Looking back on therapeutics stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Novavax (NASDAQ: NVAX) and its peers.

Over the next few years, therapeutic companies, which develop a wide variety of treatments for diseases and disorders, face strong tailwinds from advancements in precision medicine (including the use of AI to improve hit rates) and growing demand for treatments targeting rare diseases. However, headwinds such as rising scrutiny over drug pricing, regulatory unknowns, and competition from larger, more resourced pharmaceutical companies could weigh on growth.

The 11 therapeutics stocks we track reported a mixed Q3. As a group, revenues beat analysts’ consensus estimates by 10.5%.

Thankfully, share prices of the companies have been resilient as they are up 7.1% on average since the latest earnings results.

Novavax (NASDAQ: NVAX)

Pioneering a nanoparticle technology that mimics the molecular structure of disease pathogens, Novavax (NASDAQ: NVAX) develops and commercializes protein-based vaccines for infectious diseases, with a primary focus on its COVID-19 vaccine and combination respiratory vaccine candidates.

Novavax reported revenues of $70.45 million, down 16.6% year on year. This print exceeded analysts’ expectations by 61%. Despite the top-line beat, it was still a mixed quarter for the company with a solid beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates.

Novavax achieved the biggest analyst estimates beat of the whole group. Still, the market seems discontent with the results. The stock is down 6.2% since reporting and currently trades at $7.15.

Is now the time to buy Novavax? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Halozyme Therapeutics (NASDAQ: HALO)

Known for transforming hours-long intravenous infusions into minutes-long subcutaneous injections, Halozyme Therapeutics (NASDAQ: HALO) develops and licenses its proprietary ENHANZE technology that enables subcutaneous delivery of injectable drugs that would otherwise require intravenous administration.

Halozyme Therapeutics reported revenues of $354.3 million, up 22.1% year on year, outperforming analysts’ expectations by 3.1%. The business had an exceptional quarter with full-year EBITDA guidance exceeding analysts’ expectations and a solid beat of analysts’ full-year EPS guidance estimates.

Halozyme Therapeutics pulled off the fastest revenue growth among its peers. The market seems happy with the results as the stock is up 6.2% since reporting. It currently trades at $70.31.

Is now the time to buy Halozyme Therapeutics? Access our full analysis of the earnings results here, it’s free for active Edge members.

United Therapeutics (NASDAQ: UTHR)

Founded by a mother seeking treatment for her daughter's pulmonary arterial hypertension, United Therapeutics (NASDAQ: UTHR) develops and commercializes medications for chronic lung diseases and other life-threatening conditions, with a focus on pulmonary hypertension treatments.

United Therapeutics reported revenues of $799.5 million, up 6.8% year on year, falling short of analysts’ expectations by 1.6%. It was a softer quarter as it posted a miss of analysts’ revenue estimates and a significant miss of analysts’ EPS estimates.

United Therapeutics delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 19.3% since the results and currently trades at $495.59.

Read our full analysis of United Therapeutics’s results here.

Moderna (NASDAQ: MRNA)

Rising to global prominence during the COVID-19 pandemic with one of the first effective vaccines, Moderna (NASDAQ: MRNA) develops messenger RNA (mRNA) medicines that direct the body's cells to produce proteins with therapeutic or preventive benefits for various diseases.

Moderna reported revenues of $1.02 billion, down 45.1% year on year. This print surpassed analysts’ expectations by 32.2%. Zooming out, it was a satisfactory quarter as it also logged a beat of analysts’ EPS estimates but full-year revenue guidance missing analysts’ expectations significantly.

Moderna had the slowest revenue growth and weakest full-year guidance update among its peers. The stock is up 31.2% since reporting and currently trades at $30.92.

Read our full, actionable report on Moderna here, it’s free for active Edge members.

Biogen (NASDAQ: BIIB)

Founded in 1978 and pioneering treatments for some of medicine's most complex challenges, Biogen (NASDAQ: BIIB) develops and markets therapies for neurological conditions, including multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, and rare diseases.

Biogen reported revenues of $2.53 billion, up 2.8% year on year. This number beat analysts’ expectations by 8.6%. It was a strong quarter as it also recorded an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

The stock is up 19.4% since reporting and currently trades at $176.50.

Read our full, actionable report on Biogen here, it’s free for active Edge members.

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