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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

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Zen Score	Valuation Score	Financials Score	Forecast Score	Performance Score	Dividends Score
INCY	INCYTE CORP	75	86	100	56	60	–
HRMY	HARMONY BIOSCIENCES HOLDINGS INC	70	71	71	56	80	–
VYGR	VOYAGER THERAPEUTICS INC	66	100	86	0	80	–
AMLX	AMYLYX PHARMACEUTICALS INC	63	71	86	44	50	–
UTHR	UNITED THERAPEUTICS CORP	61	71	100	22	50	–
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Biotech Stocks FAQ

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

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

1. Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY) is the top biotech stock with a Zen Score of 75, which is 52 points higher than the biotech industry average of 23. It passed 24 out of 33 due diligence checks and has strong fundamentals. Incyte has seen its stock lose -28.43% over the past year, underperforming other biotech stocks by -2 percentage points.

Incyte has an average 1 year price target of $73.92, an upside of 39.94% from Incyte's current stock price of $52.82.

Incyte stock has a consensus Buy recommendation according to Wall Street analysts. Of the 12 analysts covering Incyte, 25% have issued a Strong Buy rating, 16.67% have issued a Buy, 58.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Harmony Biosciences Holdings (NASDAQ:HRMY)

Harmony Biosciences Holdings (NASDAQ:HRMY) is the second best biotech stock with a Zen Score of 70, which is 47 points higher than the biotech industry average of 23. It passed 23 out of 33 due diligence checks and has strong fundamentals. Harmony Biosciences Holdings has seen its stock lose -12.82% over the past year, overperforming other biotech stocks by 14 percentage points.

Harmony Biosciences Holdings has an average 1 year price target of $37.33, an upside of 28.6% from Harmony Biosciences Holdings's current stock price of $29.03.

Harmony Biosciences Holdings stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Harmony Biosciences Holdings, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 16.67% have issued a Sell rating, and 16.67% have issued a Strong Sell.

3. Voyager Therapeutics (NASDAQ:VYGR)

Voyager Therapeutics (NASDAQ:VYGR) is the third best biotech stock with a Zen Score of 66, which is 43 points higher than the biotech industry average of 23. It passed 21 out of 33 due diligence checks and has strong fundamentals. Voyager Therapeutics has seen its stock lose -3.45% over the past year, overperforming other biotech stocks by 23 percentage points.

Voyager Therapeutics has an average 1 year price target of $20.50, an upside of 171.52% from Voyager Therapeutics's current stock price of $7.55.

Voyager Therapeutics stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Voyager Therapeutics, 75% have issued a Strong Buy rating, 25% have issued a Buy, 0% 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 4 biotech stocks that have issued dividends in the past year, the 3 biotech stocks with the highest dividend yields are:

1. Carisma Therapeutics (NASDAQ:CARM)

Carisma Therapeutics (NASDAQ:CARM) has an annual dividend yield of N/A, which is N/A percentage points lower than the biotech industry average of 14.23%.

Carisma Therapeutics's dividend payout ratio of 0% indicates that its dividend yield might not be sustainable for the long-term.

2. Mei Pharma (NASDAQ:MEIP)

Mei Pharma (NASDAQ:MEIP) has an annual dividend yield of 53.85%, which is 40 percentage points higher than the biotech industry average of 14.23%.

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

3. Novo Nordisk A S (NYSE:NVO)

Novo Nordisk A S (NYSE:NVO) has an annual dividend yield of 1.12%, which is -13 percentage points lower than the biotech industry average of 14.23%. Novo Nordisk A S's dividend payout is not stable, having dropped more than 10% eight 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 38.1% indicates that its dividend yield is sustainable for the long-term.

Why are biotech stocks down?

Biotech stocks were down -1.46% in the last day, and down -7.8% over the last week. Nrx Pharmaceuticals was the among the top losers in the biotechnology industry, dropping -27.75% yesterday.

NRX Pharmaceuticals shares are trading lower after the company announced the pricing of a $2 million underwritten public offering.

What are the most undervalued biotech stocks?

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

1. Royalty Pharma (NASDAQ:RPRX)

Royalty Pharma (NASDAQ:RPRX) is the most undervalued biotech stock based on WallStreetZen's Valuation Score. Royalty Pharma has a valuation score of 100, which is 85 points higher than the biotech industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Royalty Pharma's stock has dropped -22.29% in the past year. It has overperformed other stocks in the biotech industry by 4 percentage points.

2. Voyager Therapeutics (NASDAQ:VYGR)

Voyager Therapeutics (NASDAQ:VYGR) is the second most undervalued biotech stock based on WallStreetZen's Valuation Score. Voyager Therapeutics has a valuation score of 100, which is 85 points higher than the biotech industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Voyager Therapeutics's stock has dropped -3.45% in the past year. It has overperformed other stocks in the biotech industry by 23 percentage points.

3. Incyte (NASDAQ:INCY)

Incyte (NASDAQ:INCY) is the third most undervalued biotech stock based on WallStreetZen's Valuation Score. Incyte has a valuation score of 86, which is 71 points higher than the biotech industry average of 15. It passed 6 out of 7 valuation due diligence checks.

Incyte's stock has dropped -28.43% in the past year. It has underperformed other stocks in the biotech industry by -2 percentage points.

Are biotech stocks a good buy now?

48.94% of biotech stocks rated by analysts are a strong buy right now. On average, analysts expect biotech stocks to rise by 88.47% 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 15.68x.

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.