9 Best Biotech Stocks Of April 2024 (2024)

BioMarin focuses on genetic diseases and has eight approved treatments, plus 19 more in various stages of testing.

The company has a solid financial health rating, and analysts expect 43% yearly earnings per share, or EPS, growth over the next five years. Sales have steadily increased since 2007 and are expected to increase 14.1% in 2024.

The company made 76 cents per share in 2022 and 89 cents per share in 2023. Analysts expect $1.65 in 2024. That’s impressive growth if BMRN can deliver.

The stock has been trending lower so far in 2024 but recently surged past the lows of a multiyear range in November 2023. The stock is trading below its 52-week high.

Halozyme develops drug-delivery technologies and has testosterone treatments on the market.

HALO has seen average EPS growth over the past five years of 84.8% per year, and analysts expect earnings to continue growing at 25.0% over the next five years. The company has a strong financial health rating from Morningstar and the highest three-year average historical sales growth on this list.

EPS growth in 2024 is expected to be 32.9% on sales growth of 15.1%. The stock fell 6% in the first two months of 2024 but has been recovering since. It remains below its 52-week high. It has a forward price-earnings, or P/E, ratio of 13.4, which is quite attractive for a stock with strong growth potential.

Despite its ups and downs, HALO has beaten the S&P 500 by an average of 5.6 percentage points per year over the past decade.

Incyte produces drugs for a wide range of conditions. It has eight approved drugs and many more in various stages of the development pipeline.

INCY has been steadily increasing its revenue for more than a decade, contributing to its strong financial health rating. EPS is expected to grow by 30.4% on sales growth of 12.3% in 2024.

The forward P/E of 12.5 is attractive on the surface, but the company’s earnings can be erratic. Technically, the stock is trading near the lows of its multi-year range. However, since 2015, the stock has rarely stayed below $65 for long.

Exelixis develops cancer treatments. It has two drugs on the market, along with two others through partnerships. There are more than 15 other drugs in the testing pipeline.

The company has been profitable for the last six years, and sales have steadily risen over the last decade. EPS is forecasted to grow by 89.2% in 2024 on sales growth of 4%. EXEL is near its 52-week high but remains below its all-time high reached in 2017.

The stock price has been moving sideways in a large range since 2019. In the past year, however, the price has risen more than 34%.

MiMedx makes bioimplants and biomaterial used for wound care, burns, surgeries, orthopedics and other functions. It has eight of these products currently on the market.

From 2017 until 2023, MDXG did not generate a profit. However, that all changed last year, and analysts are now projecting EPS of 31 cents in 2024 and 39 cents in 2025. Sales are expected to rise 11.1% this year, which is a significant improvement over stagnant sales during the last several years.

The company’s share price has had a turbulent ride in the last several years as well, trading at more than $15 in 2021 before dropping below $3 in late 2022. The stock has trended higher over the past year and is currently trading near its 52-week high.

Genmab has two FDA-approved medicines on the market and multiple others in the pipeline. The company focuses on antibody-based medicines for cancer and other serious illnesses.

GMAB has steadily grown earnings and sales over the last decade. Earnings have increased an average of 26.5% per year over the last five years, but that is expected to slow slightly to 23.7% per year over the next five years.

The company has a strong financial health rating, and sales are forecasted to increase by 19.9% in 2024.

Vertex has seven FDA-approved therapies and many others in various stages of testing. These include treatments for cystic fibrosis, pain, sickle cell disease, diabetes and other illnesses.

Vertex has seen one of the highest historical EPS growth trajectories on this list, averaging a 29.8% increase per year over the last five years. However, investors can expect slower growth going forward. Analysts expect EPS to grow by about 12.9% per year over the coming five-year period. Sales are expected to grow by 8.6% this year.

VRTX has trended higher over the past year. The current P/E of 25.2 is a fair value, as P/E values have mainly stayed between 20 and 30 over the last three years.

Bio-Techne develops instruments and reagents used in medical research and diagnostics. The company handles custom manufacturing of health products and also provides testing services.

Analysts expect average earnings increases of 7.7% per year over the next five years. While over the past five years, earnings have already increased an average of 14.6% per year. TECH has a strong financial health rating from Morningstar.

TECH had been trading lower in 2024 but recently rebounded. It is still trading below its 52-week high. The P/E of 38.9 may seem high, but that is actually fairly low for this stock, which often trades at a high P/E. Over the last five years, P/E values have ranged between 34.8 and 150.5.

Jazz primarily focuses on neuroscience and oncology. It has nine approved drugs on the market.

After a long string of profitable years, JAZZ lost money in 2021 and 2022. After a strong return to profitability in 2023, analysts predict earnings of $18.97 per share in 2024. Earnings are expected to increase by 3.7% in 2024 on sales growth of 7.2%.

As of March 8, JAZZ has a low forward P/E of 6.3, making it an attractive value play if the company can generate the earnings expected. The stock is trading near the lowest level it has seen since 2021.