Best Biotech Stocks to Buy in 2026 and How to Invest in Them

Biotech stocks focus on companies developing new and previously unimaginable ways to treat and prevent diseases. Many of the strongest players pair promising drug pipelines with successful treatments already on the market.

Some scientists believe that we’re in the golden age of biotechnology. If you’re looking to invest in this fast-moving space, a few biotech stocks stand out right now.

1. Axsome Therapeutics

Axsome's (AXSM -0.16%) revenue is soaring thanks to strong momentum for two drugs -- Auvelity and Sunosi. The company launched Auvelity in October 2022 as a treatment for major depressive disorder. It acquired sleep disorder drug Sunosi from Jazz Pharmaceuticals (JAZZ -0.42%) in May 2022.

In January 2025, Axsome added a third product to its lineup with the U.S. Food and Drug Administration (FDA) approval of Symbravo for treating migraines. The drug could have significant commercial potential, with current migraine therapies not as effective as desired for many patients.

The U.S. Food and Drug Administration (FDA) set a PDUFA date of April 30, 2026, to make an approval decision on AXS-05 (Auvelity) for the treatment of Alzheimer's disease agitation. Axsome also hopes to win FDA approval for AXS-12 for the treatment of narcolepsy in the near future.

2. BioNTech

BioNTech (BNTX +2.21%) hit the jackpot with its 2020 collaboration with Pfizer (PFE -0.14%) to develop a COVID-19 vaccine. Although sales for the vaccine the two partners market together, Comirnaty, have fallen since the end of the COVID-19 pandemic, BioNTech now has a huge cash stockpile as a result of the vaccine's success.

The German biotech innovator is still working on developing new vaccines for fighting viruses. It's evaluating a seasonal flu vaccine and a combination flu-COVID vaccine in late-stage testing. Both programs are collaborations with Pfizer.

However, BioNTech's big opportunity is in treating cancer. The company's pipeline features more than 20 phase 2 and phase 3 clinical trials targeting various types of cancer.

3. Exelixis

Exelixis (EXEL -2.81%) has developed four drugs that are already on the market. Its biggest winner, by far, is Cabometyx, which is approved to treat renal cell carcinoma (RCC) and hepatocellular carcinoma (HC) -- the most common types of kidney cancer and liver cancer, respectively -- as well as thyroid cancer.

Exelixis and big drugmaker Bristol Myers Squibb (BMY -1.73%) won U.S. regulatory approval in early 2021 for the use of Cabometyx in combination with Bristol Myers' immunotherapy drug Opdivo. The company is also evaluating Cabometyx in combination with other drugs in late-stage studies targeting several types of cancer.

The next major growth driver for Exelixis could be zanzalintinib. The company reported positive results in June 2025 from a late-stage study of the drug targeting colorectal cancer. It's also evaluating zanzalintinib in combination with Opdivo in a late-stage study targeting non-clear cell renal cell carcinoma.

4. Regeneron

The biggest moneymaker for Regeneron (REGN -0.15%) is Eylea, an eye disease drug that the company makes in collaboration with Bayer (BAYR.Y +0.83%). All net sales of Eylea in the U.S. are awarded to Regeneron, and the company splits revenue from markets outside the U.S. with Bayer.

Regeneron also has a lucrative partnership with Sanofi (SNY -0.15%), another life sciences and pharmaceutical company. Together, the two companies are marketing and selling the autoimmune disease drugs Dupixent and Kevzara, the cancer drugs Libtayo and Zaltrap, and the cholesterol drug Praluent.

The company won initial approval from the FDA in February 2021 for Evkeeza in treating homozygous familial hypercholesterolemia (HoFH), a rare form of high cholesterol, in patients ages 12 and older. It also picked up an additional approval for the drug in March 2023 for treating HoFH patients between the ages of 5 and 11.

Regeneron also now has another drug in its lineup. The company won FDA approval of Lynozyfic (linvoseltamab) in treating relapsed/refractory multiple myeloma in July 2025. Its pipeline also includes 14 late-stage programs..

5. Vertex Pharmaceuticals

Vertex (VRTX -0.46%), which makes multiple cystic fibrosis (CF) drugs, enjoys a monopoly over sales of treatments for the underlying cause of CF. Its dominance in CF was bolstered by the December 2024 approval of Alyftrek.

CF isn't Vertex's only market now, though. The big biotech company is ramping up commercialization efforts for Casgevy, a gene-editing therapy approved to treat two rare blood disorders -- sickle cell disease and transfusion-dependent beta-thalassemia.

Vertex also won FDA approval in January 2025 for Journavx (suzetrigine). This non-opioid drug is the first new type of pain medication approved in more than 20 years.

The company awaits accelerated approval for povetacicept in treating chronic kidney disorder IgA nephropathy. Vertex's pipeline also includes other promising candidates, including inaxaplin, which targets APOL1-mediated kidney disease.

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