The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how therapeutics stocks fared in Q4, starting with AbbVie (NYSE: ABBV).

Over the next few years, therapeutic companies, which develop a wide variety of treatments for diseases and disorders, face strong tailwinds from advancements in precision medicine (including the use of AI to improve hit rates) and growing demand for treatments targeting rare diseases. However, headwinds such as rising scrutiny over drug pricing, regulatory unknowns, and competition from larger, more resourced pharmaceutical companies could weigh on growth.

The 11 therapeutics stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 7.1%.

In light of this news, share prices of the companies have held steady as they are up 1.5% on average since the latest earnings results.

AbbVie (NYSE: ABBV)

Born from a 2013 spinoff of Abbott Laboratories' pharmaceutical business, AbbVie (NYSE: ABBV) is a biopharmaceutical company that develops and markets medications for autoimmune diseases, cancer, neurological disorders, and other complex health conditions.

AbbVie reported revenues of $16.62 billion, up 10% year on year. This print exceeded analysts’ expectations by 2.3%. Overall, it was a strong quarter for the company with a solid beat of analysts’ revenue estimates and a decent beat of analysts’ full-year EPS guidance estimates.

"2025 was another outstanding year for AbbVie. We delivered record net sales in just the second full year following the U.S. Humira loss of exclusivity, underscoring the strength of our diversified growth platform. We also advanced promising new treatments for patients while enhancing the breadth and depth of our pipeline with strategic investments," said Robert A. Michael, chairman and chief executive officer, AbbVie.

The stock is down 11% since reporting and currently trades at $200.75.

Is now the time to buy AbbVie? Access our full analysis of the earnings results here, it’s free.

Best Q4: Novavax (NASDAQ: NVAX)

Pioneering a nanoparticle technology that mimics the molecular structure of disease pathogens, Novavax (NASDAQ: NVAX) develops and commercializes protein-based vaccines for infectious diseases, with a primary focus on its COVID-19 vaccine and combination respiratory vaccine candidates.

Novavax reported revenues of $147.1 million, up 66.6% year on year, outperforming analysts’ expectations by 57.4%. The business had an incredible quarter with a beat of analysts’ EPS and revenue estimates.

Novavax achieved the biggest analyst estimates beat and fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 10.9% since reporting. It currently trades at $8.49.

Is now the time to buy Novavax? Access our full analysis of the earnings results here, it’s free.

Slowest Q4: United Therapeutics (NASDAQ: UTHR)

Founded by a mother seeking treatment for her daughter's pulmonary arterial hypertension, United Therapeutics (NASDAQ: UTHR) develops and commercializes medications for chronic lung diseases and other life-threatening conditions, with a focus on pulmonary hypertension treatments.

United Therapeutics reported revenues of $790.2 million, up 7.4% year on year, falling short of analysts’ expectations by 2.5%. It was a softer quarter as it posted a significant miss of analysts’ revenue estimates.

United Therapeutics delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 23.1% since the results and currently trades at $582.84.

Read our full analysis of United Therapeutics’s results here.

Vertex Pharmaceuticals (NASDAQ: VRTX)

Founded in 1989 with a mission to create medicines that treat the underlying causes of disease rather than just symptoms, Vertex Pharmaceuticals (NASDAQ: VRTX) develops and markets transformative medicines for serious diseases, with a focus on cystic fibrosis, sickle cell disease, and pain management.

Vertex Pharmaceuticals reported revenues of $3.19 billion, up 9.5% year on year. This number surpassed analysts’ expectations by 1.1%. More broadly, it was a mixed quarter as it also logged a narrow beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.

The stock is down 5.8% since reporting and currently trades at $438.25.

Read our full, actionable report on Vertex Pharmaceuticals here, it’s free.

Halozyme Therapeutics (NASDAQ: HALO)

Known for transforming hours-long intravenous infusions into minutes-long subcutaneous injections, Halozyme Therapeutics (NASDAQ: HALO) develops and licenses its proprietary ENHANZE technology that enables subcutaneous delivery of injectable drugs that would otherwise require intravenous administration.

Halozyme Therapeutics reported revenues of $451.8 million, up 51.6% year on year. This print topped analysts’ expectations by 0.6%. Taking a step back, it was a softer quarter as it produced a significant miss of analysts’ EPS estimates and a miss of analysts’ full-year EPS guidance estimates.

The stock is down 15.5% since reporting and currently trades at $68.01.

Read our full, actionable report on Halozyme Therapeutics here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.