Wrapping up Q1 earnings, we look at the numbers and key takeaways for the therapeutics stocks, including Myriad Genetics (NASDAQ: MYGN) and its peers.
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 satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 14.5%.
Luckily, therapeutics stocks have performed well with share prices up 14% on average since the latest earnings results.
Myriad Genetics (NASDAQ: MYGN)
Founded in 1991 as one of the pioneers in translating genetic discoveries into clinical applications, Myriad Genetics (NASDAQ: MYGN) develops genetic tests that assess disease risk, guide treatment decisions, and provide insights across oncology, women's health, and mental health.
Myriad Genetics reported revenues of $200.4 million, up 2.3% year on year. This print fell short of analysts’ expectations by 1%. Overall, it was a slower quarter for the company with a significant miss of analysts’ EPS estimates.
"We are seeing strong performance across a number of key areas, including the Cancer Care Continuum as we begin to realize a return on our focused strategy. We have implemented a dedicated hereditary cancer sales force and other key programs designed to support the expected continued growth in germline testing. And with decisive steps taken to address our Prenatal Health business, we expect improved performance in the remainder of 2026,” said Sam Raha, President and CEO, Myriad Genetics.
Interestingly, the stock is up 14.3% since reporting and currently trades at $5.75.
Read our full report on Myriad Genetics here, it’s free.
Best Q1: Moderna (NASDAQ: MRNA)
Rising to global prominence during the COVID-19 pandemic with one of the first effective vaccines, Moderna (NASDAQ: MRNA) develops messenger RNA (mRNA) medicines that direct the body's cells to produce proteins with therapeutic or preventive benefits for various diseases.
Moderna reported revenues of $389 million, up 260% year on year, outperforming analysts’ expectations by 55.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates.
Moderna pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 51.6% since reporting. It currently trades at $69.65.
Is now the time to buy Moderna? Access our full analysis of the earnings results here, it’s free.
Weakest Q1: 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 $781.5 million, down 1.6% year on year, falling short of analysts’ expectations by 1.9%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.
United Therapeutics delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 4.8% since the results and currently trades at $544.70.
Read our full analysis of United Therapeutics’s results here.
Amgen (NASDAQ: AMGN)
Founded in 1980 during the early days of the biotechnology revolution, Amgen (NASDAQ: AMGN) is a biotechnology company that discovers, develops, and manufactures innovative medicines to treat serious illnesses like cancer, osteoporosis, and autoimmune diseases.
Amgen reported revenues of $8.62 billion, up 5.8% year on year. This print beat analysts’ expectations by 1.4%. More broadly, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.
The stock is up 3.3% since reporting and currently trades at $357.80.
Read our full, actionable report on Amgen here, it’s free.
BioMarin Pharmaceutical (NASDAQ: BMRN)
Pioneering treatments for conditions that often had no previous therapeutic options, BioMarin Pharmaceutical (NASDAQ: BMRN) develops and commercializes therapies that address the root causes of rare genetic disorders, particularly those affecting children.
BioMarin Pharmaceutical reported revenues of $766.2 million, up 2.8% year on year. This number lagged analysts’ expectations by 1.3%. Aside from that, it was a mixed quarter as it also produced a solid beat of analysts’ full-year EPS guidance estimates but a significant miss of analysts’ EPS estimates.
BioMarin Pharmaceutical scored the highest full-year guidance raise among its peers. The stock is up 1.4% since reporting and currently trades at $56.26.
Read our full, actionable report on BioMarin Pharmaceutical 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.
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