10 Best Cancer Stocks to Buy for the Long Term

In this article, we will be taking a look at the 10 Best Cancer Stocks to Buy for the Long Term.

Pharmaceutical firms have always had a special place in the healthcare market because they provide stability and expansion. The constant demand for drugs, immunizations, and treatments for chronic illnesses, which helps sustain earnings independent of economic cycles, is the source of their protective stance. This resilience is demonstrated by the S&P 500 Pharmaceutical index’s climb of more than 6%, which exceeds the gain of slightly over 1% for the entire S&P 500.

One of the industry’s fastest-growing subsectors is oncology. Growth is mostly being driven by advancements in immunotherapy and targeted medications, as well as a rise in the incidence of cancer worldwide. According to Allied Market Research, the market for cancer medications is expected to increase at a compound annual growth rate of 7.2% and reach $335.2 billion by 2032. The demand for breast cancer medications is predicted to increase at a rate of 5.6% to $6.6 billion in the US alone by 2036 as a result of widespread treatment acceptance, extensive screening programs, and long-term maintenance therapy.

Macroeconomic conditions have continued to be unstable. Despite international tensions and rising oil prices, the S&P 500 recovered to highs within 15 trading days, according to Matt Powers of Powers Advisory Group, who characterized recent movements as a “textbook” V-shaped recovery on April 17. Even if a large portion of the macro risk seems to be priced in, markets are nevertheless susceptible to changes in Federal Reserve policy, energy, and geopolitics.

Investor behavior has changed as a result of this uncertainty. According to John Stoltzfus of Oppenheimer, worries about inflation and high valuations have caused a shift away from large-cap technology stocks and toward more comprehensive diversification strategies. After years of sluggish growth, JPMorgan analysts see signs of stabilization, even if healthcare has lagged, down about 4% this year.

In the meantime, industry fundamentals are being strengthened by increased insider purchasing and merger & acquisition activity. According to Deloitte’s February 16, 2026 Global Health Care Outlook, more than 70% of non-US executives anticipate increased revenues and profits, bolstering confidence in the industry’s long-term growth trajectory.

With that said, Let’s now take a look at the best cancer stocks.

Our Methodology

For our methodology, we filtered for stocks of pure-play cancer companies or companies contributing to the oncology sector, with EPS growth of more than 15%. From that list, we selected companies with the most recent news and developments and ranked them in ascending order based on the total number of hedge fund holders as of Q4 2025, according to the Insider Monkey database.

Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).

Here is our list of the 10 best cancer stocks to buy for the long term.

10. Dr. Reddy’s Laboratories Limited (NYSE:RDY)

Number of Hedge Fund Holders: 10

Dr. Reddy’s Laboratories Limited (NYSE:RDY) is one of the best cancer stocks on our list.

TheFly reported on April 23 that Goldman Sachs lowered its rating on RDY from Neutral to Sell and reduced the price target from INR 1,225 to INR 1,075, citing concerns that the company’s generic Ozempic prospects in Canada may be weaker and more short-term than previously expected due to rising competition. The firm also noted that RDY’s pipeline for high-value drugs remains limited.

Moreover, on April 29, Dr. Reddy’s Laboratories Limited (NYSE:RDY) announced that it had secured regulatory clearance from Health Canada for its generic semaglutide injection, marking a significant step for the company in the Canadian market. The approval makes RDY’s the first drugmaker to obtain authorization to market a generic version of semaglutide in Canada before Health Canada’s expected review timeline.

The authorization includes both the 2 mg/pen and 4 mg/pen versions of the treatment. The company stated that commercial launch activities are already in progress, positioning it to expand access to the medication for patients across Canada. The development also strengthens RDY’s presence in the growing market for diabetes and weight management treatments.

Dr. Reddy’s Laboratories Limited (NYSE:RDY) is a global pharmaceutical company based in Hyderabad. Founded in 1984, it develops and manufactures generics, APIs, biosimilars, and branded medicines, with a strong presence in oncology, cardiovascular care, and emerging markets.

9. Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Number of Hedge Fund Holders: 31

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is one of the best cancer stocks to invest in.

TheFly reported on April 29 that H.C. Wainwright increased its price objective for HALO to $95 from $90 and reiterated its Buy recommendation on the stock. The firm pointed to expectations of a first-quarter royalty reset and anticipates stronger royalty growth momentum for HALO beginning in the second quarter and continuing through the remainder of 2026. H.C. Wainwright noted that upcoming quarters could provide indications of improving royalty performance as the company advances its commercial and partnership-driven revenue streams.

In separate news, on May 6, Halozyme Therapeutics, Inc. (NASDAQ:HALO) and Oruka Therapeutics disclosed a worldwide exclusive partnership and licensing deal involving Halozyme’s wholly owned subsidiary, Halozyme Hypercon. Under the agreement, Oruka obtained rights to use HALO’s Hypercon technology for ORKA-001, which is being developed for psoriasis and other inflammatory conditions, with potential expansion to one additional therapeutic target.

Hypercon is designed as a microparticle-based system that enables higher drug concentration, lowering injection volumes, and improving ease of administration for patients. The deal includes an upfront payment from Oruka to HALO, along with the possibility of additional milestone-based payments in the future. HALO is also set to receive mid-single-digit royalty payments on net sales of any products developed using the licensed technology.

Halozyme Therapeutics, Inc. (NASDAQ:HALO) is a biotechnology company based in San Diego that specializes in oncology drug delivery. It is best known for its ENHANZE technology, which enables faster, high-volume subcutaneous drug administration and is widely licensed to pharmaceutical partners for cancer therapies.

8. Novartis AG (NYSE:NVS)

Number of Hedge Fund Holders: 35

Novartis AG (NYSE:NVS) is also one of the best cancer stocks to buy for the long term.

On May 7, NVS began construction on a 46,000-square-foot radioligand therapy manufacturing facility in Denton, Texas. The project is part of the company’s broader $23 billion commitment to expanding U.S.-based manufacturing and research capacity. This site marks NVS’s first production facility in Texas and is intended to strengthen access to radioligand therapies for patients in the southern United States. It also becomes the fifth such facility in the country.

On April 30, Novartis AG (NYSE:NVS) outlined plans for a 56,200-square-foot manufacturing site in Morrisville, North Carolina. The facility will focus on producing active pharmaceutical ingredients used in solid oral medicines such as tablets and capsules, as well as supporting RNA-based therapies.

This project represents the seventh new site announced within a year under the company’s $23 billion investment program aimed at expanding U.S. manufacturing and research capabilities. Once completed, it will increase NVS’s footprint in North Carolina to five facilities distributed across three different locations, strengthening its regional production network.

Novartis AG (NYSE:NVS) is a global healthcare company based in Basel and a major player in oncology. It develops targeted therapies, cell and gene therapies, and radioligand treatments for cancers like breast and prostate cancer, with a strong focus on precision medicine and expanding its manufacturing capabilities.

7. Exelixis, Inc. (NASDAQ:EXEL)

Number of Hedge Fund Holders: 42

Exelixis, Inc. (NASDAQ:EXEL) is one of the best cancer stocks on this list.

TheFly reported on May 6 that EXEL received an updated valuation outlook as TD Cowen increased its price target to $55 from $51 while reaffirming a Buy rating on the stock. The firm highlighted newly announced combination studies involving zanza in non-small cell lung cancer (NSCLC) and metastatic castration-resistant prostate cancer (mCRPC), noting that these programs support the company’s broader expansion efforts. However, it also pointed out that the overall growth narrative remains mixed, given earlier setbacks associated with cabo-based therapies.

Additionally, alongside its Q1 update on May 5, Exelixis, Inc. (NASDAQ:EXEL) confirmed that it is keeping its fiscal 2026 revenue outlook unchanged at $2.525 billion to $2.625 billion. The company noted that this forecast does not include any potential contribution from a future U.S. approval and launch of zanzalintinib for previously treated metastatic colorectal cancer when combined with atezolizumab.

That application is currently under review by the U.S. Food and Drug Administration. Management indicated that the existing guidance only reflects currently approved products and ongoing operations, without factoring in possible upside from this pending regulatory decision.

Exelixis, Inc. (NASDAQ:EXEL) is an oncology-focused biopharmaceutical company based in Alameda. It develops small-molecule cancer therapies, led by CABOMETYX (cabozantinib), its main revenue driver. The company is also advancing next-generation drugs like zanzalintinib and expanding into new cancer treatment areas.

6. Incyte Corporation (NASDAQ:INCY)

Number of Hedge Fund Holders: 48

Incyte Corporation (NASDAQ:INCY) is among the best cancer stocks to invest in.

On May 7, INCY reported final 24-week results from its Phase 3 TRuE-AD4 study evaluating Opzelura (ruxolitinib) cream in adults with moderate atopic dermatitis who had limited response or intolerance to standard topical therapies such as corticosteroids and calcineurin inhibitors.

The results, presented at a European dermatology conference, showed that early treatment benefits observed at Week 8 were generally sustained through Week 24. Among patients continuing therapy, a high proportion maintained strong clinical responses, with improvements in skin involvement and itch control remaining consistent over time. Safety findings were in line with earlier data, showing good tolerability and no new safety concerns during extended use up to 24 weeks.

Separately, earlier on May 1, Incyte Corporation (NASDAQ:INCY) announced that the U.S. Food and Drug Administration approved Jakafi XR, an extended-release formulation of ruxolitinib. The approval covers treatment of adults with intermediate- or high-risk myelofibrosis, adults with polycythemia vera who do not respond adequately to or cannot tolerate hydroxyurea, and both adults and adolescents aged 12 and older with steroid-refractory acute graft-versus-host disease or chronic GVHD after prior systemic therapy.

The company highlighted that the once-daily formulation expands dosing convenience for eligible patients while maintaining the established clinical role of Jakafi in hematologic and immune-related conditions, broadening therapeutic options without altering its core use.

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company based in Wilmington focused on oncology, hematology, and inflammation. Its key drug is Jakafi (ruxolitinib), used for blood cancers and related conditions, along with other therapies for cancer and skin diseases.

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