.2x4.6x
Sat, 16 Aug 2025US$1.7tUS$387.8bUS$61.0b18.9x28.1x4.4x
Mon, 14 Jul 2025US$1.8tUS$382.7bUS$61.3b18.1x28.8x4.6x
Wed, 11 Jun 2025US$1.7tUS$382.7bUS$61.2b18.2x28.3x4.5x
Fri, 09 May 2025US$1.7tUS$383.0bUS$64.0b16.7x26.7x4.5x
Sun, 06 Apr 2025US$1.7tUS$379.9bUS$41.3b16x40.4x4.4x
Tue, 04 Mar 2025US$2.0tUS$381.1bUS$39.3b16.8x49.8x5.1x
Thu, 30 Jan 2025US$1.8tUS$370.2bUS$29.9b19.6x61.7x5x
Sat, 28 Dec 2024US$1.8tUS$369.4bUS$31.1b16.9x58.4x4.9x
Mon, 25 Nov 2024US$1.8tUS$373.8bUS$30.6b20.5x59.3x4.8x
Wed, 23 Oct 2024US$2.0tUS$365.3bUS$23.7b18.2x84.6x5.5x
Fri, 20 Sep 2024US$2.0tUS$364.2bUS$25.4b19x80.3x5.6x
Sun, 18 Aug 2024US$2.0tUS$362.1bUS$21.8b17.3x91.7x5.5x
Tue, 16 Jul 2024US$2.0tUS$357.7bUS$13.8b15.9x146.1x5.7x
Thu, 13 Jun 2024US$1.9tUS$358.3bUS$14.1b15.8x138.1x5.4x
Sat, 11 May 2024US$1.9tUS$358.2bUS$13.5b18.5x137.7x5.2x
Mon, 08 Apr 2024US$1.9tUS$355.2bUS$22.8b24.7x82.2x5.3x
Wed, 06 Mar 2024US$1.9tUS$355.3bUS$22.5b23.4x84.5x5.3x
Fri, 02 Feb 2024US$1.8tUS$353.0bUS$22.3b32x80.4x5.1x
Sun, 31 Dec 2023US$1.7tUS$375.2bUS$33.8b31.9x49.9x4.5x
Tue, 28 Nov 2023US$1.7tUS$375.1bUS$33.9b26x48.8x4.4x
Thu, 26 Oct 2023US$1.7tUS$382.7bUS$44.7b14.9x36.9x4.3x
Sat, 23 Sep 2023US$1.7tUS$381.8bUS$43.9b19.9x38.3x4.4x
Mon, 21 Aug 2023US$1.8tUS$381.6bUS$44.1b18.5x40.4x4.7x
Wed, 19 Jul 2023US$1.7tUS$392.8bUS$60.2b18.9x27.6x4.2x
Price to Earnings Ratio

27.6x


Total Market Cap: US$1.7tTotal Earnings: US$60.2bTotal Revenue: US$392.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Pharma Industry Price to Earnings3Y Average 54.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Pharmaceuticals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 39.2x which is lower than its 3-year average PE of 54.3x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 6.1x.
Past Earnings Growth
  • The earnings for companies in the Pharmaceuticals industry have grown 3.1% per year over the last three years.
  • Revenues for these companies have grown 2.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

US Market0.81%
Healthcare-1.49%
Pharma-2.04%
Pharma-2.04%
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
CRNX Crinetics PharmaceuticalsUS$83.5897.9%
+US$4.4b		161.8%PS487.7x
EWTX Edgewise TherapeuticsUS$45.4114.8%
+US$629.4m		228.1%PB9.9x
DFTX Definium TherapeuticsUS$47.076.5%
+US$382.3m		484.0%PB22.4x
ZTS ZoetisUS$75.561.0%
+US$318.6m		-51.2%PE11.9x
ALMS AlumisUS$28.316.8%
+US$230.8m		704.3%PS429.6x

Latest News

TEVA
US$32.95
Teva Pharmaceutical Industries
7D
-4.9%
1Y
100.9%
PFE
US$24.17
Pfizer
7D
-0.6%
1Y
-5.8%
Seeking Alpha • 21h

Pfizer: The Post-Pandemic Turnaround Is Already Underway

Summary Pfizer is undervalued, trading at just over 8x 2026 earnings, with a 7% dividend yield and improving core business fundamentals. Core business excluding COVID drugs grew 7% in Q1, and newly launched/acquired products, especially from Seagen, are driving robust 20%+ growth. Seagen’s acquisition is reshaping PFE’s growth, with Padcev leading oncology momentum and a strong cost savings program underway. I assign Pfizer a buy, expecting mean reversion as cost cuts and new product pillars scale, despite patent cliffs and debt headwinds. Read the full article on Seeking Alpha
MRK
US$123.54
Merck
7D
-4.6%
1Y
48.2%
LLY
US$1,188.58
Eli Lilly
7D
-2.1%
1Y
49.9%
Narrative Update • Jul 10

LLY: GLP-1 Franchise And Retatrutide Data Will Support Balanced Future Outlook

Analysts have nudged their price targets on Eli Lilly higher, with fair value estimates moving from about $1,218.72 to roughly $1,243.43 as they point to resilient GLP-1 obesity and diabetes franchises, along with supportive recent data and previews around Zepbound, Mounjaro, Foundayo and retatrutide. Analyst Commentary Recent research updates on Eli Lilly show a cluster of higher price targets around the GLP-1 obesity and diabetes portfolio, with Zepbound, Mounjaro, Foundayo and retatrutide at the center of the discussion.
CRNX
US$83.58
Crinetics Pharmaceuticals
7D
97.9%
1Y
161.8%
Narrative Update • Jul 10

CRNX: Takeover Offer And Delayed Rival Entry Will Shape Endocrine Outlook

Crinetics Pharmaceuticals' analyst fair value estimate has been trimmed from $97 to $90 as analysts recalibrate expectations around the $85 per share cash acquisition by Vertex Pharmaceuticals and the cluster of rating downgrades to Hold or Neutral that now anchor views closer to the agreed deal price. Analyst Commentary Analysts covering Crinetics Pharmaceuticals are now largely treating the stock as a merger arbitrage situation, with ratings concentrated around Hold or Neutral and price targets aligning closely with the agreed US$85 per share cash offer from Vertex Pharmaceuticals.
CORT
US$91.88
Corcept Therapeutics
7D
1.9%
1Y
27.8%
Seeking Alpha • Jul 10

Corcept Therapeutics: Recent Relacorilant Rejection Aside, A Good News Story For Investors

Summary Corcept Therapeutics maintains a Buy rating, supported by robust revenue growth, pipeline progress, and strong management execution. Relacorilant’s FDA approval in ovarian cancer and likely approval in Cushing’s syndrome could drive CORT revenues above $3 billion annually by decade’s end. 2026 revenue guidance of $950M–$1.05B reflects >30% YoY growth, with minimal impact expected from generic competition due to pipeline innovation. Despite a forward P/S of ~10x, CORT’s $10B+ market cap is justified by multi-billion dollar peak revenue potential and expanding clinical pipeline. Read the full article on Seeking Alpha
DFTX
US$47.07
Definium Therapeutics
7D
6.5%
1Y
484.0%
Narrative Update • Jul 10

DFTX: Phase 3 Depression Data Will Drive Repricing Of Psychedelic Franchise

Definium Therapeutics' analyst fair value estimate has moved from about $63.18 to $72.73. This reflects analysts' updated price targets around $57 to $74 after stronger than expected DT120 Phase 3 data in major depressive disorder and generalized anxiety disorder indications, as well as model changes following the recent $805m capital raise.
AXSM
US$233.80
Axsome Therapeutics
7D
-4.3%
1Y
114.5%
JNJ
US$256.98
Johnson & Johnson
7D
-2.3%
1Y
63.8%
ZTS
US$75.56
Zoetis
7D
1.0%
1Y
-51.2%
Narrative Update • Jul 08

ZTS: Depressed Sentiment Will Set Up Long-Term Premium Portfolio Recovery

The analyst price target for Zoetis has been revised down from about $184 to $160. This reflects lower modeled revenue growth, a slightly higher discount rate, and reduced future P/E assumptions, which are partly tied to recent sector wide target cuts and concerns around key products and consumer trade down.
MBX
US$61.05
MBX Biosciences
7D
5.6%
1Y
368.2%
EWTX
US$45.41
Edgewise Therapeutics
7D
14.8%
1Y
228.1%
ALMS
US$28.31
Alumis
7D
6.8%
1Y
704.3%
BMY
US$57.58
Bristol-Myers Squibb
7D
-0.9%
1Y
22.9%
Seeking Alpha • Jul 03

Bristol-Myers Squibb: Cash Flow Machine, Outsized Growth Portfolio, And Inflation Beating Incomes

Summary BMY’s growth portfolio now comprises 54.1% of revenues and delivered +9% YoY growth in FQ1’26 against the legacy portfolio's slower erosion, supporting further upside to the currently conservative FY2026 guidance. Strategic partnerships with Jiangsu Hengrui, accretive M&As, and strong uptake of Opdivo Qvantig underpin the company's multi-pronged portfolio renewal efforts, despite the near-term IPRD noise. BMY's intermediate-term top/bottom-line growth prospects are likely to underwhelm due to LOE risks from Eliquis/Opdivo, albeit with secure dividend payouts at 39.2% of free cash flow. I reiterate my Buy rating for patient, income-oriented investors, with the recommendation to accumulate at yields above 4.2% for an inflation beating income thesis. Read the full article on Seeking Alpha
RPRX
US$56.43
Royalty Pharma
7D
-2.3%
1Y
57.4%
Narrative Update • Jul 03

RPRX: Royalty Deals And Buybacks Will Test Rich Earnings Assumptions

Royalty Pharma's analyst price target has shifted modestly higher, with updated fair value estimates moving from $46.00 to about $47.90 as analysts factor in revised assumptions around revenue growth, profit margins, and future P/E expectations. Analyst Commentary on Royalty Pharma Recent Street research on Royalty Pharma points to a more cautious tone beneath the modestly higher fair value estimates.
RAPP
US$41.75
Rapport Therapeutics
7D
7.1%
1Y
186.0%