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Best Biotech Stocks to Buy Now (2024)
Top biotech stocks in 2024 ranked by overall Zen Score. See the best biotech stocks to buy now, according to analyst forecasts for the biotechnology industry.

Industry: Biotechnology
Ticker
Company
Country
Market Cap
Shares
Institutional %
Insider %
Net Insider (L12M)
Net Insider (L3M)
SYRS
SYROS PHARMACEUTICALS INC
United States
$135.71M26,453,89146.94%53.06%Net BuyingNet Selling
LRMR
LARIMAR THERAPEUTICS INC
United States
$495.41M63,800,01742.05%57.95%Net BuyingNet Buying
MNOV
MEDICINOVA INC
United States
$64.25M49,046,2469.85%89.10%
SLNO
SOLENO THERAPEUTICS INC
United States
$1.46B32,460,57920.77%79.23%Net BuyingNet Selling
ERAS
ERASCA INC
United States
$324.20M151,494,16144.64%55.36%Net Buying
VRNA
VERONA PHARMA PLC
United Kingdom
$1.27B646,524,95810.44%55.89%Net SellingNet Selling
QNCX
QUINCE THERAPEUTICS INC
United States
$42.57M43,215,23315.43%84.57%Net Buying
CNTB
CONNECT BIOPHARMA HOLDINGS LTD
China
$87.61M55,102,95412.92%0.00%
VOR
VOR BIOPHARMA INC
United States
$122.70M68,168,77187.43%10.18%Net SellingNet Selling
ABOS
ACUMEN PHARMACEUTICALS INC
United States
$209.68M60,079,77863.98%16.58%Net Buying
THRD
THIRD HARMONIC BIO INC
United States
$476.36M40,714,39973.29%26.71%Net BuyingNet Buying
BCRX
BIOCRYST PHARMACEUTICALS INC
United States
$917.37M206,149,92983.05%16.95%Net SellingNet Selling
MACK
MERRIMACK PHARMACEUTICALS INC
United States
$217.74M14,516,17023.49%76.51%Net Buying
TNGX
TANGO THERAPEUTICS INC
United States
$812.13M106,718,31559.42%40.58%Net BuyingNet Selling
RGNX
REGENXBIO INC
United States
$747.72M44,427,55576.15%23.85%Net SellingNet Buying
ONVO
ORGANOVO HOLDINGS INC
United States
$10.34M10,040,0744.53%95.47%Net Selling
NTRB
NUTRIBAND INC
United States
$38.28M10,969,8701.78%51.68%
MTNB
MATINAS BIOPHARMA HOLDINGS INC
United States
$38.06M217,482,83011.76%13.73%
CTMX
CYTOMX THERAPEUTICS INC
United States
$300.01M67,721,65848.20%30.89%Net BuyingNet Buying
AFMD
AFFIMED NV
Germany
$82.53M15,227,463100.00%0.00%
APLS
APELLIS PHARMACEUTICALS INC
United States
$5.72B120,581,74974.88%25.12%Net BuyingNet Selling
GNLX
GENELUX CORP
United States
$102.89M26,865,47321.54%5.21%Net SellingNet Selling
RCUS
ARCUS BIOSCIENCES INC
United States
$1.43B90,864,82948.32%51.68%Net BuyingNet Selling
SCPH
SCPHARMACEUTICALS INC
United States
$168.01M36,054,40956.17%43.83%Net Selling
INMB
INMUNE BIO INC
United States
$208.57M18,026,47312.71%40.66%Net BuyingNet Buying
ORGS
ORGENESIS INC
United States
$18.10M34,338,7824.00%96.00%Net BuyingNet Buying
PRAX
PRAXIS PRECISION MEDICINES INC
United States
$722.02M13,238,34940.09%59.91%Net BuyingNet Selling
FTRE
FORTREA HOLDINGS INC
United States
$3.34B89,400,00099.87%0.13%Net BuyingNet Selling
ELAB
ELEVAI LABS INC
United States
$12.15M17,329,6150.15%99.85%
PHAT
PHATHOM PHARMACEUTICALS INC
United States
$587.11M58,477,35160.10%39.90%Net SellingNet Selling
LEXX
LEXARIA BIOSCIENCE CORP
Canada
$40.33M12,885,6738.82%4.82%
FBIO
FORTRESS BIOTECH INC
United States
$33.66M19,234,52624.35%62.68%Net BuyingNet Buying
SYBX
SYNLOGIC INC
United States
$21.43M11,646,9773.98%96.02%Net SellingNet Selling
MGX
METAGENOMI INC
United States
$236.83M37,472,3510.00%32.96%Net BuyingNet Buying
CDXC
CHROMADEX CORP
United States
$284.67M75,309,1188.22%91.78%Net Buying
OABI
OMNIAB INC
United States
$546.98M117,126,04671.51%26.39%Net BuyingNet Buying
ADAP
ADAPTIMMUNE THERAPEUTICS PLC
United Kingdom
$294.31M1,480,950,4567.28%92.72%Net Selling
AUTL
AUTOLUS THERAPEUTICS PLC
United Kingdom
$1.11B265,926,30543.49%0.00%
IBRX
IMMUNITYBIO INC
United States
$6.17B673,952,2788.50%7.94%Net BuyingNet Selling
HRTX
HERON THERAPEUTICS INC
United States
$392.36M150,328,58548.56%51.44%Net BuyingNet Selling
PRQR
PROQR THERAPEUTICS NV
Netherlands
$163.52M81,354,59222.61%0.00%
RLMD
RELMADA THERAPEUTICS INC
United States
$111.04M30,174,20245.13%3.43%Net Buying
MURA
MURAL ONCOLOGY PLC
Ireland
$64.81M16,922,55078.93%2.66%
ADTX
ADITXT INC
United States
$3.83M1,665,2140.09%99.91%Net Selling
HEPA
HEPION PHARMACEUTICALS INC
United States
$7.99M5,472,4517.54%92.46%Net Buying
OLMA
OLEMA PHARMACEUTICALS INC
United States
$596.61M55,914,74171.73%28.27%Net BuyingNet Selling
IVVD
INVIVYD INC
United States
$288.52M119,221,23037.84%62.16%Net Selling
ATXI
AVENUE THERAPEUTICS INC
United States
$2.82M590,1424.45%95.55%Net Buying
GOVX
GEOVAX LABS INC
United States
$3.50M2,172,2721.21%98.79%Net BuyingNet Buying
LXEO
LEXEO THERAPEUTICS INC
United States
$340.56M26,668,95660.65%25.62%Net Buying
GLTO
GALECTO INC
United States
$18.98M27,112,69714.20%24.86%Net Selling
CARM
CARISMA THERAPEUTICS INC
United States
$67.30M41,542,53421.66%74.42%
SGMT
SAGIMET BIOSCIENCES INC
United States
$137.87M31,913,88739.98%60.02%Net BuyingNet Buying
SLRN
ACELYRIN INC
United States
$427.89M98,365,05073.07%26.93%Net BuyingNet Selling
MIRA
MIRA PHARMACEUTICALS INC
United States
$10.83M14,780,8850.66%30.26%Net Buying
SRZN
SURROZEN INC
United States
$31.99M3,198,7865.92%94.08%Net BuyingNet Buying
THTX
THERATECHNOLOGIES INC
Canada
$58.85M45,980,01933.01%0.00%
IMRX
IMMUNEERING CORP
United States
$48.02M29,283,27253.75%46.25%Net SellingNet Selling
RNAC
CARTESIAN THERAPEUTICS INC
United States
$138.20M5,398,28754.86%45.14%Net BuyingNet Buying
INZY
INOZYME PHARMA INC
United States
$292.80M61,771,97754.64%45.36%Net BuyingNet Selling
ALXO
ALX ONCOLOGY HOLDINGS INC
United States
$770.34M50,152,08275.63%24.37%Net SellingNet Selling
EWTX
EDGEWISE THERAPEUTICS INC
United States
$1.82B93,110,62384.20%15.80%Net BuyingNet Selling
XERS
XERIS BIOPHARMA HOLDINGS INC
United States
$265.46M140,453,46742.66%15.51%Net BuyingNet Buying
IRON
DISC MEDICINE INC
United States
$735.25M24,681,02844.57%55.43%Net SellingNet Selling
IMVT
IMMUNOVANT INC
United States
$4.19B145,292,97044.83%55.17%Net BuyingNet Selling
FBRX
FORTE BIOSCIENCES INC
United States
$25.99M36,394,88251.83%22.30%Net BuyingNet Selling
ONCT
ONCTERNAL THERAPEUTICS INC
United States
$25.88M2,959,64513.07%86.93%Net SellingNet Buying
TSBX
TURNSTONE BIOLOGICS CORP
United States
$62.83M23,099,33546.24%53.76%Net Buying
DRTS
ALPHA TAU MEDICAL LTD
Israel
$173.48M69,670,6122.64%0.00%
APVO
APTEVO THERAPEUTICS INC
United States
$527.60k533,46434.00%66.00%
RCKT
ROCKET PHARMACEUTICALS INC
United States
$2.12B90,504,24854.89%45.11%Net SellingNet Selling
VIGL
VIGIL NEUROSCIENCE INC
United States
$111.76M36,884,71244.03%55.97%Net Buying
NNVC
NANOVIRICIDES INC
United States
$13.31M11,779,0002.27%97.73%
RAPT
RAPT THERAPEUTICS INC
United States
$289.86M34,797,70266.33%33.67%Net Selling
VRPX
VIRPAX PHARMACEUTICALS INC
United States
$2.62M1,171,2334.26%95.74%
REPL
REPLIMUNE GROUP INC
United States
$426.65M61,387,78667.71%32.29%Net Selling
TRML
TOURMALINE BIO INC
United States
$406.24M25,646,50943.00%57.00%Net Selling
LBPH
LONGBOARD PHARMACEUTICALS INC
United States
$831.06M38,880,05442.51%0.08%Net Selling
MLTX
MOONLAKE IMMUNOTHERAPEUTICS
United States
$2.89B63,886,75772.47%27.53%Net BuyingNet Selling
COGT
COGENT BIOSCIENCES INC
United States
$782.47M103,913,39687.38%11.29%Net BuyingNet Buying
RZLT
REZOLUTE INC
United States
$131.16M39,625,27121.83%78.17%Net BuyingNet Buying
CRVS
CORVUS PHARMACEUTICALS INC
United States
$94.15M49,038,58239.12%60.38%Net Buying
ZURA
ZURA BIO LTD
United States
$201.40M43,593,67827.09%72.91%Net SellingNet Buying
ATHE
ALTERITY THERAPEUTICS LTD
Australia
$11.49M2,802,360,3800.00%0.00%
SRRK
SCHOLAR ROCK HOLDING CORP
United States
$1.20B77,866,28160.56%39.44%Net BuyingNet Selling
CRGX
CARGO THERAPEUTICS INC
United States
$800.25M39,363,05271.34%28.66%Net Buying
SNTI
SENTI BIOSCIENCES INC
United States
$16.93M45,755,02125.05%52.51%
ADCT
ADC THERAPEUTICS SA
Switzerland
$404.39M82,529,54941.10%37.51%
ELDN
ELEDON PHARMACEUTICALS INC
United States
$59.80M24,813,13023.14%76.86%
ACHL
ACHILLES THERAPEUTICS PLC
United Kingdom
$33.03M41,082,94853.02%0.00%
GOSS
GOSSAMER BIO INC
United States
$166.93M225,582,25086.47%13.53%Net BuyingNet Selling
INTS
INTENSITY THERAPEUTICS INC
United States
$52.92M13,709,3770.00%14.63%
ALVR
ALLOVIR INC
United States
$91.67M114,869,17514.62%85.38%Net BuyingNet Selling
NMRA
NEUMORA THERAPEUTICS INC
United States
$1.47B158,886,10121.44%78.56%Net Buying
COYA
COYA THERAPEUTICS INC
United States
$126.23M14,542,57919.41%14.62%Net Buying
TCBP
TC BIOPHARM (HOLDINGS) PLC
United Kingdom
$4.66M63,902,6410.12%11.35%
TCON
TRACON PHARMACEUTICALS INC
United States
$4.23M2,275,2256.34%93.66%Net Selling
ENTA
ENANTA PHARMACEUTICALS INC
United States
$320.94M21,155,98358.46%41.54%Net SellingNet Selling
ACRV
ACRIVON THERAPEUTICS INC
United States
$217.09M22,636,95146.35%53.65%Net BuyingNet Buying
TENX
TENAX THERAPEUTICS INC
United States
$7.52M1,958,2457.69%92.31%

Biotech Stocks FAQ

What are the best biotech stocks to buy right now in May 2024?

According to Zen Score, the 3 best biotechnology stocks to buy right now are:

1. Corcept Therapeutics (NASDAQ:CORT)


Corcept Therapeutics (NASDAQ:CORT) is the top biotech stock with a Zen Score of 65, which is 42 points higher than the biotech industry average of 23. It passed 21 out of 33 due diligence checks and has strong fundamentals. Corcept Therapeutics has seen its stock return 6.15% over the past year, overperforming other biotech stocks by 24 percentage points.

Corcept Therapeutics has an average 1 year price target of $40.67, an upside of 65.85% from Corcept Therapeutics's current stock price of $24.52.

Corcept Therapeutics stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Corcept Therapeutics, 66.67% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Incyte (NASDAQ:INCY)


Incyte (NASDAQ:INCY) is the second best biotech stock with a Zen Score of 64, which is 41 points higher than the biotech industry average of 23. It passed 20 out of 33 due diligence checks and has strong fundamentals. Incyte has seen its stock lose -20.99% over the past year, underperforming other biotech stocks by -3 percentage points.

Incyte has an average 1 year price target of $74.92, an upside of 39.37% from Incyte's current stock price of $53.76.

Incyte stock has a consensus Buy recommendation according to Wall Street analysts. Of the 13 analysts covering Incyte, 30.77% have issued a Strong Buy rating, 23.08% have issued a Buy, 46.15% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Amylyx Pharmaceuticals (NASDAQ:AMLX)


Amylyx Pharmaceuticals (NASDAQ:AMLX) is the third best biotech stock with a Zen Score of 63, which is 40 points higher than the biotech industry average of 23. It passed 20 out of 33 due diligence checks and has strong fundamentals. Amylyx Pharmaceuticals has seen its stock lose -92.77% over the past year, underperforming other biotech stocks by -74 percentage points.

Amylyx Pharmaceuticals has an average 1 year price target of $11.00, an upside of 441.87% from Amylyx Pharmaceuticals's current stock price of $2.03.

Amylyx Pharmaceuticals stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Amylyx Pharmaceuticals, 40% have issued a Strong Buy rating, 20% have issued a Buy, 40% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

What are the biotech stocks with highest dividends?

Out of 3 biotech stocks that have issued dividends in the past year, the 3 biotech stocks with the highest dividend yields are:

1. Mei Pharma (NASDAQ:MEIP)


Mei Pharma (NASDAQ:MEIP) has an annual dividend yield of 57.19%, which is 42 percentage points higher than the biotech industry average of 15.03%.

Mei Pharma's dividend payout ratio of 58.9% indicates that its high dividend yield is sustainable for the long-term.

2. Novo Nordisk A S (NYSE:NVO)


Novo Nordisk A S (NYSE:NVO) has an annual dividend yield of 1.11%, which is -14 percentage points lower than the biotech industry average of 15.03%. Novo Nordisk A S's dividend payout is not stable, having dropped more than 10% nine times in the last 10 years. Novo Nordisk A S's dividend has shown consistent growth over the last 10 years.

Novo Nordisk A S's dividend payout ratio of 47.8% indicates that its dividend yield is sustainable for the long-term.

3. Bio Techne (NASDAQ:TECH)


Bio Techne (NASDAQ:TECH) has an annual dividend yield of 0.41%, which is -15 percentage points lower than the biotech industry average of 15.03%. Bio Techne's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Bio Techne's dividend has shown consistent growth over the last 10 years.

Bio Techne's dividend payout ratio of 22.7% indicates that its dividend yield is sustainable for the long-term.

Why are biotech stocks up?

Biotech stocks were up 1.07% in the last day, and up 6% over the last week. Ardelyx was the among the top gainers in the biotechnology industry, gaining 28.42% yesterday.

Ardelyx shares are trading higher after the company reported better-than-expected Q1 financial results.

What are the most undervalued biotech stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued biotech stocks right now are:

1. Incyte (NASDAQ:INCY)


Incyte (NASDAQ:INCY) is the most undervalued biotech stock based on WallStreetZen's Valuation Score. Incyte has a valuation score of 86, which is 73 points higher than the biotech industry average of 13. It passed 6 out of 7 valuation due diligence checks.

Incyte's stock has dropped -20.99% in the past year. It has underperformed other stocks in the biotech industry by -3 percentage points.

2. Royalty Pharma (NASDAQ:RPRX)


Royalty Pharma (NASDAQ:RPRX) is the second most undervalued biotech stock based on WallStreetZen's Valuation Score. Royalty Pharma has a valuation score of 86, which is 73 points higher than the biotech industry average of 13. It passed 6 out of 7 valuation due diligence checks.

Royalty Pharma's stock has dropped -19.61% in the past year. It has underperformed other stocks in the biotech industry by -1 percentage points.

3. Amylyx Pharmaceuticals (NASDAQ:AMLX)


Amylyx Pharmaceuticals (NASDAQ:AMLX) is the third most undervalued biotech stock based on WallStreetZen's Valuation Score. Amylyx Pharmaceuticals has a valuation score of 71, which is 58 points higher than the biotech industry average of 13. It passed 5 out of 7 valuation due diligence checks.

Amylyx Pharmaceuticals's stock has dropped -92.77% in the past year. It has underperformed other stocks in the biotech industry by -74 percentage points.

Are biotech stocks a good buy now?

50.1% of biotech stocks rated by analysts are a strong buy right now. On average, analysts expect biotech stocks to rise by 80.46% over the next year.

What is the average p/e ratio of the biotechnology industry?

The average P/E ratio of the biotechnology industry is 6.05x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.