Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Regeneron (NASDAQ: REGN) and the best and worst performers in the biotechnology industry.

The biotechnology industry is defined by its high-risk, high-reward business model, as companies invest heavily in research and development to create innovative therapies and treatments. Breakthroughs can lead to transformative, patent-protected revenue streams. Companies in this space are also increasingly relying on AI and data to maximize the speed and efficiency of drug discovery. On the other hand the lengthy and expensive process of clinical trials and regulatory approval makes profitability uncertain and timelines unpredictable.

The 13 biotechnology stocks we track reported a strong Q4. As a group, revenues beat analysts’ consensus estimates by 7.1%.

While some biotechnology stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.

Regeneron (NASDAQ: REGN)

Founded by scientists who wanted to build a company where science could thrive, Regeneron Pharmaceuticals (NASDAQ: REGN) develops and commercializes medicines for serious diseases, with key products treating eye conditions, allergic diseases, cancer, and other disorders.

Regeneron reported revenues of $3.88 billion, up 2.5% year on year. This print exceeded analysts’ expectations by 2.7%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ revenue and EPS estimates.

"Regeneron performed well in 2025, with financial strength driven by our four blockbuster medicines and future growth supported by our exciting late-stage clinical portfolio," said Leonard S. Schleifer, M.D., Ph.D., Board co-Chair, President and Chief Executive Officer of Regeneron.

Interestingly, the stock is up 1.8% since reporting and currently trades at $763.29.

Is now the time to buy Regeneron? 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 pulled off 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 14.9% since reporting. It currently trades at $8.11.

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

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 20.9% since the results and currently trades at $572.50.

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

Gilead Sciences (NASDAQ: GILD)

From its groundbreaking work in developing the first single-tablet regimens for HIV treatment, Gilead Sciences (NASDAQ: GILD) develops and markets innovative medicines for life-threatening diseases including HIV, viral hepatitis, COVID-19, and cancer.

Gilead Sciences reported revenues of $7.93 billion, up 4.7% year on year. This result surpassed analysts’ expectations by 3.2%. More broadly, it was a mixed quarter as it also logged a solid beat of analysts’ revenue estimates but a slight miss of analysts’ full-year EPS guidance estimates.

The stock is down 9.5% since reporting and currently trades at $133.29.

Read our full, actionable report on Gilead Sciences here, it’s free.

Incyte (NASDAQ: INCY)

Founded in 1991 and evolving from a genomics research firm to a commercial-stage drug developer, Incyte (NASDAQ: INCY) is a biopharmaceutical company that discovers, develops, and commercializes proprietary therapeutics for cancer and inflammatory diseases.

Incyte reported revenues of $1.51 billion, up 27.8% year on year. This print beat analysts’ expectations by 11.4%. Zooming out, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.

The stock is down 12.4% since reporting and currently trades at $95.50.

Read our full, actionable report on Incyte 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 Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.