The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how biotechnology stocks fared in Q1, starting with Incyte (NASDAQ: INCY).

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 14 biotechnology stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 13%.

Luckily, biotechnology stocks have performed well with share prices up 13% on average since the latest earnings results.

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 $1.27 billion, up 20.9% year on year. This print exceeded analysts’ expectations by 4.7%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.

Incyte delivered the weakest full-year guidance update of the whole group. Interestingly, the stock is up 21.5% since reporting and currently trades at $116.26.

Is now the time to buy Incyte? 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 achieved the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 48.7% since reporting. It currently trades at $68.33.

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 4.5% since the results and currently trades at $546.50.

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

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 print lagged analysts’ expectations by 1.3%. More broadly, it was a mixed quarter as it also logged an impressive beat of analysts’ full-year EPS guidance estimates but a significant miss of analysts’ EPS estimates.

BioMarin Pharmaceutical pulled off the highest full-year guidance raise among its peers. The stock is up 7% since reporting and currently trades at $59.34.

Read our full, actionable report on BioMarin Pharmaceutical 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 $376.7 million, up 42.2% year on year. This result surpassed analysts’ expectations by 6.1%. Zooming out, it was a satisfactory quarter as it also produced a beat of analysts’ EPS estimates but a slight miss of analysts’ full-year EPS guidance estimates.

The stock is up 14.6% since reporting and currently trades at $76.08.

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

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