Earnings results often indicate what direction a company will take in the months ahead. With Q1 behind us, let’s have a look at Natera (NASDAQ: NTRA) and its peers.

The biotechnology industry is defined by its high-risk, high-reward business model, as companies invest heavily in research and development to create innovative therapies and treatments. Breakthroughs can lead to transformative, patent-protected revenue streams. Companies in this space are also increasingly relying on AI and data to maximize the speed and efficiency of drug discovery. On the other hand the lengthy and expensive process of clinical trials and regulatory approval makes profitability uncertain and timelines unpredictable.

The 14 biotechnology stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 13%.

Luckily, biotechnology stocks have performed well with share prices up 12.3% on average since the latest earnings results.

Natera (NASDAQ: NTRA)

Founded in 2003 as Gene Security Network before rebranding in 2012, Natera (NASDAQ: NTRA) develops and commercializes genetic tests for prenatal screening, cancer detection, and organ transplant monitoring using its proprietary cell-free DNA technology.

Natera reported revenues of $696.6 million, up 38.8% year on year. This print exceeded analysts’ expectations by 13.5%. Overall, it was a satisfactory quarter for the company.

“We had an outstanding first quarter, reaching over one million units processed in a single quarter for the first time and delivering strong growth across all areas,” said Steve Chapman, chief executive officer of Natera.

Interestingly, the stock is up 26.1% since reporting and currently trades at $277.25.

Is now the time to buy Natera? Access our full analysis of the earnings results here, it’s free.

Best Q1: 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 $389 million, up 260% year on year, outperforming analysts’ expectations by 55.8%. The business had an incredible quarter with a beat of analysts’ EPS estimates.

Moderna delivered the fastest revenue growth in the group. The market seems happy with the results as the stock is up 48.7% since reporting. It currently trades at $68.32.

Is now the time to buy Moderna? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: 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 $781.5 million, down 1.6% year on year, falling short of analysts’ expectations by 1.9%. It was a disappointing quarter as it posted a significant miss of analysts’ EPS estimates.

United Therapeutics delivered the weakest performance against analyst estimates of the whole group. As expected, the stock is down 6.2% since the results and currently trades at $537.00.

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

Regeneron (NASDAQ: REGN)

Founded by scientists who wanted to build a company where science could thrive, Regeneron Pharmaceuticals (NASDAQ: REGN) develops and commercializes medicines for serious diseases, with key products treating eye conditions, allergic diseases, cancer, and other disorders.

Regeneron reported revenues of $3.61 billion, up 19% year on year. This result beat analysts’ expectations by 3.8%. Overall, it was a very strong quarter as it also logged a beat of analysts’ EPS estimates.

The stock is down 9.6% since reporting and currently trades at $661.50.

Read our full, actionable report on Regeneron here, it’s free.

Amgen (NASDAQ: AMGN)

Founded in 1980 during the early days of the biotechnology revolution, Amgen (NASDAQ: AMGN) is a biotechnology company that discovers, develops, and manufactures innovative medicines to treat serious illnesses like cancer, osteoporosis, and autoimmune diseases.

Amgen reported revenues of $8.62 billion, up 5.8% year on year. This number surpassed analysts’ expectations by 1.4%. Aside from that, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates but full-year revenue guidance meeting analysts’ expectations.

The stock is up 3.1% since reporting and currently trades at $356.98.

Read our full, actionable report on Amgen here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.