20-quarter listed-company comparison

Biotechnology Stocks

Biotechnology: Regeneron Pharmaceuticals, Inc. owns the largest revenue base; Ascendis Pharma A/S has the fastest current growth.

01 · the industry itself · before any single company

How has Biotechnology moved against S&P 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this industry is 96% ahead of S&P 500. Earnings across its companies fell 17% on average over the last four reported quarters. It has been ahead of S&P 500 on a rolling three-month view for 13 weeks running.

LEADER · ahead 13w~Price up, without the fundamentals confirming147 of 305 companies ahead of S&P 500 by 5% or more over three months2 are 20% or more behind over a year while earnings grew 20% or more

RS ↑13w · 172/304 >200d (−39) · 147/305 lead (−46) · EPS 161/297↑

Biotechnology, equal-weighted, based at 200 S&P 500, same base, same start trailing 12-month earnings per share rising falling

Both lines start at 200 in the same week, so the distance between them is the whole story: the industry line is an equal-weighted index of its 305 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the industry taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

02 · sector relative strength, before individual stocks

Is Biotechnology outperforming S&P 500?

Biotechnology has outperformed S&P 500 by 51.7% over the last 52 weeks. Over 13 weeks the gap is a lead of 19.4%. 21 of 29 covered companies currently beat the S&P 500 on Mansfield relative strength, so leadership inside the sector is selective. Moderna, Inc. is the strongest against the sector itself at +123%.

+19.4%Sector vs S&P 500 · 13 weeks

+51.7%Sector vs S&P 500 · 52 weeks

21/29Stocks leading S&P 500

7/29Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Biotechnology has outperformed S&P 500 by 51.7% over 52 weeks and 19.4% over 13 weeks. 21 of 29 covered companies beat the S&P 500 on Mansfield relative strength, while 7 of 29 beat the sector itself. Regeneron Pharmaceuticals, Inc. leads with revenue of $15,534 million, based on 23 of 30 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

$802.6B

Vertex Pharmaceuticals Incorporated

Revenue growing

18/22

positive TTM year-on-year growth

Beating S&P 500

21/29

positive Mansfield relative strength

Comparing 5 of 30

03 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Incyte Corporation has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 75.3% evidence confidence.

Genmab A/S looks inexpensive relative to peers or its own history, but its earnings trajectory has not yet earned the valuation signal.

Halozyme Therapeutics, Inc. has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led S&P 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led S&P 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Incyte CorporationINCY	73.7/100Favorable setup75% evidence	LEADER	30.0/35 Revenue 26.9% · PAT 85.3% · OPM change 16.3 pp 95% evidence	21.2/25 ROCE 28.1% · OPM 41.9% 76% evidence	10.9/20 P/E 14× · PEG — 15% evidence	11.6/20 RS sector -5.7% · RS bench 13.1% · 1Y 44.2%12 of 12 weeks ahead 100% evidence
Exact sum: 30 + 21.2 + 10.9 + 11.6 = 73.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Halozyme Therapeutics, Inc.HALO	65.7/100Favorable setup81% evidence	LEADER	15.9/35 Revenue 39.2% · PAT -28.3% · OPM change -4.4 pp 83% evidence	16.8/25 ROCE 8.5% · OPM 49% 76% evidence	14.8/20 P/E 23.2× · PEG 0.27 65% evidence	18.2/20 RS sector 14.4% · RS bench 36.7% · 1Y 39.4%11 of 12 weeks ahead 100% evidence
Exact sum: 15.9 + 16.8 + 14.8 + 18.2 = 65.7 · Decision use: Price leads the evidence: RS versus the benchmark is 36.7%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
3argenx SEARGX	60.3/100Mixed-positive evidence85% evidence	BREAKING OUT	26.2/35 Revenue 70.5% · PAT 34.1% · OPM change 11.2 pp 95% evidence	14.0/25 ROCE 6.8% · OPM 32% 76% evidence	11.1/20 P/E 35.6× · PEG 1.06 65% evidence	9.0/20 RS sector -9.1% · RS bench 9.3% · 1Y 33.7%9 of 12 weeks ahead 100% evidence
Exact sum: 26.2 + 14 + 11.1 + 9 = 60.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Exelixis, Inc.EXEL	59.3/100Thin evidence · provisional56% evidence	BREAKING OUT	21.1/35 Revenue — · PAT — · OPM change 7.5 pp 39% evidence	17.3/25 ROCE 10.8% · OPM 41.1% 76% evidence	11.0/20 P/E 14× · PEG — 15% evidence	9.9/20 RS sector -4.6% · RS bench 14.2% · 1Y 41.6%10 of 12 weeks ahead 100% evidence
Exact sum: 21.1 + 17.3 + 11 + 9.9 = 59.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
5Jazz Pharmaceuticals plcJAZZ	59.0/100Mixed-positive evidence74% evidence	TURNING	21.9/35 Revenue 9.2% · PAT -93.8% · OPM change 37.7 pp 62% evidence	12.5/25 ROCE 3.4% · OPM 31.5% 76% evidence	14.2/20 P/E 16.6× · PEG 0.33 65% evidence	10.4/20 RS sector -1.3% · RS bench 17.4% · 1Y 89.9%7 of 12 weeks ahead 100% evidence
Exact sum: 21.9 + 12.5 + 14.2 + 10.4 = 59 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6Corcept Therapeutics IncorporatedCORT	57.8/100Thin evidence · provisional58% evidence	LEADER	17.4/35 Revenue — · PAT — · OPM change -32.3 pp 45% evidence	12.8/25 ROCE 5.9% · OPM -30.1% 76% evidence	8.5/20 P/E 207× · PEG — 15% evidence	19.1/20 RS sector 25.7% · RS bench 50% · 1Y 38.9%12 of 12 weeks ahead 100% evidence
Exact sum: 17.4 + 12.8 + 8.5 + 19.1 = 57.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
7Krystal Biotech, Inc.KRYS	57.5/100Mixed-positive evidence81% evidence	FADING	22.8/35 Revenue 25.2% · PAT 80.7% · OPM change 5 pp 83% evidence	13.4/25 ROCE 4.7% · OPM 46.1% 76% evidence	12.7/20 P/E 34.5× · PEG 0.8 65% evidence	8.6/20 RS sector -3.6% · RS bench 14.6% · 1Y 105.8%9 of 12 weeks ahead 100% evidence
Exact sum: 22.8 + 13.4 + 12.7 + 8.6 = 57.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Moderna, Inc.MRNA	54.9/100Mixed-positive evidence67% evidence	LEADER	18.9/35 Revenue -27.6% · PAT — · OPM change 80.8 pp 71% evidence	4.8/25 ROCE -28.9% · OPM -557.9% 76% evidence	11.2/20 P/E -11.6× · PEG — 15% evidence	20.0/20 RS sector 123% · RS bench 157.5% · 1Y 476.9%10 of 12 weeks ahead 100% evidence
Exact sum: 18.9 + 4.8 + 11.2 + 20 = 54.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9Genmab A/SGMAB	54.0/100Mixed-positive evidence81% evidence	BREAKING OUT	13.9/35 Revenue 27.5% · PAT -19.9% · OPM change -6.2 pp 83% evidence	13.5/25 ROCE 2.1% · OPM 20.1% 76% evidence	15.4/20 P/E 20.4× · PEG 0.24 65% evidence	11.2/20 RS sector -10.4% · RS bench 8.2% · 1Y 21.6%8 of 12 weeks ahead 100% evidence
Exact sum: 13.9 + 13.5 + 15.4 + 11.2 = 54 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
10BeOne Medicines AGONC	54.0/100Mixed-positive evidence67% evidence	BREAKING OUT	23.5/35 Revenue 34.3% · PAT — · OPM change 12.4 pp 71% evidence	12.4/25 ROCE 5.8% · OPM 19.1% 76% evidence	8.7/20 P/E 77.6× · PEG — 15% evidence	9.4/20 RS sector -15.7% · RS bench 1.8% · 1Y 4.1%7 of 12 weeks ahead 100% evidence
Exact sum: 23.5 + 12.4 + 8.7 + 9.4 = 54 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11Vertex Pharmaceuticals IncorporatedVRTX	52.0/100Mixed-positive evidence85% evidence	BREAKING OUT	17.2/35 Revenue 10.2% · PAT 21.1% · OPM change -1.4 pp 95% evidence	15.2/25 ROCE 5.7% · OPM 37.4% 76% evidence	10.5/20 P/E 28.9× · PEG 1.27 65% evidence	9.1/20 RS sector -12.9% · RS bench 4.6% · 1Y 34%11 of 12 weeks ahead 100% evidence
Exact sum: 17.2 + 15.2 + 10.5 + 9.1 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12Kymera Therapeutics, Inc.KYMR	48.9/100Mixed-negative evidence61% evidence	LEADER	18.1/35 Revenue -13.6% · PAT — · OPM change 91.9 pp 62% evidence	6.5/25 ROCE -6.8% · OPM -244.9% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	14.3/20 RS sector 8.6% · RS bench 28.7% · 1Y 136.8%12 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 6.5 + 10 + 14.3 = 48.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Alnylam Pharmaceuticals, Inc.ALNY	48.4/100Mixed-negative evidence67% evidence	BASING	25.3/35 Revenue 95.1% · PAT — · OPM change 20 pp 71% evidence	12.6/25 ROCE 6.3% · OPM 17.9% 76% evidence	9.0/20 P/E 56× · PEG — 15% evidence	1.5/20 RS sector -46.6% · RS bench -34.3% · 1Y -47.2%0 of 12 weeks ahead 100% evidence
Exact sum: 25.3 + 12.6 + 9 + 1.5 = 48.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -46.6% and the one-year return is -47.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
14Regeneron Pharmaceuticals, Inc.REGN	47.8/100Mixed-negative evidence85% evidence	BREAKING OUT	16.4/35 Revenue 9.3% · PAT -2.9% · OPM change 0.7 pp 95% evidence	14.4/25 ROCE 3.7% · OPM 30.1% 76% evidence	8.3/20 P/E 15.4× · PEG 2.17 65% evidence	8.7/20 RS sector -15.9% · RS bench 1.1% · 1Y 30.8%7 of 12 weeks ahead 100% evidence
Exact sum: 16.4 + 14.4 + 8.3 + 8.7 = 47.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
15Royalty Pharma plcRPRX	47.6/100Mixed-negative evidence85% evidence	LEADER	11.9/35 Revenue 10% · PAT -19.1% · OPM change -16.6 pp 95% evidence	11.9/25 ROCE 0.7% · OPM 19.7% 76% evidence	13.9/20 P/E 29.8× · PEG 0.29 65% evidence	9.9/20 RS sector -3.2% · RS bench 15.4% · 1Y 61.3%11 of 12 weeks ahead 100% evidence
Exact sum: 11.9 + 11.9 + 13.9 + 9.9 = 47.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
16Bio-Techne CorporationTECH	45.6/100Mixed-negative evidence81% evidence	LEADER	17.0/35 Revenue 0.3% · PAT -18.1% · OPM change 12 pp 83% evidence	13.3/25 ROCE 3.1% · OPM 24.2% 76% evidence	3.8/20 P/E 75.7× · PEG 7.7 65% evidence	11.5/20 RS sector -7.9% · RS bench 10.6% · 1Y 36.1%12 of 12 weeks ahead 100% evidence
Exact sum: 17 + 13.3 + 3.8 + 11.5 = 45.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17Revolution Medicines, Inc.RVMD	40.5/100Thin evidence · provisional53% evidence	LEADER	9.7/35 Revenue — · PAT — · OPM change -23854 pp 52% evidence	6.8/25 ROCE -16.3% · OPM — 61% evidence	10.0/20 P/E — · PEG — 0% evidence	14.0/20 RS sector 29.2% · RS bench 50.7% · 1Y 350%12 of 12 weeks ahead 100% evidence
Exact sum: 9.7 + 6.8 + 10 + 14 = 40.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
18Roivant Sciences Ltd.ROIV	39.3/100Mixed-negative evidence63% evidence	LEADER	7.8/35 Revenue -65.2% · PAT — · OPM change -12375.3 pp 71% evidence	6.3/25 ROCE -27.2% · OPM — 61% evidence	11.5/20 P/E -66.1× · PEG — 15% evidence	13.7/20 RS sector 15.5% · RS bench 36.8% · 1Y 163.1%12 of 12 weeks ahead 100% evidence
Exact sum: 7.8 + 6.3 + 11.5 + 13.7 = 39.3 · Decision use: Price leads the evidence: RS versus the benchmark is 36.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
19Cytokinetics, IncorporatedCYTK	38.7/100Mixed-negative evidence61% evidence	ASLEEP	21.8/35 Revenue 100% · PAT — · OPM change 8907.6 pp 62% evidence	4.4/25 ROCE -16.9% · OPM -948.7% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	2.5/20 RS sector -20.2% · RS bench -4.2% · 1Y 42.6%5 of 12 weeks ahead 100% evidence
Exact sum: 21.8 + 4.4 + 10 + 2.5 = 38.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20Insmed IncorporatedINSM	38.6/100Mixed-negative evidence64% evidence	BREAKING OUT	18.8/35 Revenue 100% · PAT — · OPM change 212.6 pp 71% evidence	4.3/25 ROCE -48.8% · OPM -23.8% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	5.5/20 RS sector -35.3% · RS bench -21% · 1Y -15.3%7 of 12 weeks ahead 100% evidence
Exact sum: 18.8 + 4.3 + 10 + 5.5 = 38.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21Madrigal Pharmaceuticals, Inc.MDGL	37.9/100Thin evidence · provisional55% evidence	TURNING	16.8/35 Revenue — · PAT — · OPM change 28 pp 45% evidence	7.2/25 ROCE -6.7% · OPM -29.8% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	3.9/20 RS sector -18.5% · RS bench -1.9% · 1Y 20.3%3 of 12 weeks ahead 100% evidence
Exact sum: 16.8 + 7.2 + 10 + 3.9 = 37.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
22Axsome Therapeutics, Inc.AXSM	37.4/100Mixed-negative evidence61% evidence	ASLEEP	16.7/35 Revenue 63.9% · PAT — · OPM change 13.8 pp 62% evidence	4.7/25 ROCE -20.2% · OPM -33.1% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	6.0/20 RS sector -9.4% · RS bench 8% · 1Y 82.8%4 of 12 weeks ahead 100% evidence
Exact sum: 16.7 + 4.7 + 10 + 6 = 37.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
23BridgeBio Pharma, Inc.BBIO	35.6/100Mixed-negative evidence61% evidence	FADING	18.8/35 Revenue 100% · PAT — · OPM change 35 pp 62% evidence	5.1/25 ROCE -16.5% · OPM -54.5% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	1.7/20 RS sector -24.7% · RS bench -9.8% · 1Y 30.4%8 of 12 weeks ahead 100% evidence
Exact sum: 18.8 + 5.1 + 10 + 1.7 = 35.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24BioMarin Pharmaceutical Inc.BMRN	35.0/100Mixed-negative evidence81% evidence	BREAKING OUT	9.3/35 Revenue 9.9% · PAT -48.7% · OPM change -13.1 pp 83% evidence	10.9/25 ROCE 1.8% · OPM 16.9% 76% evidence	4.7/20 P/E 41.2× · PEG 5.86 65% evidence	10.1/20 RS sector -12.6% · RS bench 5.2% · 1Y 19.1%9 of 12 weeks ahead 100% evidence
Exact sum: 9.3 + 10.9 + 4.7 + 10.1 = 35 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25BioNTech SEBNTX	30.4/100Adverse evidence67% evidence	FADING	7.7/35 Revenue -8% · PAT — · OPM change -641.6 pp 71% evidence	6.7/25 ROCE -10.2% · OPM -806.6% 76% evidence	11.3/20 P/E -39.7× · PEG — 15% evidence	4.7/20 RS sector -25% · RS bench -9.2% · 1Y -0.4%2 of 12 weeks ahead 100% evidence
Exact sum: 7.7 + 6.7 + 11.3 + 4.7 = 30.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26Arrowhead Pharmaceuticals, Inc.ARWR	28.5/100Thin evidence · provisional58% evidence	FADING	10.9/35 Revenue — · PAT — · OPM change -261.8 pp 45% evidence	7.0/25 ROCE -8.5% · OPM -191.6% 76% evidence	9.1/20 P/E 43.4× · PEG — 15% evidence	1.5/20 RS sector -20.4% · RS bench -5.6% · 1Y 114.4%10 of 12 weeks ahead 100% evidence
Exact sum: 10.9 + 7 + 9.1 + 1.5 = 28.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
27Ascendis Pharma A/SASND	56.2/100Thin evidence · provisional44% evidence	TURNING	25.8/35 Revenue 100% · PAT — · OPM change 113.3 pp 62% evidence	10.3/25 ROCE 4.7% · OPM 10.1% 76% evidence	10.1/20 P/E 26.8× · PEG — 15% evidence	10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence
Exact sum: 25.8 + 10.3 + 10.1 + 10 = 56.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
28Apogee Therapeutics, Inc.APGE	50.8/100Thin evidence · provisional47% evidence		15.8/35 Revenue — · PAT — · OPM change — 33% evidence	7.7/25 ROCE -8.5% · OPM — 61% evidence	10.0/20 P/E — · PEG — 0% evidence	17.3/20 RS sector 22.9% · RS bench 48.8% · 1Y 256.7%10 of 10 weeks ahead 100% evidence
Exact sum: 15.8 + 7.7 + 10 + 17.3 = 50.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
29Summit Therapeutics Inc.SMMT	46.5/100Thin evidence · provisional47% evidence	TURNING	12.4/35 Revenue — · PAT — · OPM change — 33% evidence	17.1/25 ROCE 48.3% · OPM — 61% evidence	10.0/20 P/E — · PEG — 0% evidence	7.0/20 RS sector -22% · RS bench -5% · 1Y -8.4%3 of 12 weeks ahead 100% evidence
Exact sum: 12.4 + 17.1 + 10 + 7 = 46.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
30Nuvalent, Inc.NUVL	44.1/100Thin evidence · provisional47% evidence		16.7/35 Revenue — · PAT — · OPM change — 33% evidence	7.0/25 ROCE -10.5% · OPM — 61% evidence	10.0/20 P/E — · PEG — 0% evidence	10.4/20 RS sector -2.3% · RS bench 15.9% · 1Y 48.6%2 of 3 weeks ahead to 2026-07-17 100% evidence
Exact sum: 16.7 + 7 + 10 + 10.4 = 44.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 30 companies

04 · what price has already done

Market action

Moderna, Inc. has the strongest one-year price move in Biotechnology at +476.9%. It also leads on Mansfield relative strength against the S&P 500 at +157.5%. 21 of 29 covered companies are above zero on that measure. Every line covers 314 weekly closes through 2026-09-16.

Price and relative strength

Every company, the sector's own index and S&P 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · compare level, then change

Revenue Scale & Growth Durability

Regeneron Pharmaceuticals, Inc. has the highest Revenue among the 30 Biotechnology companies compared here, at $15,534 million. Vertex Pharmaceuticals Incorporated is next at $12,587 million. Ascendis Pharma A/S has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies. Its Revenue series carries 20 reported observations across the 20-quarter window.

What the numbers say: Regeneron Pharmaceuticals, Inc. is the scale leader at $15,534 million, 23.4% ahead of Vertex Pharmaceuticals Incorporated. Ascendis Pharma A/S's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 135% from a $867 million base, with 19 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderRegeneron Pharmaceuticals, Inc. · $15,534 million

Gap23.4% versus #2 · Vertex Pharmaceuticals Incorporated

Persistence7/8 recent comparable periods

Coverage23/30 companies · 489 observations

Investor read: Regeneron Pharmaceuticals, Inc. is the scale benchmark; Ascendis Pharma A/S is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Regeneron Pharmaceuticals, Inc.'s growth falls below Ascendis Pharma A/S's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Regeneron Pharmaceuticals, Inc. REGN$15.5B

2Vertex Pharmaceuticals Incorporated VRTX$12.6B

3BeOne Medicines AG ONC$6.1B

4Incyte Corporation INCY$5.8B

5argenx SE ARGX$5.3B

Revenue growthfastest growers

1Ascendis Pharma A/S ASND100%

2BridgeBio Pharma, Inc. BBIO100%

3Cytokinetics, Incorporated CYTK100%

4Insmed Incorporated INSM100%

5Alnylam Pharmaceuticals, Inc. ALNY95%

Revenue · company comparison

23/30 level · 22/30 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Regeneron Pharmaceuticals, Inc. REGN	$4.3B	17%	Jun 2026
Vertex Pharmaceuticals Incorporated VRTX	$3.3B	12%	Jun 2026
BeOne Medicines AG ONC	$1.7B	30%	Jun 2026
Incyte Corporation INCY	$1.7B	38%	Jun 2026
argenx SE ARGX	$1.5B	59%	Jun 2026
Alnylam Pharmaceuticals, Inc. ALNY	$1.3B	67%	Jun 2026
Jazz Pharmaceuticals plc JAZZ	$1.1B	19%	Mar 2026
Genmab A/S GMAB	$896M	25%	Mar 2026
BioMarin Pharmaceutical Inc. BMRN	$766M	2.8%	Mar 2026
Royalty Pharma plc RPRX	$674M	16%	Jun 2026
Exelixis, Inc. EXEL	$611M	10%	Jun 2026
Insmed Incorporated INSM	$425M	297%	Jun 2026
Halozyme Therapeutics, Inc. HALO	$377M	42%	Mar 2026
Madrigal Pharmaceuticals, Inc. MDGL	$311M	127%	Jun 2026
Bio-Techne Corporation TECH	$311M	-1.6%	Mar 2026
Ascendis Pharma A/S ASND	$247M	145%	Mar 2026
BridgeBio Pharma, Inc. BBIO	$195M	67%	Mar 2026
Axsome Therapeutics, Inc. AXSM	$191M	58%	Mar 2026
Corcept Therapeutics Incorporated CORT	$165M	5.1%	Jun 2026
Moderna, Inc. MRNA	$145M	2.1%	Jun 2026
Krystal Biotech, Inc. KRYS	$116M	32%	Mar 2026
BioNTech SE BNTX	$106M	-59%	Jun 2026
Arrowhead Pharmaceuticals, Inc. ARWR	$74M	-86%	Mar 2026
Kymera Therapeutics, Inc. KYMR	$34M	55%	Mar 2026
Cytokinetics, Incorporated CYTK	$19M	850%	Mar 2026
Revolution Medicines, Inc. RVMD	$1M	-93%	Jun 2026
Roivant Sciences Ltd. ROIV	$1M	-50%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021$188M

Dec 2021$259M

Mar 2022$213M

Jun 2022$225M

Sep 2022$264M

Dec 2022$335M

Mar 2023$319M

Jun 2023$319M

Sep 2023$751M

Dec 2023$440M

Mar 2024$494M

Jun 2024$660M

Sep 2024$501M

Dec 2024$593M

Mar 2025$594M

Jun 2025$774M

Sep 2025$1.2B

Dec 2025$1.1B

Mar 2026$1.2B

Jun 2026$1.3B

argenx SE · ARGX

Sep 2021$7M

Dec 2021$34M

Mar 2022$31M

Jun 2022$85M

Sep 2022$146M

Dec 2022$182M

Mar 2023$230M

Jun 2023$281M

Sep 2023$340M

Dec 2023$418M

Mar 2024$413M

Jun 2024$489M

Sep 2024$589M

Dec 2024$761M

Mar 2025$807M

Jun 2025$968M

Sep 2025$1.2B

Dec 2025$1.3B

Mar 2026$1.3B

Jun 2026$1.5B

BeOne Medicines AG · ONC

Sep 2021$206M

Dec 2021$214M

Mar 2022$307M

Jun 2022$342M

Sep 2022$388M

Dec 2022$380M

Mar 2023$448M

Jun 2023$595M

Sep 2023$781M

Dec 2023$631M

Mar 2024$752M

Jun 2024$929M

Sep 2024$1.0B

Dec 2024$1.1B

Mar 2025$1.1B

Jun 2025$1.3B

Sep 2025$1.4B

Dec 2025$1.5B

Mar 2026$1.5B

Jun 2026$1.7B

BioNTech SE · BNTX

Sep 2021$6.1B

Dec 2021$5.5B

Mar 2022$6.4B

Jun 2022$3.2B

Sep 2022$3.5B

Dec 2022$4.3B

Mar 2023$1.3B

Jun 2023$168M

Sep 2023$895M

Dec 2023$1.5B

Mar 2024$188M

Jun 2024$129M

Sep 2024$1.2B

Dec 2024$1.2B

Mar 2025$183M

Jun 2025$261M

Sep 2025$1.5B

Dec 2025$907M

Mar 2026$118M

Jun 2026$106M

Incyte Corporation · INCY

Sep 2021$813M

Dec 2021$863M

Mar 2022$733M

Jun 2022$911M

Sep 2022$823M

Dec 2022$927M

Mar 2023$809M

Jun 2023$955M

Sep 2023$919M

Dec 2023$1.0B

Mar 2024$881M

Jun 2024$1.0B

Sep 2024$1.1B

Dec 2024$1.2B

Mar 2025$1.1B

Jun 2025$1.2B

Sep 2025$1.4B

Dec 2025$1.5B

Mar 2026$1.3B

Jun 2026$1.7B

Insmed Incorporated · INSM

Sep 2021$47M

Dec 2021$56M

Mar 2022$53M

Jun 2022$65M

Sep 2022$68M

Dec 2022$59M

Mar 2023$65M

Jun 2023$77M

Sep 2023$79M

Dec 2023$84M

Mar 2024$76M

Jun 2024$90M

Sep 2024$93M

Dec 2024$104M

Mar 2025$93M

Jun 2025$107M

Sep 2025$142M

Dec 2025$264M

Mar 2026$306M

Jun 2026$425M

Moderna, Inc. · MRNA

Sep 2021$5.0B

Dec 2021$7.2B

Mar 2022$6.1B

Jun 2022$4.7B

Sep 2022$3.4B

Dec 2022$5.1B

Mar 2023$1.9B

Jun 2023$344M

Sep 2023$1.8B

Dec 2023$2.8B

Mar 2024$167M

Jun 2024$241M

Sep 2024$1.9B

Dec 2024$966M

Mar 2025$108M

Jun 2025$142M

Sep 2025$1.0B

Dec 2025$678M

Mar 2026$389M

Jun 2026$145M

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021$3.5B

Dec 2021$5.0B

Mar 2022$3.0B

Jun 2022$2.9B

Sep 2022$2.9B

Dec 2022$3.4B

Mar 2023$3.2B

Jun 2023$3.2B

Sep 2023$3.4B

Dec 2023$3.4B

Mar 2024$3.1B

Jun 2024$3.5B

Sep 2024$3.7B

Dec 2024$3.8B

Mar 2025$3.0B

Jun 2025$3.7B

Sep 2025$3.8B

Dec 2025$3.9B

Mar 2026$3.6B

Jun 2026$4.3B

Revolution Medicines, Inc. · RVMD

Sep 2021$1M

Dec 2021$9M

Mar 2022$8M

Jun 2022$9M

Sep 2022$3M

Dec 2022$15M

Mar 2023$7M

Jun 2023$4M

Sep 2023$0M

Dec 2023$1M

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Roivant Sciences Ltd. · ROIV

Sep 2021$14M

Dec 2021$24M

Mar 2022$9M

Jun 2022$4M

Sep 2022$13M

Dec 2022$17M

Mar 2023—

Jun 2023$4M

Sep 2023$4M

Dec 2023$16M

Mar 2024$9M

Jun 2024$8M

Sep 2024$4M

Dec 2024$9M

Mar 2025$8M

Jun 2025$2M

Sep 2025$2M

Dec 2025$2M

Mar 2026$3M

Jun 2026$1M

Royalty Pharma plc · RPRX

Sep 2021$586M

Dec 2021$576M

Mar 2022$562M

Jun 2022$536M

Sep 2022$573M

Dec 2022$566M

Mar 2023$684M

Jun 2023$538M

Sep 2023$536M

Dec 2023$596M

Mar 2024$568M

Jun 2024$537M

Sep 2024$565M

Dec 2024$594M

Mar 2025$568M

Jun 2025$579M

Sep 2025$609M

Dec 2025$622M

Mar 2026$631M

Jun 2026$674M

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021$2.0B

Dec 2021$2.1B

Mar 2022$2.1B

Jun 2022$2.2B

Sep 2022$2.3B

Dec 2022$2.3B

Mar 2023$2.4B

Jun 2023$2.5B

Sep 2023$2.5B

Dec 2023$7.4B

Mar 2024$2.7B

Jun 2024$2.6B

Sep 2024$2.8B

Dec 2024$2.9B

Mar 2025$2.8B

Jun 2025$3.0B

Sep 2025$3.1B

Dec 2025$3.2B

Mar 2026$3.0B

Jun 2026$3.3B

Revenue growth · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20221.8%

Sep 202240%

Dec 202229%

Mar 202350%

Jun 202342%

Sep 2023184%

Dec 202331%

Mar 202455%

Jun 2024107%

Sep 2024-33%

Dec 202435%

Mar 202520%

Jun 202517%

Sep 2025149%

Dec 202585%

Mar 202696%

Jun 202667%

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-73%

Sep 20221,986%

Dec 2022435%

Mar 2023642%

Jun 2023231%

Sep 2023133%

Dec 2023130%

Mar 202480%

Jun 202474%

Sep 202473%

Dec 202482%

Mar 202595%

Jun 202598%

Sep 202595%

Dec 202574%

Mar 202663%

Jun 202659%

BeOne Medicines AG · ONC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022128%

Sep 202288%

Dec 202278%

Mar 202346%

Jun 202374%

Sep 2023101%

Dec 202366%

Mar 202468%

Jun 202456%

Sep 202428%

Dec 202479%

Mar 202549%

Jun 202542%

Sep 202541%

Dec 202533%

Mar 202635%

Jun 202630%

BioNTech SE · BNTX

Sep 2021—

Dec 20211,504%

Mar 2022—

Jun 2022—

Sep 2022-43%

Dec 2022-23%

Mar 2023-80%

Jun 2023-95%

Sep 2023-74%

Dec 2023-65%

Mar 2024-85%

Jun 2024-23%

Sep 202439%

Dec 2024-20%

Mar 2025-2.7%

Jun 2025102%

Sep 202522%

Dec 2025-24%

Mar 2026-36%

Jun 2026-59%

Incyte Corporation · INCY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202229%

Sep 20221.2%

Dec 20227.4%

Mar 202310%

Jun 20234.8%

Sep 202312%

Dec 20239.3%

Mar 20248.9%

Jun 20249.3%

Sep 202424%

Dec 202416%

Mar 202520%

Jun 202516%

Sep 202520%

Dec 202528%

Mar 202621%

Jun 202638%

Insmed Incorporated · INSM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202244%

Sep 202245%

Dec 20225.4%

Mar 202323%

Jun 202318%

Sep 202316%

Dec 202342%

Mar 202417%

Jun 202417%

Sep 202418%

Dec 202424%

Mar 202522%

Jun 202519%

Sep 202553%

Dec 2025154%

Mar 2026229%

Jun 2026297%

Moderna, Inc. · MRNA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20229.1%

Sep 2022-32%

Dec 2022-30%

Mar 2023-69%

Jun 2023-93%

Sep 2023-46%

Dec 2023-45%

Mar 2024-91%

Jun 2024-30%

Sep 20241.7%

Dec 2024-66%

Mar 2025-35%

Jun 2025-41%

Sep 2025-45%

Dec 2025-30%

Mar 2026260%

Jun 20262.1%

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-44%

Sep 2022-15%

Dec 2022-31%

Mar 20236.6%

Jun 202311%

Sep 202315%

Dec 20230.6%

Mar 2024-0.5%

Jun 202412%

Sep 202411%

Dec 202410%

Mar 2025-3.7%

Jun 20253.6%

Sep 20250.9%

Dec 20252.5%

Mar 202619%

Jun 202617%

Revolution Medicines, Inc. · RVMD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20220.0%

Sep 2022200%

Dec 202267%

Mar 2023-13%

Jun 2023-56%

Sep 2023-100%

Dec 2023-93%

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-50%

Sep 2022-7.1%

Dec 2022-29%

Mar 2023—

Jun 20230.0%

Sep 2023-69%

Dec 2023-5.9%

Mar 2024—

Jun 2024100%

Sep 20240.0%

Dec 2024-44%

Mar 2025-11%

Jun 2025-75%

Sep 2025-50%

Dec 2025-78%

Mar 2026-63%

Jun 2026-50%

Royalty Pharma plc · RPRX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-3.4%

Sep 2022-2.2%

Dec 2022-1.7%

Mar 202322%

Jun 20230.4%

Sep 2023-6.5%

Dec 20235.3%

Mar 2024-17%

Jun 2024-0.2%

Sep 20245.4%

Dec 2024-0.3%

Mar 20250.0%

Jun 20257.8%

Sep 20257.8%

Dec 20254.7%

Mar 202611%

Jun 202616%

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202222%

Sep 202218%

Dec 202211%

Mar 202313%

Jun 202314%

Sep 20236.4%

Dec 2023221%

Mar 202413%

Jun 20246.1%

Sep 202412%

Dec 2024-61%

Mar 20252.9%

Jun 202512%

Sep 202511%

Dec 20259.6%

Mar 20267.8%

Jun 202612%

06 · compare level, then change

Operating Economics & Margin Trend

Halozyme Therapeutics, Inc. has the highest OPM among the 30 Biotechnology companies compared here, at 49%. Krystal Biotech, Inc. is next at 46.1%. Cytokinetics, Incorporated has the highest Margin change at +8907.6 percentage points, so level and change sit with different companies. 25 of 30 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Halozyme Therapeutics, Inc. leads opm at 49%; Cytokinetics, Incorporated leads margin change at +8907.6 percentage points.

LeaderHalozyme Therapeutics, Inc. · 49%

Gap6.3% versus #2 · Krystal Biotech, Inc.

Persistence6/8 recent comparable periods

Coverage25/30 companies · 425 observations

Investor read: Halozyme Therapeutics, Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Halozyme Therapeutics, Inc. HALO49%

2Krystal Biotech, Inc. KRYS46%

3Incyte Corporation INCY42%

4Exelixis, Inc. EXEL41%

5Vertex Pharmaceuticals Incorporated VRTX37%

Margin changefastest expanders

1Cytokinetics, Incorporated CYTK+8,907.6 pp

2Insmed Incorporated INSM+212.6 pp

3Ascendis Pharma A/S ASND+113.3 pp

4Kymera Therapeutics, Inc. KYMR+91.9 pp

5Moderna, Inc. MRNA+80.8 pp

Operating margin · company comparison

25/30 level · 27/30 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Halozyme Therapeutics, Inc. HALO	49%	−4.4 pp	Mar 2026
Krystal Biotech, Inc. KRYS	46%	+5.0 pp	Mar 2026
Incyte Corporation INCY	42%	+16.3 pp	Jun 2026
Exelixis, Inc. EXEL	41%	+7.5 pp	Jun 2026
Vertex Pharmaceuticals Incorporated VRTX	37%	−1.4 pp	Jun 2026
argenx SE ARGX	32%	+11.2 pp	Jun 2026
Jazz Pharmaceuticals plc JAZZ	32%	+37.7 pp	Mar 2026
Regeneron Pharmaceuticals, Inc. REGN	30%	+0.7 pp	Jun 2026
Bio-Techne Corporation TECH	24%	+12.0 pp	Mar 2026
Genmab A/S GMAB	20%	−6.2 pp	Mar 2026
Royalty Pharma plc RPRX	20%	−16.6 pp	Jun 2026
BeOne Medicines AG ONC	19%	+12.4 pp	Jun 2026
Alnylam Pharmaceuticals, Inc. ALNY	18%	+20.0 pp	Jun 2026
BioMarin Pharmaceutical Inc. BMRN	17%	−13.1 pp	Mar 2026
Ascendis Pharma A/S ASND	10%	+113.3 pp	Mar 2026
Insmed Incorporated INSM	-24%	+212.6 pp	Jun 2026
Madrigal Pharmaceuticals, Inc. MDGL	-30%	+28.0 pp	Jun 2026
Corcept Therapeutics Incorporated CORT	-30%	−32.3 pp	Jun 2026
Axsome Therapeutics, Inc. AXSM	-33%	+13.8 pp	Mar 2026
BridgeBio Pharma, Inc. BBIO	-55%	+35.0 pp	Mar 2026
Arrowhead Pharmaceuticals, Inc. ARWR	-192%	−261.8 pp	Mar 2026
Kymera Therapeutics, Inc. KYMR	-245%	+91.9 pp	Mar 2026
Revolution Medicines, Inc. RVMD	-403%	−23,854.0 pp	Jun 2026
Moderna, Inc. MRNA	-558%	+80.8 pp	Jun 2026
BioNTech SE BNTX	-807%	−641.6 pp	Jun 2026
Roivant Sciences Ltd. ROIV	-945%	−12,375.3 pp	Jun 2026
Cytokinetics, Incorporated CYTK	-949%	+8,907.6 pp	Mar 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021-97%

Dec 2021-75%

Mar 2022-69%

Jun 2022-85%

Sep 2022-98%

Dec 2022-56%

Mar 2023-47%

Jun 2023-72%

Sep 202329%

Dec 2023-27%

Mar 2024-8.8%

Jun 20247.4%

Sep 2024-15%

Dec 2024-18%

Mar 20253.0%

Jun 2025-2.1%

Sep 202530%

Dec 202512%

Mar 202623%

Jun 202618%

argenx SE · ARGX

Sep 2021—

Dec 2021-686%

Mar 2022-708%

Jun 2022-205%

Sep 2022-142%

Dec 2022-63%

Mar 2023-45%

Jun 2023-36%

Sep 2023-24%

Dec 2023-33%

Mar 2024-23%

Jun 2024-9.3%

Sep 20242.4%

Dec 202414%

Mar 202517%

Jun 202521%

Sep 202530%

Dec 202528%

Mar 202630%

Jun 202632%

BeOne Medicines AG · ONC

Sep 2021-224%

Dec 2021-267%

Mar 2022-145%

Jun 2022-129%

Sep 2022-113%

Dec 2022-123%

Mar 2023-83%

Jun 2023-54%

Sep 2023-17%

Dec 2023-61%

Mar 2024-35%

Jun 2024-12%

Sep 2024-12%

Dec 2024-7.0%

Mar 20251.0%

Jun 20256.7%

Sep 202512%

Dec 202512%

Mar 202617%

Jun 202619%

BioNTech SE · BNTX

Sep 202175%

Dec 202179%

Mar 202273%

Jun 202253%

Sep 202256%

Dec 202286%

Mar 202361%

Jun 2023-292%

Sep 20235.9%

Dec 202368%

Mar 2024-268%

Jun 2024-747%

Sep 20241.7%

Dec 202413%

Mar 2025-293%

Jun 2025-165%

Sep 2025-2.2%

Dec 2025-33%

Mar 2026-577%

Jun 2026-807%

Incyte Corporation · INCY

Sep 202129%

Dec 202113%

Mar 202217%

Jun 202228%

Sep 202214%

Dec 202210%

Mar 20233.9%

Jun 202321%

Sep 202323%

Dec 202320%

Mar 202411%

Jun 2024-43%

Sep 202415%

Dec 202423%

Mar 202521%

Jun 202526%

Sep 202532%

Dec 202526%

Mar 202626%

Jun 202642%

Insmed Incorporated · INSM

Sep 2021-204%

Dec 2021-177%

Mar 2022-191%

Jun 2022-155%

Sep 2022-181%

Dec 2022-259%

Mar 2023-242%

Jun 2023-288%

Sep 2023-175%

Dec 2023-194%

Mar 2024-209%

Jun 2024-205%

Sep 2024-213%

Dec 2024-235%

Mar 2025-248%

Jun 2025-236%

Sep 2025-184%

Dec 2025-95%

Mar 2026-66%

Jun 2026-24%

Moderna, Inc. · MRNA

Sep 202172%

Dec 202175%

Mar 202270%

Jun 202252%

Sep 202235%

Dec 202231%

Mar 2023-20%

Jun 2023-543%

Sep 2023-110%

Dec 20230.2%

Mar 2024-758%

Jun 2024-566%

Sep 2024-3.8%

Dec 2024-129%

Mar 2025-972%

Jun 2025-639%

Sep 2025-26%

Dec 2025-126%

Mar 2026-131%

Jun 2026-558%

Regeneron Pharmaceuticals, Inc. · REGN

Sep 202154%

Dec 202153%

Mar 202242%

Jun 202239%

Sep 202242%

Dec 202234%

Mar 202330%

Jun 202332%

Sep 202333%

Dec 202328%

Mar 202424%

Jun 202430%

Sep 202432%

Dec 202426%

Mar 202520%

Jun 202529%

Sep 202527%

Dec 202523%

Mar 202618%

Jun 202630%

Revolution Medicines, Inc. · RVMD

Sep 2021—

Dec 2021-559%

Mar 2022-765%

Jun 2022-681%

Sep 2022—

Dec 2022-403%

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021-945%

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Royalty Pharma plc · RPRX

Sep 202152%

Dec 202127%

Mar 202239%

Jun 202271%

Sep 202234%

Dec 2022-85%

Mar 202370%

Jun 202346%

Sep 202328%

Dec 2023103%

Mar 2024-13%

Jun 202450%

Sep 2024130%

Dec 202461%

Mar 202594%

Jun 202536%

Sep 202570%

Dec 202562%

Mar 202689%

Jun 202620%

Vertex Pharmaceuticals Incorporated · VRTX

Sep 202153%

Dec 202142%

Mar 202250%

Jun 202250%

Sep 202248%

Dec 202245%

Mar 202333%

Jun 202341%

Sep 202342%

Dec 202313%

Mar 202442%

Jun 2024-133%

Sep 202440%

Dec 202435%

Mar 202523%

Jun 202539%

Sep 202539%

Dec 202538%

Mar 202638%

Jun 202637%

Margin change · reported quarter history

Showing the 12 largest of 27 companies with a series here. The remaining 15 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−19.0 pp

Sep 2022−0.8 pp

Dec 2022+19.0 pp

Mar 2023+21.9 pp

Jun 2023+13.2 pp

Sep 2023+126.1 pp

Dec 2023+29.8 pp

Mar 2024+38.1 pp

Jun 2024+79.5 pp

Sep 2024−43.9 pp

Dec 2024+8.8 pp

Mar 2025+11.8 pp

Jun 2025−9.5 pp

Sep 2025+44.9 pp

Dec 2025+29.7 pp

Mar 2026+20.0 pp

Jun 2026+20.0 pp

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−234.6 pp

Sep 2022+2,854.9 pp

Dec 2022+622.7 pp

Mar 2023+662.4 pp

Jun 2023+168.6 pp

Sep 2023+118.7 pp

Dec 2023+29.6 pp

Mar 2024+22.5 pp

Jun 2024+27.0 pp

Sep 2024+26.1 pp

Dec 2024+46.7 pp

Mar 2025+39.8 pp

Jun 2025+30.1 pp

Sep 2025+27.7 pp

Dec 2025+14.3 pp

Mar 2026+12.8 pp

Jun 2026+11.2 pp

BeOne Medicines AG · ONC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+188.0 pp

Sep 2022+110.9 pp

Dec 2022+143.9 pp

Mar 2023+61.7 pp

Jun 2023+75.1 pp

Sep 2023+96.0 pp

Dec 2023+62.4 pp

Mar 2024+48.1 pp

Jun 2024+42.0 pp

Sep 2024+5.1 pp

Dec 2024+53.9 pp

Mar 2025+35.8 pp

Jun 2025+18.2 pp

Sep 2025+23.5 pp

Dec 2025+19.4 pp

Mar 2026+15.5 pp

Jun 2026+12.4 pp

BioNTech SE · BNTX

Sep 2021—

Dec 2021+8.5 pp

Mar 2022—

Jun 2022—

Sep 2022−18.5 pp

Dec 2022+6.3 pp

Mar 2023−11.6 pp

Jun 2023−344.7 pp

Sep 2023−50.1 pp

Dec 2023−17.5 pp

Mar 2024−329.2 pp

Jun 2024−455.6 pp

Sep 2024−4.2 pp

Dec 2024−54.7 pp

Mar 2025−24.6 pp

Jun 2025+582.3 pp

Sep 2025−3.9 pp

Dec 2025−46.6 pp

Mar 2026−283.8 pp

Jun 2026−641.6 pp

Incyte Corporation · INCY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+8.4 pp

Sep 2022−15.1 pp

Dec 2022−2.7 pp

Mar 2023−13.0 pp

Jun 2023−7.2 pp

Sep 2023+9.2 pp

Dec 2023+9.7 pp

Mar 2024+6.6 pp

Jun 2024−63.8 pp

Sep 2024−8.4 pp

Dec 2024+2.7 pp

Mar 2025+10.2 pp

Jun 2025+68.2 pp

Sep 2025+16.6 pp

Dec 2025+2.9 pp

Mar 2026+4.9 pp

Jun 2026+16.3 pp

Insmed Incorporated · INSM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+40.4 pp

Sep 2022+23.1 pp

Dec 2022−81.3 pp

Mar 2023−50.8 pp

Jun 2023−132.7 pp

Sep 2023+5.4 pp

Dec 2023+64.3 pp

Mar 2024+33.3 pp

Jun 2024+82.5 pp

Sep 2024−37.3 pp

Dec 2024−40.6 pp

Mar 2025−39.1 pp

Jun 2025−31.4 pp

Sep 2025+29.1 pp

Dec 2025+140.2 pp

Mar 2026+182.1 pp

Jun 2026+212.6 pp

Moderna, Inc. · MRNA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−18.8 pp

Sep 2022−36.9 pp

Dec 2022−43.9 pp

Mar 2023−89.4 pp

Jun 2023−594.2 pp

Sep 2023−144.6 pp

Dec 2023−30.9 pp

Mar 2024−738.4 pp

Jun 2024−22.9 pp

Sep 2024+106.1 pp

Dec 2024−129.2 pp

Mar 2025−214.1 pp

Jun 2025−73.1 pp

Sep 2025−21.8 pp

Dec 2025+2.6 pp

Mar 2026+841.1 pp

Jun 2026+80.8 pp

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−26.3 pp

Sep 2022−11.8 pp

Dec 2022−19.7 pp

Mar 2023−12.5 pp

Jun 2023−6.6 pp

Sep 2023−8.7 pp

Dec 2023−5.3 pp

Mar 2024−6.0 pp

Jun 2024−2.0 pp

Sep 2024−1.3 pp

Dec 2024−2.2 pp

Mar 2025−4.4 pp

Jun 2025−0.8 pp

Sep 2025−4.3 pp

Dec 2025−3.4 pp

Mar 2026−1.7 pp

Jun 2026+0.7 pp

Revolution Medicines, Inc. · RVMD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−169.1 pp

Sep 2022+2,548.1 pp

Dec 2022+156.8 pp

Mar 2023−306.8 pp

Jun 2023−2,164.0 pp

Sep 2023—

Dec 2023−23,854.0 pp

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−4,540.5 pp

Sep 2022−886.3 pp

Dec 2022−699.4 pp

Mar 2023—

Jun 2023+2,137.6 pp

Sep 2023−3,240.6 pp

Dec 2023+451.0 pp

Mar 2024—

Jun 2024+1,846.6 pp

Sep 2024−1,965.3 pp

Dec 2024−1,728.7 pp

Mar 2025−2,643.8 pp

Jun 2025−10,480.6 pp

Sep 2025−11,149.3 pp

Dec 2025−14,043.6 pp

Mar 2026−9,851.3 pp

Jun 2026−12,375.3 pp

Royalty Pharma plc · RPRX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022−63.7 pp

Sep 2022−18.2 pp

Dec 2022−111.9 pp

Mar 2023+30.9 pp

Jun 2023−24.3 pp

Sep 2023−5.3 pp

Dec 2023+188.1 pp

Mar 2024−83.0 pp

Jun 2024+4.0 pp

Sep 2024+102.0 pp

Dec 2024−41.9 pp

Mar 2025+107.0 pp

Jun 2025−13.9 pp

Sep 2025−60.1 pp

Dec 2025+1.5 pp

Mar 2026−4.7 pp

Jun 2026−16.6 pp

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+52.5 pp

Sep 2022−4.8 pp

Dec 2022+2.6 pp

Mar 2023−16.8 pp

Jun 2023−9.2 pp

Sep 2023−6.5 pp

Dec 2023−31.5 pp

Mar 2024+9.6 pp

Jun 2024−174.1 pp

Sep 2024−1.5 pp

Dec 2024+21.8 pp

Mar 2025−19.7 pp

Jun 2025+171.7 pp

Sep 2025−1.7 pp

Dec 2025+2.6 pp

Mar 2026+15.4 pp

Jun 2026−1.4 pp

07 · compare level, then change

Profit Scale & Acceleration

Vertex Pharmaceuticals Incorporated has the highest Net profit among the 30 Biotechnology companies compared here, at $4,405 million. Regeneron Pharmaceuticals, Inc. is next at $4,329 million. Incyte Corporation has the highest Profit growth at 85.3%, so level and change sit with different companies. 26 of 30 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Vertex Pharmaceuticals Incorporated leads with $4,405 million of TTM profit, 1.8% above Regeneron Pharmaceuticals, Inc.. Incyte Corporation shows 85.3% growth from a $1,612 million profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderVertex Pharmaceuticals Incorporated · $4,405 million

Gap1.8% versus #2 · Regeneron Pharmaceuticals, Inc.

Persistence5/8 recent comparable periods

Coverage26/30 companies · 576 observations

Investor read: Vertex Pharmaceuticals Incorporated sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Vertex Pharmaceuticals Incorporated VRTX$4.4B

2Regeneron Pharmaceuticals, Inc. REGN$4.3B

3argenx SE ARGX$1.7B

4Incyte Corporation INCY$1.6B

5Royalty Pharma plc RPRX$1.3B

Profit growthfastest growers

1Incyte Corporation INCY85%

2Krystal Biotech, Inc. KRYS81%

3argenx SE ARGX34%

4Vertex Pharmaceuticals Incorporated VRTX21%

5Regeneron Pharmaceuticals, Inc. REGN-2.9%

Net profit · company comparison

26/30 level · 10/30 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Regeneron Pharmaceuticals, Inc. REGN	$1.3B	-6.8%	Jun 2026
Vertex Pharmaceuticals Incorporated VRTX	$1.1B	6.5%	Jun 2026
Ascendis Pharma A/S ASND	$629M	—	Mar 2026
Incyte Corporation INCY	$586M	45%	Jun 2026
argenx SE ARGX	$472M	93%	Jun 2026
Jazz Pharmaceuticals plc JAZZ	$293M	6.8%	Mar 2026
BeOne Medicines AG ONC	$237M	152%	Jun 2026
Exelixis, Inc. EXEL	$210M	31%	Jun 2026
Alnylam Pharmaceuticals, Inc. ALNY	$164M	-176%	Jun 2026
Halozyme Therapeutics, Inc. HALO	$150M	27%	Mar 2026
BioMarin Pharmaceutical Inc. BMRN	$106M	-43%	Mar 2026
Royalty Pharma plc RPRX	$81M	-13%	Jun 2026
Genmab A/S GMAB	$74M	-70%	Mar 2026
Krystal Biotech, Inc. KRYS	$56M	56%	Mar 2026
Bio-Techne Corporation TECH	$51M	122%	Mar 2026
Summit Therapeutics Inc. SMMT	$12M	50%	Jun 2026
Insmed Incorporated INSM	$-13M	—	Jun 2026
Corcept Therapeutics Incorporated CORT	$-32M	-252%	Jun 2026
Axsome Therapeutics, Inc. AXSM	$-65M	—	Mar 2026
Kymera Therapeutics, Inc. KYMR	$-69M	—	Mar 2026
Apogee Therapeutics, Inc. APGE	$-74M	—	Mar 2026
Madrigal Pharmaceuticals, Inc. MDGL	$-94M	—	Jun 2026
Nuvalent, Inc. NUVL	$-109M	—	Mar 2026
Arrowhead Pharmaceuticals, Inc. ARWR	$-138M	-138%	Mar 2026
BridgeBio Pharma, Inc. BBIO	$-167M	—	Mar 2026
Cytokinetics, Incorporated CYTK	$-206M	—	Mar 2026
Roivant Sciences Ltd. ROIV	$-291M	-366%	Jun 2026
Revolution Medicines, Inc. RVMD	$-644M	—	Jun 2026
Moderna, Inc. MRNA	$-782M	-1,638%	Jun 2026
BioNTech SE BNTX	$-821M	-217%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021$-205M

Dec 2021$-258M

Mar 2022$-240M

Jun 2022$-277M

Sep 2022$-406M

Dec 2022$-207M

Mar 2023$-174M

Jun 2023$-276M

Sep 2023$148M

Dec 2023$-138M

Mar 2024$-66M

Jun 2024$-17M

Sep 2024$-112M

Dec 2024$-84M

Mar 2025$-18M

Jun 2025$-72M

Sep 2025$251M

Dec 2025$186M

Mar 2026$206M

Jun 2026$164M

argenx SE · ARGX

Sep 2021$-234M

Dec 2021$-238M

Mar 2022$-227M

Jun 2022$-209M

Sep 2022$-235M

Dec 2022$-39M

Mar 2023$-29M

Jun 2023$-94M

Sep 2023$-73M

Dec 2023$-99M

Mar 2024$-62M

Jun 2024$29M

Sep 2024$91M

Dec 2024$774M

Mar 2025$169M

Jun 2025$245M

Sep 2025$344M

Dec 2025$533M

Mar 2026$366M

Jun 2026$472M

BeOne Medicines AG · ONC

Sep 2021$-438M

Dec 2021$-586M

Mar 2022$-434M

Jun 2022$-566M

Sep 2022$-558M

Dec 2022$-445M

Mar 2023$-348M

Jun 2023$-381M

Sep 2023$215M

Dec 2023$-5.7B

Mar 2024$-251M

Jun 2024$-120M

Sep 2024$-121M

Dec 2024$-152M

Mar 2025$1M

Jun 2025$94M

Sep 2025$125M

Dec 2025$67M

Mar 2026$227M

Jun 2026$237M

BioNTech SE · BNTX

Sep 2021$3.2B

Dec 2021$3.2B

Mar 2022$3.7B

Jun 2022$1.7B

Sep 2022$1.8B

Dec 2022$2.3B

Mar 2023$502M

Jun 2023$-190M

Sep 2023$161M

Dec 2023$458M

Mar 2024$-315M

Jun 2024$-808M

Sep 2024$198M

Dec 2024$260M

Mar 2025$-416M

Jun 2025$-387M

Sep 2025$-29M

Dec 2025$-305M

Mar 2026$-532M

Jun 2026$-821M

Incyte Corporation · INCY

Sep 2021$182M

Dec 2021$564M

Mar 2022$38M

Jun 2022$161M

Sep 2022$113M

Dec 2022$28M

Mar 2023$22M

Jun 2023$204M

Sep 2023$171M

Dec 2023$201M

Mar 2024$170M

Jun 2024$-445M

Sep 2024$106M

Dec 2024$201M

Mar 2025$158M

Jun 2025$405M

Sep 2025$424M

Dec 2025$299M

Mar 2026$303M

Jun 2026$586M

Insmed Incorporated · INSM

Sep 2021$-113M

Dec 2021$-113M

Mar 2022$-95M

Jun 2022$-96M

Sep 2022$-131M

Dec 2022$-160M

Mar 2023$-160M

Jun 2023$-245M

Sep 2023$-159M

Dec 2023$-186M

Mar 2024$-157M

Jun 2024$-301M

Sep 2024$-221M

Dec 2024$-236M

Mar 2025$-257M

Jun 2025$-322M

Sep 2025$-370M

Dec 2025$-328M

Mar 2026$-164M

Jun 2026$-13M

Moderna, Inc. · MRNA

Sep 2021$3.3B

Dec 2021$4.9B

Mar 2022$3.7B

Jun 2022$2.2B

Sep 2022$1.0B

Dec 2022$1.5B

Mar 2023$79M

Jun 2023$-1.4B

Sep 2023$-3.6B

Dec 2023$217M

Mar 2024$-1.2B

Jun 2024$-1.3B

Sep 2024$13M

Dec 2024$-1.1B

Mar 2025$-971M

Jun 2025$-825M

Sep 2025$-200M

Dec 2025$-826M

Mar 2026$-1.3B

Jun 2026$-782M

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021$1.6B

Dec 2021$2.2B

Mar 2022$974M

Jun 2022$852M

Sep 2022$1.3B

Dec 2022$1.2B

Mar 2023$818M

Jun 2023$968M

Sep 2023$1.0B

Dec 2023$1.2B

Mar 2024$722M

Jun 2024$1.4B

Sep 2024$1.3B

Dec 2024$918M

Mar 2025$809M

Jun 2025$1.4B

Sep 2025$1.5B

Dec 2025$845M

Mar 2026$727M

Jun 2026$1.3B

Revolution Medicines, Inc. · RVMD

Sep 2021$-53M

Dec 2021$-53M

Mar 2022$-58M

Jun 2022$-61M

Sep 2022$-73M

Dec 2022$-57M

Mar 2023$-68M

Jun 2023$-98M

Sep 2023$-108M

Dec 2023$-162M

Mar 2024$-116M

Jun 2024$-133M

Sep 2024$-156M

Dec 2024$-195M

Mar 2025$-213M

Jun 2025$-248M

Sep 2025$-305M

Dec 2025$-365M

Mar 2026$-454M

Jun 2026$-644M

Roivant Sciences Ltd. · ROIV

Sep 2021$-226M

Dec 2021$-306M

Mar 2022$-291M

Jun 2022$-354M

Sep 2022$-316M

Dec 2022$-385M

Mar 2023—

Jun 2023$-328M

Sep 2023$-331M

Dec 2023$5.1B

Mar 2024$-182M

Jun 2024$57M

Sep 2024$-280M

Dec 2024$118M

Mar 2025$-252M

Jun 2025$-274M

Sep 2025$-166M

Dec 2025$-314M

Mar 2026$356M

Jun 2026$-291M

Royalty Pharma plc · RPRX

Sep 2021$222M

Dec 2021$54M

Mar 2022$128M

Jun 2022$492M

Sep 2022$220M

Dec 2022$-610M

Mar 2023$509M

Jun 2023$351M

Sep 2023$122M

Dec 2023$718M

Mar 2024$-4M

Jun 2024$194M

Sep 2024$806M

Dec 2024$334M

Mar 2025$434M

Jun 2025$93M

Sep 2025$444M

Dec 2025$356M

Mar 2026$468M

Jun 2026$81M

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021$852M

Dec 2021$770M

Mar 2022$762M

Jun 2022$811M

Sep 2022$931M

Dec 2022$819M

Mar 2023$700M

Jun 2023$916M

Sep 2023$1.0B

Dec 2023$969M

Mar 2024$1.1B

Jun 2024$-3.6B

Sep 2024$1.0B

Dec 2024$913M

Mar 2025$646M

Jun 2025$1.0B

Sep 2025$1.1B

Dec 2025$1.2B

Mar 2026$1.0B

Jun 2026$1.1B

Profit growth · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024-176%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-301%

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025745%

Sep 2025278%

Dec 2025-31%

Mar 2026117%

Jun 202693%

BeOne Medicines AG · ONC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024-156%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026152%

BioNTech SE · BNTX

Sep 2021—

Dec 2021763%

Mar 2022—

Jun 2022—

Sep 2022-44%

Dec 2022-28%

Mar 2023-86%

Jun 2023-111%

Sep 2023-91%

Dec 2023-80%

Mar 2024-163%

Jun 2024—

Sep 202423%

Dec 2024-43%

Mar 2025—

Jun 2025—

Sep 2025-115%

Dec 2025-217%

Mar 2026—

Jun 2026—

Genmab A/S · GMAB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022443%

Sep 2022145%

Dec 202241%

Mar 2023-55%

Jun 2023-26%

Sep 2023-12%

Dec 202320%

Mar 2024519%

Jun 20243.6%

Sep 2024-38%

Dec 2024178%

Mar 202527%

Jun 202566%

Sep 2025116%

Dec 2025-88%

Mar 2026-70%

Jun 2026—

Incyte Corporation · INCY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20228.1%

Sep 2022-38%

Dec 2022-95%

Mar 2023-42%

Jun 202327%

Sep 202351%

Dec 2023618%

Mar 2024673%

Jun 2024-318%

Sep 2024-38%

Dec 20240.0%

Mar 2025-7.1%

Jun 2025—

Sep 2025300%

Dec 202549%

Mar 202692%

Jun 202645%

Jazz Pharmaceuticals plc · JAZZ

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20231,067%

Jun 2023186%

Sep 2023—

Dec 2023—

Mar 2024-119%

Jun 202459%

Sep 202446%

Dec 2024101%

Mar 2025—

Jun 2025-525%

Sep 202517%

Dec 20256.8%

Mar 2026—

Jun 2026—

Moderna, Inc. · MRNA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-21%

Sep 2022-69%

Dec 2022-70%

Mar 2023-98%

Jun 2023-163%

Sep 2023-448%

Dec 2023-85%

Mar 2024-1,587%

Jun 2024—

Sep 2024—

Dec 2024-616%

Mar 2025—

Jun 2025—

Sep 2025-1,638%

Dec 2025—

Mar 2026—

Jun 2026—

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-73%

Sep 2022-19%

Dec 2022-46%

Mar 2023-16%

Jun 202314%

Sep 2023-23%

Dec 2023-3.1%

Mar 2024-12%

Jun 202448%

Sep 202433%

Dec 2024-21%

Mar 202512%

Jun 2025-2.8%

Sep 20258.9%

Dec 2025-8.0%

Mar 2026-10%

Jun 2026-6.8%

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-98%

Mar 2025—

Jun 2025-581%

Sep 2025—

Dec 2025-366%

Mar 2026—

Jun 2026—

Royalty Pharma plc · RPRX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-39%

Sep 2022-0.9%

Dec 2022-1,230%

Mar 2023298%

Jun 2023-29%

Sep 2023-45%

Dec 2023—

Mar 2024-101%

Jun 2024-45%

Sep 2024561%

Dec 2024-53%

Mar 2025—

Jun 2025-52%

Sep 2025-45%

Dec 20256.6%

Mar 20267.8%

Jun 2026-13%

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 20221,110%

Sep 20229.3%

Dec 20226.4%

Mar 2023-8.1%

Jun 202313%

Sep 202311%

Dec 202318%

Mar 202457%

Jun 2024-492%

Sep 20241.0%

Dec 2024-5.8%

Mar 2025-41%

Jun 2025—

Sep 20253.6%

Dec 202530%

Mar 202660%

Jun 20266.5%

08 · compare level, then change

Return On Capital Employed

Summit Therapeutics Inc. has the highest ROCE among the 30 Biotechnology companies compared here, at 48.3%. Incyte Corporation is next at 28.1%. Ascendis Pharma A/S has the highest ROCE change at +120.8 percentage points, so level and change sit with different companies. 30 of 30 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Summit Therapeutics Inc. leads ROCE at 48.3%, 20.2 percentage points above Incyte Corporation. Ascendis Pharma A/S has the strongest latest improvement at +120.8 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderSummit Therapeutics Inc. · 48.3%

Gap71.9% versus #2 · Incyte Corporation

Persistence6/8 recent comparable periods

Coverage30/30 companies · 577 observations

Investor read: Summit Therapeutics Inc. sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Summit Therapeutics Inc. SMMT48%

2Incyte Corporation INCY28%

3Exelixis, Inc. EXEL11%

4Halozyme Therapeutics, Inc. HALO8.5%

5argenx SE ARGX6.8%

ROCE changefastest improvers

1Ascendis Pharma A/S ASND+120.8 pp

2Alnylam Pharmaceuticals, Inc. ALNY+6.8 pp

3Incyte Corporation INCY+6.8 pp

4Jazz Pharmaceuticals plc JAZZ+4.0 pp

5BeOne Medicines AG ONC+3.6 pp

Return on capital · company comparison

30/30 level · 30/30 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Summit Therapeutics Inc. SMMT	48%	−196.0 pp	Jun 2026
Incyte Corporation INCY	28%	+6.8 pp	Jun 2026
Exelixis, Inc. EXEL	11%	+3.1 pp	Jun 2026
Halozyme Therapeutics, Inc. HALO	8.5%	+1.0 pp	Mar 2026
argenx SE ARGX	6.8%	+2.9 pp	Jun 2026
Alnylam Pharmaceuticals, Inc. ALNY	6.3%	+6.8 pp	Jun 2026
Corcept Therapeutics Incorporated CORT	5.9%	+1.7 pp	Jun 2026
BeOne Medicines AG ONC	5.8%	+3.6 pp	Jun 2026
Vertex Pharmaceuticals Incorporated VRTX	5.7%	−0.6 pp	Jun 2026
Ascendis Pharma A/S ASND	4.7%	+120.8 pp	Mar 2026
Krystal Biotech, Inc. KRYS	4.7%	+0.7 pp	Mar 2026
Regeneron Pharmaceuticals, Inc. REGN	3.7%	+0.5 pp	Jun 2026
Jazz Pharmaceuticals plc JAZZ	3.4%	+4.0 pp	Mar 2026
Bio-Techne Corporation TECH	3.1%	+1.6 pp	Mar 2026
Genmab A/S GMAB	2.1%	−1.4 pp	Mar 2026
BioMarin Pharmaceutical Inc. BMRN	1.8%	−1.8 pp	Mar 2026
Royalty Pharma plc RPRX	0.7%	−0.5 pp	Jun 2026
Madrigal Pharmaceuticals, Inc. MDGL	-6.7%	−1.4 pp	Jun 2026
Kymera Therapeutics, Inc. KYMR	-6.8%	+2.1 pp	Mar 2026
Apogee Therapeutics, Inc. APGE	-8.5%	0.0 pp	Mar 2026
Arrowhead Pharmaceuticals, Inc. ARWR	-8.5%	−42.5 pp	Mar 2026
BioNTech SE BNTX	-10%	−6.2 pp	Jun 2026
Nuvalent, Inc. NUVL	-11%	+0.6 pp	Mar 2026
Revolution Medicines, Inc. RVMD	-16%	−2.9 pp	Jun 2026
BridgeBio Pharma, Inc. BBIO	-17%	−2.0 pp	Mar 2026
Cytokinetics, Incorporated CYTK	-17%	+0.2 pp	Mar 2026
Axsome Therapeutics, Inc. AXSM	-20%	−5.1 pp	Mar 2026
Roivant Sciences Ltd. ROIV	-27%	−1.9 pp	Jun 2026
Moderna, Inc. MRNA	-29%	+2.5 pp	Jun 2026
Insmed Incorporated INSM	-49%	−6.0 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021-6.4%

Dec 2021-6.7%

Mar 2022-5.3%

Jun 2022-6.8%

Sep 2022-9.2%

Dec 2022-6.6%

Mar 2023-5.4%

Jun 2023-8.7%

Sep 20237.6%

Dec 2023-4.1%

Mar 2024-1.6%

Jun 20241.7%

Sep 2024-2.6%

Dec 2024-3.6%

Mar 20250.6%

Jun 2025-0.5%

Sep 202512%

Dec 20254.0%

Mar 20267.8%

Jun 20266.3%

argenx SE · ARGX

Sep 2021-9.5%

Dec 2021-10%

Mar 2022-7.5%

Jun 2022-5.9%

Sep 2022-7.8%

Dec 2022-4.3%

Mar 2023-3.5%

Jun 2023-3.5%

Sep 2023-2.3%

Dec 2023-4.0%

Mar 2024-2.6%

Jun 2024-1.3%

Sep 20240.3%

Dec 20242.1%

Mar 20252.7%

Jun 20253.9%

Sep 20255.4%

Dec 20255.7%

Mar 20265.4%

Jun 20266.8%

BeOne Medicines AG · ONC

Sep 2021-10%

Dec 2021-10%

Mar 2022-7.8%

Jun 2022-8.6%

Sep 2022-9.4%

Dec 2022-7.9%

Mar 2023-6.5%

Jun 2023-6.2%

Sep 2023-2.8%

Dec 2023-8.6%

Mar 2024-6.2%

Jun 2024-2.6%

Sep 2024-3.0%

Dec 2024-2.1%

Mar 20250.3%

Jun 20252.2%

Sep 20253.6%

Dec 20253.7%

Mar 20264.7%

Jun 20265.8%

BioNTech SE · BNTX

Sep 2021111%

Dec 2021119%

Mar 2022108%

Jun 202288%

Sep 202268%

Dec 202259%

Mar 202339%

Jun 202329%

Sep 202320%

Dec 20236.4%

Mar 20240.3%

Jun 2024-2.1%

Sep 2024-2.2%

Dec 2024-6.4%

Mar 2025-6.7%

Jun 2025-4.0%

Sep 2025-4.4%

Dec 2025-6.6%

Mar 2026-7.5%

Jun 2026-10%

Incyte Corporation · INCY

Sep 202119%

Dec 202115%

Mar 202215%

Jun 202217%

Sep 202214%

Dec 202213%

Mar 202311%

Jun 20238.8%

Sep 202310%

Dec 202312%

Mar 202412%

Jun 20242.0%

Sep 20240.6%

Dec 20242.2%

Mar 20255.2%

Jun 202521%

Sep 202525%

Dec 202525%

Mar 202625%

Jun 202628%

Insmed Incorporated · INSM

Sep 2021-30%

Dec 2021-33%

Mar 2022-37%

Jun 2022-42%

Sep 2022-50%

Dec 2022-33%

Mar 2023-40%

Jun 2023-53%

Sep 2023-60%

Dec 2023-62%

Mar 2024-92%

Jun 2024-50%

Sep 2024-39%

Dec 2024-46%

Mar 2025-55%

Jun 2025-43%

Sep 2025-51%

Dec 2025-55%

Mar 2026-56%

Jun 2026-49%

Moderna, Inc. · MRNA

Sep 202169%

Dec 202186%

Mar 202289%

Jun 202281%

Sep 202269%

Dec 202245%

Mar 202323%

Jun 20232.7%

Sep 2023-18%

Dec 2023-28%

Mar 2024-36%

Jun 2024-35%

Sep 2024-20%

Dec 2024-33%

Mar 2025-34%

Jun 2025-31%

Sep 2025-33%

Dec 2025-30%

Mar 2026-28%

Jun 2026-29%

Regeneron Pharmaceuticals, Inc. · REGN

Sep 202111%

Dec 202115%

Mar 20226.6%

Jun 20225.3%

Sep 20225.5%

Dec 20224.8%

Mar 20233.8%

Jun 20233.9%

Sep 20234.2%

Dec 20233.5%

Mar 20242.6%

Jun 20243.6%

Sep 20243.8%

Dec 20243.1%

Mar 20251.8%

Jun 20253.2%

Sep 20253.0%

Dec 20252.5%

Mar 20261.8%

Jun 20263.7%

Revolution Medicines, Inc. · RVMD

Sep 2021-8.6%

Dec 2021-8.8%

Mar 2022-8.3%

Jun 2022-9.6%

Sep 2022-11%

Dec 2022-8.6%

Mar 2023-9.1%

Jun 2023-14%

Sep 2023-15%

Dec 2023-14%

Mar 2024-9.9%

Jun 2024-12%

Sep 2024-14%

Dec 2024-10%

Mar 2025-12%

Jun 2025-13%

Sep 2025-17%

Dec 2025-16%

Mar 2026-21%

Jun 2026-16%

Roivant Sciences Ltd. · ROIV

Sep 2021-20%

Dec 2021-20%

Mar 2022-34%

Jun 2022-42%

Sep 2022-52%

Dec 2022-55%

Mar 2023—

Jun 2023-40%

Sep 2023-38%

Dec 2023-8.2%

Mar 2024-11%

Jun 2024-13%

Sep 2024-16%

Dec 2024-18%

Mar 2025-22%

Jun 2025-25%

Sep 2025-24%

Dec 2025-25%

Mar 2026-24%

Jun 2026-27%

Royalty Pharma plc · RPRX

Sep 20211.8%

Dec 20210.9%

Mar 20221.3%

Jun 20222.2%

Sep 20221.1%

Dec 2022-2.9%

Mar 20232.9%

Jun 20231.5%

Sep 20230.9%

Dec 20233.8%

Mar 2024-0.5%

Jun 20241.6%

Sep 20244.5%

Dec 20242.2%

Mar 20253.3%

Jun 20251.2%

Sep 20252.4%

Dec 20252.2%

Mar 20263.2%

Jun 20260.7%

Vertex Pharmaceuticals Incorporated · VRTX

Sep 202111%

Dec 20218.3%

Mar 20229.4%

Jun 20229.5%

Sep 20229.1%

Dec 20227.7%

Mar 20235.6%

Jun 20236.8%

Sep 20236.4%

Dec 20235.7%

Mar 20246.3%

Jun 2024-21%

Sep 20246.1%

Dec 20245.4%

Mar 20253.2%

Jun 20256.3%

Sep 20256.1%

Dec 20255.9%

Mar 20265.5%

Jun 20265.7%

ROCE change · reported quarter history

Showing the 12 largest of 30 companies with a series here. The remaining 18 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.8 pp

Dec 2022+0.1 pp

Mar 2023−0.1 pp

Jun 2023−1.9 pp

Sep 2023+16.8 pp

Dec 2023+2.5 pp

Mar 2024+3.8 pp

Jun 2024+10.4 pp

Sep 2024−10.2 pp

Dec 2024+0.5 pp

Mar 2025+2.2 pp

Jun 2025−2.2 pp

Sep 2025+14.3 pp

Dec 2025+7.6 pp

Mar 2026+7.2 pp

Jun 2026+6.8 pp

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.7 pp

Dec 2022+6.0 pp

Mar 2023+4.0 pp

Jun 2023+2.4 pp

Sep 2023+5.5 pp

Dec 2023+0.3 pp

Mar 2024+0.9 pp

Jun 2024+2.2 pp

Sep 2024+2.6 pp

Dec 2024+6.1 pp

Mar 2025+5.3 pp

Jun 2025+5.2 pp

Sep 2025+5.1 pp

Dec 2025+3.6 pp

Mar 2026+2.7 pp

Jun 2026+2.9 pp

BeOne Medicines AG · ONC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.0 pp

Dec 2022+2.1 pp

Mar 2023+1.3 pp

Jun 2023+2.4 pp

Sep 2023+6.6 pp

Dec 2023−0.7 pp

Mar 2024+0.3 pp

Jun 2024+3.6 pp

Sep 2024−0.2 pp

Dec 2024+6.5 pp

Mar 2025+6.5 pp

Jun 2025+4.8 pp

Sep 2025+6.6 pp

Dec 2025+5.8 pp

Mar 2026+4.4 pp

Jun 2026+3.6 pp

BioNTech SE · BNTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−43.1 pp

Dec 2022−60.4 pp

Mar 2023−68.4 pp

Jun 2023−59.6 pp

Sep 2023−48.0 pp

Dec 2023−52.2 pp

Mar 2024−39.0 pp

Jun 2024−30.9 pp

Sep 2024−21.8 pp

Dec 2024−12.8 pp

Mar 2025−7.0 pp

Jun 2025−1.9 pp

Sep 2025−2.2 pp

Dec 2025−0.2 pp

Mar 2026−0.8 pp

Jun 2026−6.2 pp

Incyte Corporation · INCY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.3 pp

Dec 2022−2.0 pp

Mar 2023−4.3 pp

Jun 2023−7.9 pp

Sep 2023−3.3 pp

Dec 2023−0.9 pp

Mar 2024+1.9 pp

Jun 2024−6.8 pp

Sep 2024−9.7 pp

Dec 2024−9.6 pp

Mar 2025−7.2 pp

Jun 2025+19.3 pp

Sep 2025+24.0 pp

Dec 2025+22.5 pp

Mar 2026+19.7 pp

Jun 2026+6.8 pp

Insmed Incorporated · INSM

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−19.3 pp

Dec 2022+0.5 pp

Mar 2023−2.8 pp

Jun 2023−10.8 pp

Sep 2023−10.0 pp

Dec 2023−29.1 pp

Mar 2024−52.0 pp

Jun 2024+3.0 pp

Sep 2024+20.3 pp

Dec 2024+16.2 pp

Mar 2025+37.3 pp

Jun 2025+7.3 pp

Sep 2025−11.8 pp

Dec 2025−9.9 pp

Mar 2026−1.4 pp

Jun 2026−6.0 pp

Moderna, Inc. · MRNA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.6 pp

Dec 2022−40.6 pp

Mar 2023−65.1 pp

Jun 2023−78.6 pp

Sep 2023−86.5 pp

Dec 2023−72.5 pp

Mar 2024−59.2 pp

Jun 2024−37.5 pp

Sep 2024−2.1 pp

Dec 2024−5.6 pp

Mar 2025+2.2 pp

Jun 2025+3.4 pp

Sep 2025−13.3 pp

Dec 2025+3.4 pp

Mar 2026+5.7 pp

Jun 2026+2.5 pp

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−5.5 pp

Dec 2022−9.9 pp

Mar 2023−2.8 pp

Jun 2023−1.4 pp

Sep 2023−1.3 pp

Dec 2023−1.3 pp

Mar 2024−1.2 pp

Jun 2024−0.3 pp

Sep 2024−0.4 pp

Dec 2024−0.4 pp

Mar 2025−0.8 pp

Jun 2025−0.4 pp

Sep 2025−0.8 pp

Dec 2025−0.6 pp

Mar 20260.0 pp

Jun 2026+0.5 pp

Revolution Medicines, Inc. · RVMD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−2.1 pp

Dec 2022+0.2 pp

Mar 2023−0.8 pp

Jun 2023−4.3 pp

Sep 2023−4.2 pp

Dec 2023−4.9 pp

Mar 2024−0.8 pp

Jun 2024+2.3 pp

Sep 2024+1.1 pp

Dec 2024+3.5 pp

Mar 2025−2.1 pp

Jun 2025−1.8 pp

Sep 2025−3.4 pp

Dec 2025−6.2 pp

Mar 2026−9.3 pp

Jun 2026−2.9 pp

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−32.6 pp

Dec 2022−35.8 pp

Mar 2023—

Jun 2023+1.5 pp

Sep 2023+14.6 pp

Dec 2023+47.2 pp

Mar 2024—

Jun 2024+27.6 pp

Sep 2024+21.3 pp

Dec 2024−9.4 pp

Mar 2025−10.8 pp

Jun 2025−12.8 pp

Sep 2025−8.1 pp

Dec 2025−7.6 pp

Mar 2026−1.7 pp

Jun 2026−1.9 pp

Royalty Pharma plc · RPRX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−0.7 pp

Dec 2022−3.8 pp

Mar 2023+1.6 pp

Jun 2023−0.7 pp

Sep 2023−0.2 pp

Dec 2023+6.7 pp

Mar 2024−3.4 pp

Jun 2024+0.1 pp

Sep 2024+3.6 pp

Dec 2024−1.6 pp

Mar 2025+3.8 pp

Jun 2025−0.4 pp

Sep 2025−2.1 pp

Dec 20250.0 pp

Mar 2026−0.1 pp

Jun 2026−0.5 pp

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−1.4 pp

Dec 2022−0.6 pp

Mar 2023−3.8 pp

Jun 2023−2.7 pp

Sep 2023−2.7 pp

Dec 2023−2.0 pp

Mar 2024+0.7 pp

Jun 2024−27.7 pp

Sep 2024−0.3 pp

Dec 2024−0.3 pp

Mar 2025−3.1 pp

Jun 2025+27.2 pp

Sep 20250.0 pp

Dec 2025+0.5 pp

Mar 2026+2.3 pp

Jun 2026−0.6 pp

09 · compare level, then change

Valuation Against Growth & Quality

Genmab A/S has the lowest PEG among the 30 Biotechnology companies compared here, at 0.24×. Halozyme Therapeutics, Inc. is next at 0.27×. Roivant Sciences Ltd. has the lowest P/E at -66.1×, so level and change sit with different companies. 10 of 30 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Genmab A/S has the lowest comparable PEG at 0.24×, 11.1% below Halozyme Therapeutics, Inc.. Only 10 of 30 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderGenmab A/S · 0.24×

Gap11.1% versus #2 · Halozyme Therapeutics, Inc.

Persistence0/8 recent comparable periods

Coverage10/30 companies · 37 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Genmab A/S GMAB0.2

2Halozyme Therapeutics, Inc. HALO0.3

3Royalty Pharma plc RPRX0.3

4Jazz Pharmaceuticals plc JAZZ0.3

5Krystal Biotech, Inc. KRYS0.8

P/Elowest P/E

1Roivant Sciences Ltd. ROIV-66.1

2BioNTech SE BNTX-39.7

3Moderna, Inc. MRNA-11.6

4Exelixis, Inc. EXEL14.0

5Incyte Corporation INCY14.0

Valuation · company comparison

10/30 level · 20/30 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Corcept Therapeutics Incorporated CORT	10.4	207.0	Jun 2026
Bio-Techne Corporation TECH	7.7	75.7	Mar 2026
BioMarin Pharmaceutical Inc. BMRN	5.9	41.2	Mar 2026
Regeneron Pharmaceuticals, Inc. REGN	2.2	15.4	Jun 2026
Vertex Pharmaceuticals Incorporated VRTX	1.3	28.9	Jun 2026
argenx SE ARGX	1.1	35.6	Jun 2026
Exelixis, Inc. EXEL	1.0	14.0	Jun 2026
Krystal Biotech, Inc. KRYS	0.8	34.5	Mar 2026
Jazz Pharmaceuticals plc JAZZ	0.3	16.6	Mar 2026
Royalty Pharma plc RPRX	0.3	29.8	Jun 2026
Halozyme Therapeutics, Inc. HALO	0.3	23.3	Mar 2026
Genmab A/S GMAB	0.2	20.4	Mar 2026
Moderna, Inc. MRNA	—	-11.6	Jun 2026
BeOne Medicines AG ONC	—	77.7	Jun 2026
Alnylam Pharmaceuticals, Inc. ALNY	—	56.0	Jun 2026
Roivant Sciences Ltd. ROIV	—	-66.1	Jun 2026
Incyte Corporation INCY	—	14.1	Jun 2026
BioNTech SE BNTX	—	-39.7	Jun 2026
Ascendis Pharma A/S ASND	—	26.8	Mar 2026
Arrowhead Pharmaceuticals, Inc. ARWR	—	43.4	Mar 2026

Full 20-quarter history · every available company

PEG · reported quarter history

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 20250.8

Mar 20260.8

Jun 20261.1

Bio-Techne Corporation · TECH

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20233.9

Jun 20237.7

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

BioMarin Pharmaceutical Inc. · BMRN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20235.9

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Corcept Therapeutics Incorporated · CORT

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20234.4

Mar 20240.8

Jun 20240.8

Sep 20240.7

Dec 20241.3

Mar 202510.4

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Exelixis, Inc. · EXEL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20233.0

Mar 20241.0

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Genmab A/S · GMAB

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 20231.4

Sep 2023—

Dec 2023—

Mar 2024—

Jun 20241.5

Sep 20243.8

Dec 2024—

Mar 20250.2

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Halozyme Therapeutics, Inc. · HALO

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20230.8

Dec 20230.4

Mar 2024—

Jun 20240.4

Sep 2024—

Dec 2024—

Mar 20250.3

Jun 2025—

Sep 20250.3

Dec 2025—

Mar 2026—

Jun 2026—

Jazz Pharmaceuticals plc · JAZZ

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 20240.3

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Krystal Biotech, Inc. · KRYS

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 20250.8

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Regeneron Pharmaceuticals, Inc. · REGN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 20241.7

Dec 20241.8

Mar 20251.0

Jun 20252.6

Sep 2025—

Dec 20252.2

Mar 2026—

Jun 2026—

Royalty Pharma plc · RPRX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.3

Jun 20250.3

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Vertex Pharmaceuticals Incorporated · VRTX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 20230.8

Jun 2023—

Sep 20235.1

Dec 20233.6

Mar 20241.2

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 20261.3

P/E · reported quarter history

Showing the 12 largest of 20 companies with a series here. The remaining 8 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Alnylam Pharmaceuticals, Inc. · ALNY

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025912.0

Dec 2025170.7

Mar 202691.4

Jun 202656.0

argenx SE · ARGX

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 202448.1

Mar 202536.5

Jun 202528.3

Sep 202531.7

Dec 202543.0

Mar 202632.5

Jun 202635.6

Ascendis Pharma A/S · ASND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 202626.8

Jun 2026—

BeOne Medicines AG · ONC

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025123.0

Mar 202683.2

Jun 202677.7

BioNTech SE · BNTX

Sep 20217.6

Dec 20215.3

Mar 20222.9

Jun 20223.0

Sep 20223.2

Dec 20223.6

Mar 20234.4

Jun 2023—

Sep 20239.0

Dec 202324.4

Mar 2024—

Jun 2024—

Sep 2024-54.2

Dec 2024-39.7

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Genmab A/S · GMAB

Sep 202159.9

Dec 202158.2

Mar 202269.6

Jun 202238.2

Sep 202227.7

Dec 202235.6

Mar 202332.3

Jun 202335.5

Sep 202335.3

Dec 202333.2

Mar 202424.7

Jun 202420.6

Sep 202422.9

Dec 202411.9

Mar 202511.1

Jun 202510.4

Sep 202513.1

Dec 202520.0

Mar 202620.4

Jun 2026—

Incyte Corporation · INCY

Sep 202128.4

Dec 202117.1

Mar 202218.8

Jun 202217.8

Sep 202216.9

Dec 202252.5

Mar 202349.7

Jun 202337.9

Sep 202330.5

Dec 202323.6

Mar 202417.2

Jun 2024—

Sep 2024391.9

Dec 2024408.0

Mar 2025550.9

Jun 202515.1

Sep 202513.9

Dec 202515.1

Mar 202613.1

Jun 202614.1

Moderna, Inc. · MRNA

Sep 202122.0

Dec 20218.4

Mar 20224.7

Jun 20224.0

Sep 20223.9

Dec 20228.3

Mar 202312.4

Jun 2023—

Sep 2023—

Dec 2023-8.0

Mar 2024—

Jun 2024—

Sep 2024-11.6

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Regeneron Pharmaceuticals, Inc. · REGN

Sep 20219.7

Dec 20218.8

Mar 20229.9

Jun 202211.8

Sep 202214.5

Dec 202218.9

Mar 202322.3

Jun 202319.0

Sep 202323.5

Dec 202325.3

Mar 202428.4

Jun 202427.8

Sep 202426.0

Dec 202418.6

Mar 202516.2

Jun 202513.2

Sep 202513.5

Dec 202518.6

Mar 202618.8

Jun 202615.4

Roivant Sciences Ltd. · ROIV

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20232.0

Mar 2024—

Jun 20241.7

Sep 2024—

Dec 2024-73.8

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026-66.1

Jun 2026—

Royalty Pharma plc · RPRX

Sep 202118.6

Dec 202126.8

Mar 202227.1

Jun 202239.7

Sep 202235.3

Dec 2022395.2

Mar 202348.7

Jun 202356.9

Sep 202371.4

Dec 202311.1

Mar 202417.2

Jun 202417.6

Sep 202411.1

Dec 202413.4

Mar 202512.7

Jun 202515.7

Sep 202520.1

Dec 202521.7

Mar 202625.1

Jun 202629.8

Vertex Pharmaceuticals Incorporated · VRTX

Sep 202121.8

Dec 202124.4

Mar 202227.5

Jun 202222.8

Sep 202222.8

Dec 202222.5

Mar 202325.1

Jun 202327.2

Sep 202326.1

Dec 202329.3

Mar 202427.1

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 202531.8

Sep 202527.6

Dec 202529.6

Mar 202626.5

Jun 202628.9

10 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Biotechnology comparison names 4 specific ways its own evidence can mislead, all listed below. All 30 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

11 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 30 Biotechnology companies, normalized to a common $ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-09-16. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-09-16 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

12 · questions investors ask, short speakable answers

Biotechnology company comparison FAQs

These 22 answers restate the Biotechnology comparison above in question form. Every one is computed from the same 30 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-09-16. Nothing here is estimated, and none of it is a recommendation.

Is the Biotechnology sector outperforming S&P 500?

Which Biotechnology company is largest by revenue?

Regeneron Pharmaceuticals, Inc. leads with revenue of $15,534 million, based on 23 of 30 comparable companies through Jun 2026.

Which Biotechnology company is growing fastest?

Ascendis Pharma A/S has the fastest current revenue growth at 100%, across 22 of 30 comparable companies.

Which Biotechnology company has the strongest 4-Factor Sector Score?

Incyte Corporation ranks first at 73.7/100 with 75.3% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Biotechnology company has the lowest comparable PEG?

Genmab A/S has the lowest comparable PEG at 0.24, among 10 of 30 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Biotechnology comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Which Biotechnology company is the biggest?

Regeneron Pharmaceuticals, Inc. is the largest, with trailing-twelve-month revenue of $15,534 million, ahead of Vertex Pharmaceuticals Incorporated at $12,587 million. That covers 23 of 30 companies with comparable reporting through Jun 2026.

Which Biotechnology company has the best profit margins?

Halozyme Therapeutics, Inc. has the highest operating margin at 49%, from 25 of 30 comparable companies. Cytokinetics, Incorporated shows the biggest improvement (+8907.6 percentage points — see the chart above for the starting level). A high margin matters most when it is holding or rising, not when it is peaking.

Which Biotechnology company makes the most profit?

Vertex Pharmaceuticals Incorporated earns the most, at $4,405 million of trailing-twelve-month net profit, from 26 of 30 comparable companies. Incyte Corporation has the fastest profit growth at 85.3%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Biotechnology company earns the highest return on capital?

Summit Therapeutics Inc. leads on return on capital employed at 48.3%, across 30 of 30 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Biotechnology stock is the cheapest?

On PEG — where a LOWER number is cheaper — Genmab A/S screens cheapest at 0.24×. Only 10 of 30 companies have earnings and growth steady enough for the ratio to mean anything, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Biotechnology sector beating the market?

Biotechnology has outperformed S&P 500 by 51.7% over the last 52 weeks and 19.4% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 21 of 29 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Biotechnology stock has the strongest price momentum?

Moderna, Inc. has the strongest relative strength against S&P 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Biotechnology company scores highest for research priority?

Incyte Corporation scores 73.7 out of 100 with 75.3% evidence confidence, from 30 points on growth and earnings, 21.2 on capital efficiency, 10.9 on valuation and 11.6 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Biotechnology companies does this comparison cover, and over what period?

It compares 30 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Biotechnology sector?

The 30 Biotechnology companies on this page carry $802,630 million of combined market value. Vertex Pharmaceuticals Incorporated is the largest at $130,091 million, about 16% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-09-16.

What is the Biotechnology sector's P/E ratio?

The median price-to-earnings ratio across the 30 Biotechnology companies on this page is 29.8×, measured on the 17 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-09-16.

How is the Biotechnology sector performing?

21 of the 29 covered Biotechnology companies are beating S&P 500 on Mansfield relative strength. The sector itself is 51.7% ahead of S&P 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-09-16.

How many Biotechnology stocks are listed in the US?

This comparison covers 30 listed Biotechnology companies in the US, each above the size floor the site applies. The full ranked list is on this page, with reported fundamentals through Jun 2026. Membership is the full industry list — nothing is dropped for having thin data.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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Not SEBI Registered !! Not Investment advice !!