As the Q3 earnings season wraps, let’s dig into this quarter’s best and worst performers in the therapeutics industry, including Amgen (NASDAQ:AMGN) 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 mixed Q3. As a group, revenues beat analysts’ consensus estimates by 10.5%.
Luckily, therapeutics stocks have performed well with share prices up 16% on average since the latest earnings results.
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 $9.56 billion, up 12.4% year on year. This print exceeded analysts’ expectations by 6.6%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ revenue estimates and full-year revenue guidance beating analysts’ expectations.
Interestingly, the stock is up 16.4% since reporting and currently trades at $345.49.
Is now the time to buy Amgen? Access our full analysis of the earnings results here, it’s free.
Best Q3: 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 $354.3 million, up 22.1% year on year, outperforming analysts’ expectations by 3.1%. The business had an exceptional quarter with full-year EBITDA guidance exceeding analysts’ expectations and a solid beat of analysts’ full-year EPS guidance estimates.
Halozyme Therapeutics scored the fastest revenue growth among its peers. The market seems content with the results as the stock is up 4.7% since reporting. It currently trades at $69.29.
Is now the time to buy Halozyme Therapeutics? Access our full analysis of the earnings results here, it’s free.
Slowest Q3: 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 $799.5 million, up 6.8% year on year, falling short of analysts’ expectations by 1.6%. It was a softer quarter as it posted a miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.
United Therapeutics delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 12.8% since the results and currently trades at $468.64.
Read our full analysis of United Therapeutics’s results here.
Biogen (NASDAQ:BIIB)
Founded in 1978 and pioneering treatments for some of medicine's most complex challenges, Biogen (NASDAQ:BIIB) develops and markets therapies for neurological conditions, including multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, and rare diseases.
Biogen reported revenues of $2.53 billion, up 2.8% year on year. This print topped analysts’ expectations by 8.6%. It was a strong quarter as it also recorded an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
The stock is up 15.7% since reporting and currently trades at $171.07.
Read our full, actionable report on Biogen here, it’s free.
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 $205.7 million, down 3.6% year on year. This result met analysts’ expectations. Taking a step back, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but a significant miss of analysts’ full-year EPS guidance estimates.
Myriad Genetics scored the highest full-year guidance raise among its peers. The stock is down 28.1% since reporting and currently trades at $5.88.
Read our full, actionable report on Myriad Genetics here, it’s free.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
StockStory’s analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.