Are cancer stocks a good investment?

Some cancer stocks can be attractive options for investors. Note, though, that the stocks of clinical-stage companies developing cancer drugs can be risky. Larger drugmakers focusing on cancer can also face risks, including patent expirations.

What companies are creating medication for cancer?

Many companies both large and small are developing cancer medications. They include big drugmakers such as Eli Lilly, Johnson & Johnson, and Pfizer, as well as other biopharmaceutical companies such as BeOne Medicines.

What is the best cancer stock?

There's no "best" cancer stock for all investors. A cancer stock that's ideal for one investor might not be a good fit for another because of different investment objectives and risk tolerances.

Do cancer stocks pay dividends?

Many cancer stocks do pay dividends, but not all. Generally speaking, large pharmaceutical companies that develop cancer drugs are most likely to have dividend programs.

Can small-cap cancer stocks offer higher growth potential?

Yes, small-cap cancer stocks can offer significant growth potential. However, they are also usually riskier than large-cap and mid-cap cancer stocks.

Best Cancer Stocks for 2026 and How to Invest

Learn about some of the leading cancer stocks in the U.S. stock market this year.

By Keith Speights – Updated May 19, 2026 at 11:16 AM EST | Fact-checked by Margo Winton Parodi

Key Points

Investing in cancer stocks links to aiding in cancer diagnosis and treatment, which remains a critical health issue.
Financial opportunity in cancer treatment is expected to rise from $209 billion in 2020 to over $246 billion by 2030.
Investors can consider companies like Guardant Health and Illumina, pioneers in diagnostic advances.

Cancer stocks are shares of publicly traded companies that focus on the diagnosis and treatment of cancer. Despite significant progress, cancer continues to be the second-leading cause of death in the U.S. More than 2 million new cases of cancer are likely to be diagnosed in the U.S. this year. More than 626,000 deaths are expected from cancer in 2026.

There's also a huge financial cost that's growing rapidly. In 2020, treating cancer in the U.S. cost roughly $209 billion. By 2030, the total is projected to exceed $246 billion.

But with every problem comes an opportunity -- in this case, a massive one. Investors can help both large and small companies that are developing new ways to diagnose and treat cancer. Here's what you need to know about some of the leading cancer-focused healthcare stocks that investors should consider.

4 top cancer stocks for 2026

Cancer stocks include drugmakers focused on developing cancer therapies and companies developing products used for cancer screening. Some of these stocks are highly volatile, such as early-stage biotech stocks. Others are more established and less risky. Here are four top cancer stocks to consider that include both small and large companies.

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Ticker Information Table
Name and ticker	Current price	Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary.	Industry
Guardant Health (NASDAQ:GH)	$155.96	$20.7 billion	Healthcare Providers and Services
Illumina (NASDAQ:ILMN)	$186.65	$28.2 billion	Life Sciences Tools and Services
Pfizer (NYSE:PFE)	$25.09	$142.8 billion	Pharmaceuticals
BeOne Medicines Ag (NASDAQ:ONC)	$312.07	$31.9 billion	Biotechnology

Data as of Jul 19, 2026. Showing 4 of 4 total entries.

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1. Guardant Health

NASDAQ: GH

Guardant Health

Today's Change

(0.62%) $0.96

Current Price

$155.96

Key Data Points

Market Cap

$21B

Day's Range

$151.24 - $157.31

52wk Range

$40.35 - $174.08

Volume

77.7K

Avg Vol

2.7M

Gross Margin

64.90%

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Guardant Health (GH +0.62%) stands out as a pioneer in liquid biopsy, a blood test that detects tiny amounts of DNA that have broken away from tumor cells.

The company first achieved success with its Guardant360 product, a liquid biopsy used to help determine the appropriate therapy for cancer patients. The Guardant360 CDx product is the first liquid biopsy approved by the U.S. Food and Drug Administration (FDA) for all advanced solid tumors. It's also used as a companion diagnostic to identify patients with non-small cell lung cancer (NSCLC) who could potentially benefit from treatment with AstraZeneca's (NASDAQ:AZN) Tagrisso, Johnson & Johnson's (JNJ +1.22%) Rybrevant, or Amgen's (AMGN -1.40%) Lumakras.

Guardant Health also offers a tissue biopsy product, Guardant360 TissueNext, designed to be ordered with the Guardant360 CDx test. Its Guardant360 Response test helps doctors determine if a cancer therapy is working with patients. In addition, Guardant Health markets Guardant Reveal, the first blood-only test that can detect residual and recurrent cancer in less than two weeks without requiring a tissue biopsy.

The company's total addressable market in cancer treatment selection and recurrence monitoring is about $30 billion per year. However, Guardant Health has a much larger market opportunity of $50 billion annually in the U.S. alone for early-stage cancer detection.

Guardant Health won U.S. Food and Drug Administration (FDA) approval for its Shield blood test for screening colorectal cancer in July 2024. The company hopes to expand Shield to include lung cancer as the next step in its goal to have a multicancer early-stage test.

2. Illumina

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NASDAQ: ILMN

Illumina

Today's Change

(-1.89%) $-3.60

Current Price

$186.65

Key Data Points

Market Cap

$28B

Day's Range

$184.06 - $190.25

52wk Range

$88.00 - $196.66

Volume

1.3M

Avg Vol

1.9M

Gross Margin

67.14%

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Gene-sequencing giant Illumina (ILMN -1.89%) is also a major competitor in the cancer therapy selection market. Its TruSight companion diagnostic tests are used by several biopharmaceutical companies, including Bristol Myers Squibb (BMY +0.38%) and Merck (MRK -0.10%).

In June 2024, Illumina spun off Grail (GRAL +0.92%), a company that develops liquid biopsy products. However, the company still owns a 14.5% stake in Grail.

Arguably, the greatest value Illumina provides in the fight against cancer is the use of its gene-sequencing systems by researchers around the world. Around 21,000 Illumina systems are installed worldwide.

Of course, genomic sequencing isn't just important in cancer research. Illumina's technology is used across a wide range of areas, including research on genetic and infectious diseases, non-invasive prenatal testing, drug discovery, and proteomics (the large-scale study of proteins).

3. Pfizer

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NYSE: PFE

Pfizer

Today's Change

(-0.22%) $-0.06

Current Price

$25.09

Key Data Points

Market Cap

$143B

Day's Range

$24.98 - $25.64

52wk Range

$23.11 - $28.75

Volume

909.6K

Avg Vol

41.4M

Gross Margin

65.16%

Dividend Yield

6.87%

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Pfizer (PFE -0.36%) currently markets four blockbuster oncology therapies -- breast cancer drug Ibrance, prostate cancer drug Xtandi, bladder cancer drug Padcev, and blood cancer drug Adcetris. The company also has eight other cancer drugs that generate annual sales of at least $100 million.

Cancer is also a top focus for Pfizer's pipeline. The drugmaker has more than 50 oncology programs in clinical testing. While several of these programs target additional indications for drugs that have already been approved, Pfizer also has promising new candidates, including the experimental breast cancer drug atirmociclib.

The pharma giant has also used its large cash stockpile for key acquisitions that bolster its oncology prospects. For example, Pfizer acquired Trillium Therapeutics in 2021 to obtain its blood cancer programs. And in 2023, it acquired Seagen, a leader in developing antibody-drug conjugates targeting cancer.

Pfizer's success doesn't hinge entirely on its oncology products and pipeline, though. The company is a leader in the migraine therapy market, with Nurtec ODT delivering strong sales growth.

4. BeOne Medicines

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NASDAQ: ONC

BeOne Medicines Ag

Today's Change

(-1.69%) $-5.35

Current Price

$312.07

Key Data Points

Market Cap

$32B

Day's Range

$303.67 - $315.17

52wk Range

$253.95 - $385.22

Volume

24.5K

Avg Vol

283.5K

Gross Margin

86.15%

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BeOne Medicines (ONC -1.69%), formerly known as BeiGene, markets blood cancer drug Brukinsa and esophageal cancer drug Tevimbra in the U.S. and other countries. Brukinsa is the company's flagship product, with sales continuing to grow strongly.

The company recently added another cancer therapy to its lineup. The U.S. Food and Drug Administration (FDA) granted accelerated approval in May 2026 to Beqalzi (sonrotoclax) for the treatment of adult patients with relapsed or refractory mantle cell lymphoma.

BeOne could possibly have another approval on the way as well. The drugmaker hopes to file for accelerated approval in the second half of 2026 for BGB-16673, a Bruton tyrosine kinase (BTK) chimeric degradation compound (CDAC), pending positive results from a Phase 2 study.

How to invest in cancer stocks

Follow these steps to invest in cancer stocks.

Open your brokerage account: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in cancer stocks

The benefits of investing in cancer stocks include:

Potential for significant long-term returns
Relatively recession-resistant investment alternatives
Allows investing in a way that could help save lives

However, there are also risks of investing in cancer stocks, such as:

Volatility
The potential for losses, especially with clinical-stage drugmakers
Technological obsolescence if other companies develop safer and/or more effective products

Should you invest in cancer stocks?

Whether you should invest in cancer stocks depends largely on two key factors: your investment style and the specific cancer stocks you're considering.

Aggressive growth investors probably won't be interested in a cancer stock like Illumina or Pfizer. However, Guardant Health or BeOne Medicines could be appealing to these investors.

On the other hand, income investors won't like BeOne, Guardant Health, or Illumina. None of these stocks currently offers dividends. Income investors could be very interested in Pfizer, though. The big drugmaker pays a juicy dividend yield. Similarly, value investors might also like Pfizer but turn their noses up at the other three stocks.

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FAQ

Cancer stocks FAQ

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About the Author

Keith Speights is a contributing Motley Fool healthcare analyst covering publicly traded companies across pharmaceuticals, biotechnology, medical devices, technology, and marijuana. Prior to The Motley Fool, Keith was CEO of Constant Care Technology, a healthcare technology company; vice president of American HealthTech, a healthcare software company; and a director of operations for Blue Cross Blue Shield of Mississippi, a health insurer. He holds a B.S. in Industrial Engineering from Mississippi State University.

TMFFishBiz

Keith Speights has positions in Bristol Myers Squibb and Pfizer. The Motley Fool has positions in and recommends Amgen, Bristol Myers Squibb, Guardant Health, Merck, Pfizer, and Summit Therapeutics. The Motley Fool recommends Grail, Illumina, and Johnson & Johnson. The Motley Fool has a disclosure policy.

Best Cancer Stocks for 2026 and How to Invest

Learn about some of the leading cancer stocks in the U.S. stock market this year.

Key Points

4 top cancer stocks for 2026

1. Guardant Health

Key Data Points

2. Illumina

Key Data Points

3. Pfizer

Key Data Points

4. BeOne Medicines

Key Data Points

How to invest in cancer stocks

Benefits and risks of investing in cancer stocks

Should you invest in cancer stocks?

Related investing topics

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FAQ

Cancer stocks FAQ

Are cancer stocks a good investment?

Are cancer stocks a good investment?

What companies are creating medication for cancer?

What companies are creating medication for cancer?

What is the best cancer stock?

What is the best cancer stock?

Do cancer stocks pay dividends?

Do cancer stocks pay dividends?

Can small-cap cancer stocks offer higher growth potential?

Can small-cap cancer stocks offer higher growth potential?

About the Author

Read Next

Stocks Mentioned

Motley Fool Stock Advisor’s Latest Pick

Premium Investing Services

4 top cancer stocks for 2026

Key Data Points

3. Pfizer

Key Data Points

4. BeOne Medicines

Benefits and risks of investing in cancer stocks

Should you invest in cancer stocks?

5 Best Marijuana Stocks for 2026 and How to Invest

5 Best Psychedelic Stocks for 2026 and How to Invest

Best Stocks to Buy in July 2026

6 Best Healthcare Stocks for 2026 and How to Invest

Cancer stocks FAQ

Are cancer stocks a good investment?

Are cancer stocks a good investment?

What companies are creating medication for cancer?

What companies are creating medication for cancer?

What is the best cancer stock?

What is the best cancer stock?

Do cancer stocks pay dividends?

Do cancer stocks pay dividends?

Can small-cap cancer stocks offer higher growth potential?

Can small-cap cancer stocks offer higher growth potential?

Key Data Points

Key Data Points

How to invest in cancer stocks

2. Illumina