Wrapping up Q1 earnings, we look at the numbers and key takeaways for the therapeutics stocks, including Vertex Pharmaceuticals (NASDAQ: VRTX) 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.
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 $2.99 billion, up 8.2% year on year. This print exceeded analysts’ expectations by 1.2%. Despite the top-line beat, it was still a mixed quarter for the company with a beat of analysts’ EPS estimates and full-year revenue guidance meeting analysts’ expectations.
“Vertex is off to a strong start in 2026, driven by leadership in cystic fibrosis; growth in sickle cell disease, beta thalassemia, and acute pain; as well as rapid pipeline progress,” said Reshma Kewalramani, M.D., Chief Executive Officer and President of Vertex.
Vertex Pharmaceuticals delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 14.9% since reporting and currently trades at $493.73.
Is now the time to buy Vertex Pharmaceuticals? Access our full analysis of the earnings results 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 scored 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.
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 result came in 1% below analysts’ expectations. It was a slower quarter as it also logged a significant miss of analysts’ EPS estimates.
The stock is up 14.3% since reporting and currently trades at $5.75.
Read our full, actionable report on Myriad Genetics here, it’s free.
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 $6.96 billion, up 4.4% year on year. This number beat analysts’ expectations by 1.5%. Aside from that, it was a slower quarter as it produced a significant miss of analysts’ full-year EPS guidance estimates and full-year revenue guidance meeting analysts’ expectations.
The stock is down 6.2% since reporting and currently trades at $125.72.
Read our full, actionable report on Gilead Sciences 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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