Biotechnology Stocks — Fair Value & Margin of Safety

Equity Rank covers 194 Biotechnology companies; 62 have a published model fair value, and 22 of those (35%) trade below the model estimate. The median model fair value sits 6.2% below the current price, under these model assumptions. Data as of 2026-10-22.

Source: Equity Rank — Biotechnology stocks. Model fair value is a multi-method blend (DCF, Graham Number, earnings power, sector multiples and more), recomputed after each U.S. market close.

Biotechnology stocks furthest below the model estimate

Among companies valued by at least five methods. A wide gap can also mean the models are missing something.

  1. HRMY — Harmony Biosciences Holdings: model fair value $72.38 vs. price $36.03, a model fair value differential of 100.9% above the current price (as of 2026-10-22)
  2. ZVRA — Zevra Therapeutics Inc.: model fair value $17.25 vs. price $10.33, a model fair value differential of 67.0% above the current price (as of 2026-10-22)
  3. INCY — Incyte Corporation: model fair value $194.25 vs. price $116.93, a model fair value differential of 66.1% above the current price (as of 2026-10-22)
  4. INVA — Innoviva Inc: model fair value $34.70 vs. price $21.06, a model fair value differential of 64.8% above the current price (as of 2026-10-22)
  5. PBYI — Puma Biotechnology Inc: model fair value $16.27 vs. price $11.26, a model fair value differential of 44.5% above the current price (as of 2026-10-22)
  6. RIGL — Rigel Pharmaceuticals Inc: model fair value $69.64 vs. price $48.86, a model fair value differential of 42.5% above the current price (as of 2026-10-22)
  7. ACAD — ACADIA Pharmaceuticals Inc: model fair value $25.79 vs. price $20.31, a model fair value differential of 27.0% above the current price (as of 2026-10-22)
  8. REGN — Regeneron Pharmaceuticals Inc: model fair value $1024.52 vs. price $819.09, a model fair value differential of 25.1% above the current price (as of 2026-10-22)
  9. AUPH — Aurinia Pharmaceuticals Inc: model fair value $20.87 vs. price $17.32, a model fair value differential of 20.5% above the current price (as of 2026-10-22)
  10. EXEL — Exelixis Inc: model fair value $76.32 vs. price $65.31, a model fair value differential of 16.9% above the current price (as of 2026-10-22)

All 194 Biotechnology companies

TickerCompanyPriceModel fair valueGap
VRTXVertex Pharmaceuticals Inc$535.17$492.46-8.0%
MRNAModerna Inc$202.62Not published—
REGNRegeneron Pharmaceuticals Inc$819.09$1024.52+25.1%
ARGXargenx NV ADR$875.76$879.29+0.4%
ONCBeiGene, Ltd.$383.08$258.78-32.5%
RVMDRevolution Medicines Inc$187.69Not published—
RPRXRoyalty Pharma Plc$63.75$43.42-31.9%
ALNYAlnylam Pharmaceuticals Inc$227.28$220.56-3.0%
GMABGenmab AS$40.00$43.74+9.3%
INCYIncyte Corporation$116.93$194.25+66.1%
BNTXBioNTech SE$89.67Not published—
INSMInsmed Inc$95.06Not published—
EXELExelixis Inc$65.31$76.32+16.9%
ASNDAscendis Pharma AS$242.99Not published—
HALOHalozyme Therapeutics Inc$124.54$84.01-32.5%
JAZZJazz Pharmaceuticals PLC$214.65$241.79+12.6%
BBIOBridgeBio Pharma Inc$68.07Not published—
SMMTSummit Therapeutics PLC$15.55Not published—
CORTCorcept Therapeutics Incorporated$107.50$88.62-17.6%
TECHBio-Techne Corp$72.62$39.57-45.5%
BMRNBiomarin Pharmaceutical Inc$56.63$50.67-10.5%
MDGLMadrigal Pharmaceuticals Inc$453.34$408.32-9.9%
PCVXVaxcyte Inc$62.85Not published—
KRYSKrystal Biotech Inc$320.13$202.30-36.8%
TWSTTwist Bioscience Corp$135.47Not published—
KYMRKymera Therapeutics Inc$110.85Not published—
IBRXImmunitybio Inc$8.31Not published—
PTGXProtagonist Therapeutics Inc$139.53$122.42-12.3%
CYTKCytokinetics Inc$62.33Not published—
CAICaris Life Sciences, Inc. Common Stock$31.71$30.29-4.5%
SYRESpyre Therapeutics Inc.$92.33Not published—
AXSMAxsome Therapeutics Inc$156.07Not published—
TGTXTG Therapeutics Inc$53.16$52.59-1.1%
ARWRArrowhead Pharmaceuticals Inc$59.89$51.45-14.1%
ABVXAbivax SA American Depositary Shares$90.23Not published—
IONSIonis Pharmaceuticals Inc$43.91Not published—
PRAXPraxis Precision Medicines Inc$258.92Not published—
IOVAIovance Biotherapeutics Inc$14.14Not published—
RYTMRhythm Pharmaceuticals Inc$90.90Not published—
BLTEBelite Bio Inc ADR$150.27Not published—
LGNDLigand Pharmaceuticals Incorporated$307.82$246.61-19.9%
IMVTImmunovant Inc$29.10Not published—
KODKodiak Sciences Inc$85.78Not published—
MIRMMirum Pharmaceuticals Inc$83.10$72.54-12.7%
CGONCG Oncology, Inc. Common stock$62.54Not published—
COGTCogent Biosciences Inc$31.31Not published—
ORKAOruka Therapeutics, Inc.$81.15Not published—
PTCTPTC Therapeutics Inc$63.04Not published—
ERASErasca Inc$14.04Not published—
SRRKScholar Rock Holding Corp$41.96Not published—
TVTXTravere Therapeutics Inc$52.43$46.33-11.6%
CRSPCrispr Therapeutics AG$49.99Not published—
DFTXDefinium Therapeutics, Inc.$36.00Not published—
EWTXEdgewise Therapeutics Inc$39.99$47.64+19.1%
DNTHDianthus Therapeutics Inc.$78.53Not published—
TNGXTango Therapeutics Inc$27.93Not published—
ARQTArcutis Biotherapeutics Inc$32.20$24.30-24.5%
RLAYRelay Therapeutics, Inc.$18.34Not published—
ABCLAbcellera Biologics Inc$11.37Not published—
TLXTelix Pharmaceuticals Limited$9.54$7.39-22.5%
LEGNLegend Biotech Corp$18.90$17.75-6.1%
ACADACADIA Pharmaceuticals Inc$20.31$25.79+27.0%
XENEXenon Pharmaceuticals Inc$36.50Not published—
IDYAIdeaya Biosciences Inc$36.12$30.08-16.7%
VKTXViking Therapeutics Inc$25.83Not published—
TARSTarsus Pharmaceuticals Inc$72.08$66.21-8.1%
DYNDyne Therapeutics Inc$15.77Not published—
ELVNEnliven Therapeutics Inc.$41.93Not published—
DNLIDenali Therapeutics Inc$18.66Not published—
CELCCelcuity LLC$65.57Not published—
IRONDisc Medicine Inc.$75.03Not published—
NRIXNurix Therapeutics Inc$25.51$24.73-3.1%
ZLABZai Lab Ltd$22.04$21.03-4.6%
MRVIMaravai Lifesciences Holdings Inc$7.07$6.35-10.2%
MBXMBX Biosciences, Inc. Common Stock$50.46Not published—
BEAMBeam Therapeutics Inc.$24.56Not published—
NAMSNewAmsterdam Pharma Company N.V. Ordinary Shares$21.58$18.19-15.7%
ADMAADMA Biologics Inc$10.95$11.61+6.0%
SLSSellas Life Sciences Group Inc$11.35Not published—
PGENPrecigen Inc$6.39Not published—
RCUSArcus Biosciences Inc$19.36Not published—
HRMYHarmony Biosciences Holdings$36.03$72.38+100.9%
AUPHAurinia Pharmaceuticals Inc$17.32$20.87+20.5%
AGIOAgios Pharm$37.19Not published—
PHVSPharvaris BV$30.68Not published—
FTREFortrea Holdings Inc.$23.92Not published—
VERAVera Therapeutics Inc$29.05Not published—
IMNMImmunome Inc$18.26Not published—
VCELVericel Corp Ord$42.97$23.97-44.2%
SRPTSarepta Therapeutics Inc$18.18Not published—
LKFTLakefront Biotherapeutics NV$31.40Not published—
RXRXRecursion Pharmaceuticals Inc$3.58Not published—
ZYMEZymeworks Inc. Common Stock$28.44Not published—
MLYSMineralys Therapeutics, Inc. Common Stock$21.47Not published—
NVAXNovavax Inc$9.99Not published—
XNCRXencor Inc$25.84$21.53-16.7%
ZBIOZenas BioPharma, Inc. Common Stock$28.23Not published—
TRVITrevi Therapeutics Inc$12.94Not published—
MAZEMaze Therapeutics, Inc. Common Stock$31.95Not published—
PVLAPalvella Therapeutics, Inc$126.39Not published—
BHVNBiohaven Ltd.$14.69Not published—
STOKStoke Therapeutics Inc$25.70$20.63-19.7%
URGNUroGen Pharma Ltd$35.15Not published—
IMCRImmunocore Holdings Ltd$32.12$30.06-6.4%
NTLAIntellia Therapeutics Inc$11.16Not published—
GPCRStructure Therapeutics Inc. American Depositary Shares$21.93Not published—
MESOMesoblast Ltd$12.55$12.38-1.4%
RAREUltragenyx$15.95Not published—
QUREUniqure NV$23.11Not published—
INVAInnoviva Inc$21.06$34.70+64.8%
AAPGAscentage Pharma Group International$14.92Not published—
OCULOcular Therapeutix Inc$6.61Not published—
ORICOric Pharmaceuticals Inc$13.63Not published—
KRSAKorsana Biosciences, Inc.$33.43Not published—
RAPPRapport Therapeutics, Inc. Common Stock$26.53Not published—
TYRATyra Biosciences Inc$20.87Not published—
INBXInhibrx Biosciences, Inc.$97.10Not published—
ANABAnaptysBio Inc$48.10$48.15+0.1%
NKTRNektar Therapeutics$38.65Not published—
LBRXLB Pharmaceuticals Inc Common Stock$39.42$40.14+1.8%
GHRSGH Research PLC$18.50Not published—
DMRADamora Therapeutics, Inc.$21.71Not published—
NBTXNanobiotix$29.19Not published—
SLNSilence Therapeutics plc$19.66Not published—
BCAXBicara Therapeutics Inc. Common Stock$17.61Not published—
DRTSAlpha Tau Medical Ltd$12.90Not published—
OMEROmeros Corporation$16.86$17.49+3.7%
SNDXSyndax Pharmaceuticals Inc$13.57Not published—
IMTXImmatics NV$7.54Not published—
REPLReplimune Group Inc$11.99Not published—
JANXJanux Therapeutics Inc$17.06Not published—
VORVor Biopharma Inc$18.94Not published—
GLUEMonte Rosa Therapeutics Inc$11.11$9.57-13.9%
ANROAlto Neuroscience, Inc.$22.20Not published—
MGTXMeiraGTx Holdings PLC$9.77$9.63-1.4%
CGEMCullinan Oncology LLC$14.92Not published—
JBIOJade Biosciences, Inc.$14.91Not published—
AVBPArriVent BioPharma, Inc. Common Stock$19.20Not published—
MLTXMoonLake Immunotherapeutics$12.34Not published—
RIGLRigel Pharmaceuticals Inc$48.86$69.64+42.5%
KURAKura Oncology Inc$9.86Not published—
ALMSAlumis Inc$6.82Not published—
CRVSCorvus Pharmaceuticals Inc$10.65Not published—
VSTMVerastem Inc$10.06Not published—
IMMXImmix Biopharma Inc$8.35Not published—
SGMTSagimet Biosciences Inc. Series A Common Stock$9.95$8.33-16.3%
PHARPharming Group NV$10.67$9.33-12.6%
SLDBSolid Biosciences LLC$6.19Not published—
ANLAdlai Nortye Ltd. American Depositary Shares$10.58Not published—
AURAAura Biosciences Inc$6.46Not published—
NVCTNuvectis Pharma Inc$20.89Not published—
ACHVAchieve Life Sciences Inc$6.50Not published—
DNAGinkgo Bioworks Holdings$9.71Not published—
CADLCandel Therapeutics Inc$8.38Not published—
GYREGyre Therapeutics Inc.$5.86$4.63-21.0%
SVASinovac Biotech Ltd$6.47Not published—
OLMAOlema Pharmaceuticals Inc$7.02Not published—
ZVRAZevra Therapeutics Inc.$10.33$17.25+67.0%
CLYMClimb Bio Inc$10.54Not published—
STTKShattuck Labs Inc$5.60Not published—
DBVTDBV Technologies$9.68Not published—
PHATPhathom Pharmaceuticals Inc$7.02Not published—
CRMDCorMedix Inc$8.10$20.95+158.6%
PBYIPuma Biotechnology Inc$11.26$16.27+44.5%
DRUGBright Minds Biosciences Inc$52.69Not published—
VALNValneva SE ADR$5.36Not published—
FTHFaeth Therapeutics, Inc.$20.10Not published—
NGNENeurogene Inc$24.28Not published—
EPRXEupraxia Pharmaceuticals Inc. Common Stock$7.61Not published—
MNPRMonopar Therapeutics Inc$72.58Not published—
ARVNArvinas Inc$7.72$9.22+19.4%
RGNXRegenxbio Inc$7.17Not published—
CBIOCrescent Biopharma, Inc.$13.14Not published—
DMACDiaMedica Therapeutics Inc$8.63Not published—
OCSOculis Holding AG Ordinary shares$8.09Not published—
PRTAProthena Corporation plc$8.25Not published—
ASMBAssembly Biosciences Inc$20.28$19.89-1.9%
TECXTectonic Therapeutic, Inc.$21.09Not published—
YDESYD Bio Ltd$4.24Not published—
CAPRCapricor Therapeutics Inc$6.13$5.09-17.0%
KYTXKyverna Therapeutics, Inc. Common Stock$5.73Not published—
FENCFennec Pharmaceuticals Inc$10.32$8.85-14.2%
ENTAEnanta Pharmaceuticals Inc$11.62Not published—
ARCTArcturus Therapeutics Holdings Inc$10.73Not published—
CTNMContineum Therapeutics, Inc. Class A Common Stock$8.39$7.02-16.4%
TTRXTurn Therapeutics Inc. Common Stock$10.18Not published—
ARTVArtiva Biotherapeutics, Inc. Common Stock$6.20Not published—
BNTCBenitec Biopharma Inc.$8.82Not published—
SRZNSurrozen Inc$25.75Not published—
AGENAgenus Inc$6.51$11.28+73.3%
QTTBQ32 Bio Inc$8.80$9.92+12.7%
GLSIGreenwich Lifesciences Inc$15.57Not published—
RNACCartesian Therapeutics Inc.$6.41Not published—
STROSutro Biopharma$10.29Not published—

Largest companies first. Gap = model fair value differential versus the current price; positive means the price sits below the model estimate. “Not published” means the models lacked reliable data.

Compare Biotechnology peers

VRTX vs REGN · VRTX vs ARGX · VRTX vs ONC · VRTX vs RPRX · VRTX vs ALNY · REGN vs ARGX · REGN vs ONC · REGN vs RPRX · REGN vs ALNY · ARGX vs ONC · ARGX vs RPRX · ARGX vs ALNY · ONC vs RPRX · ONC vs ALNY · RPRX vs ALNY

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