The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how biotechnology stocks fared in Q2, starting with Natera (NASDAQ: NTRA).

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 very strong Q2. As a group, revenues beat analysts’ consensus estimates by 8.9%.

In light of this news, share prices of the companies have held steady as they are up 4.3% 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 $752.8 million, up 37.7% year on year. This print exceeded analysts’ expectations by 13.6%. Overall, it was a stunning quarter for the company with full-year revenue guidance exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Interestingly, the stock is up 18.7% since reporting and currently trades at $315.13.

Read why we think that Natera is one of the best biotechnology stocks, our full report is free.

Best Q2: 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 $4.29 billion, up 16.7% year on year, outperforming analysts’ expectations by 12.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 16.5% since reporting. It currently trades at $810.22.

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

Weakest Q2: Myriad Genetics (NASDAQ: MYGN)

Founded in 1991 as one of the pioneers in translating genetic discoveries into clinical applications, Myriad Genetics (NASDAQ: MYGN) develops genetic tests that assess disease risk, guide treatment decisions, and provide insights across oncology, women's health, and mental health.

Myriad Genetics reported revenues of $190.7 million, down 10.5% year on year, falling short of analysts’ expectations by 8.2%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and a significant miss of analysts’ EPS estimates.

Myriad Genetics delivered the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. As expected, the stock is down 42.3% since the results and currently trades at $3.10.

Read our full analysis of Myriad Genetics’s results here.

Gilead Sciences (NASDAQ: GILD)

From its groundbreaking work in developing the first single-tablet regimens for HIV treatment, Gilead Sciences (NASDAQ: GILD) develops and markets innovative medicines for life-threatening diseases including HIV, viral hepatitis, COVID-19, and cancer.

Gilead Sciences reported revenues of $7.80 billion, up 10.2% year on year. This print surpassed analysts’ expectations by 6.2%. Overall, it was a very strong quarter as it also logged an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.

The stock is up 2% since reporting and currently trades at $137.99.

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

AbbVie (NYSE: ABBV)

Born from a 2013 spinoff of Abbott Laboratories' pharmaceutical business, AbbVie (NYSE: ABBV) is a biopharmaceutical company that develops and markets medications for autoimmune diseases, cancer, neurological disorders, and other complex health conditions.

AbbVie reported revenues of $16.99 billion, up 10.2% year on year. This result topped analysts’ expectations by 1.2%. Aside from that, it was a mixed quarter as it also recorded a narrow beat of analysts’ EPS estimates but a slight miss of analysts’ full-year EPS guidance estimates.

The stock is down 2.8% since reporting and currently trades at $250.25.

Read our full, actionable report on AbbVie 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.