In this article, we will look at the 10 Best Performing Healthcare Stocks So Far in 2026.
On May 4, Dina DiLorenzo, Guggenheim Investments president, joins ‘Power Lunch’ to discuss the market’s recent resilience, credit markets, and much more.
She was of the view that the backdrop at present is featuring geopolitical tensions, Fed policy uncertainty, inflation concerns, and still, it is incredible that the stock market is at record highs. She is looking at it from the perspective of strong balance sheets, strong corporate earnings, strong AI spending, and forward-looking pricing, probably already embedded in the markets.
READ ALSO: 10 Best Performing Small Cap Stocks So Far in 2026 AND 10 Best Medical Device Stocks to Invest In Right Now.
DiLorenzo was further of the view that AI is playing a role here in terms of emotional volatility: it is mitigating some of that emotional volatility, and we are seeing that these AI products are really coming in, with data processing and investment workflows reflecting it. She also said that, for her, as a fixed-income global asset manager with a focus on public and private credit, she does see some volatility. She considers this a yellow flag as the equity markets follow, and that is why she is being “super cautious”.
With these broader market trends in view, let’s look at the best performing healthcare stocks so far in 2026.
A healthcare professional in a meeting with a patient discussing care options using digital technology.
Our Methodology
We used the Finviz stock screener to identify the best healthcare stocks that have exhibited strong share price performance YTD, and limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds, as of Q4 2025. The stocks are arranged in ascending order of YTD performance.
Note: All data was recorded on May 4.
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).
10 Best Performing Healthcare Stocks So Far in 2026
10. CG Oncology, Inc. (NASDAQ:CGON)
YTD Share Price Gain: 60.74%
CG Oncology, Inc. (NASDAQ:CGON) is one of the best performing healthcare stocks so far in 2026. RBC Capital lifted the price target on CG Oncology, Inc. (NASDAQ:CGON) to $79 from $73 on April 27, reaffirming an Outperform rating on the shares. The firm told investors in a research note that one of the most complex catalysts in the firm’s universe is PIVOT-006, given the recent run-up and future catalyst path from a tactical perspective, as well as the limited data from which to base readout expectations on a fundamental basis. The firm added that it anticipates data from the trial in early June and expects to deliver a 40% risk reduction, driving 20% upside in shares.
CG Oncology, Inc. also received a rating update from BofA on April 14. The firm lifted the price target on the stock to $84 from $72, maintaining a Buy rating on the shares. It stated that shares have run up 62% year-to-date with the acceleration of the timeline for PIVOT-006 IR NMIBC data, adding that the BofA is “still bullish at current levels” and sees “more room to run.”
CG Oncology, Inc. is a clinical biopharmaceutical company that develops and commercializes bladder-sparing therapeutic patients afflicted with bladder cancer. The company offers cretostimogene, which is a product initially in clinical development to treat patients with Non-Muscle Invasive Bladder Cancer (NMIBC).
9. Twist Bioscience Corporation (NASDAQ:TWST)
YTD Share Price Gain: 75.05%
Twist Bioscience Corporation (NASDAQ:TWST) is one of the best performing healthcare stocks so far in 2026. Twist Bioscience Corporation (NASDAQ:TWST) announced its fiscal Q2 2026 financial results and business highlights on May 4, reporting solid performance in the first half of 2026. It ended fiscal Q2 with its 13th consecutive quarter of growth, with total revenue for the quarter reaching $110.7 million, up 19% compared to $92.8 million for the same period last year. Cost of revenues for the quarter rose to $53.6 million, up from $46.8 million in fiscal Q2 2025, while gross margin increased to 51.6% compared to 49.6% for the prior year period.
Twist Bioscience Corporation further reported that research and development expenses for fiscal Q2 2025 decreased to $19.7 million compared to $23.9 million for the same period of fiscal 2025. The company shipped products to approximately 2,583 customers in the quarter, up from approximately 2,431 in the same period of fiscal 2025.
Twist Bioscience Corporation is involved in the development of a proprietary semiconductor-based synthetic DNA manufacturing process. The company’s operations are divided into the following geographical segments: Americas, EMEA, and APAC.
8. Acadia Healthcare Company, Inc. (NASDAQ:ACHC)
YTD Share Price Gain: 76.84%
Acadia Healthcare Company, Inc. (NASDAQ:ACHC) is one of the best performing healthcare stocks so far in 2026. Acadia Healthcare Company, Inc. (NASDAQ:ACHC) received a rating update from RBC Capital on May 4, with the firm lifting the price target on the stock to $31 from $28 and reiterating an Outperform rating on the shares. The rating update came after the company delivered its fiscal Q1 earnings beat. RBC Capital told investors in a research note that shares reversed earlier declines as investors digested the company’s fundamental beat and raise quarter, as well as constructive color from the management’s callbacks that walked back the “broad-based” denial and bad debt characterization offered on the call.
Acadia Healthcare Company, Inc. also received a rating update from Raymond James the same day. The firm upgraded the stock to Strong Buy from Outperform, lifting the price target on the shares to $39 from $25. It told investors in a research note that the company reported a solid fiscal Q1 beat, modestly raising its 2026 EBITDA and earnings outlook. Raymond James believes that Acadia Healthcare Company, Inc. will see rising estimates and a higher multiple as it harvests its $200M target from underperforming facilities, along with modest underlying growth.
Acadia Healthcare Company, Inc. provides behavioral healthcare services across the US in various settings, including inpatient psychiatric hospitals, residential treatment centers, specialty treatment facilities, and outpatient clinics.
7. Revolution Medicines, Inc. (NASDAQ:RVMD)
YTD Share Price Gain: 86.29%
Revolution Medicines, Inc. (NASDAQ:RVMD) is one of the best performing healthcare stocks so far in 2026. Revolution Medicines, Inc. (NASDAQ:RVMD) announced on May 1 that the U.S. Food and Drug Administration (FDA) issued a “safe to proceed” letter to the company, allowing the initiation of an expanded access treatment protocol (EAP) for daraxonrasib in patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC). Daraxonrasib is an investigational RAS(ON) inhibitor.
The company further stated that the EAP aims to offer treatment access in a monitored and controlled setting, consistent with FDA regulations governing investigational medicines. It added that the authorization marks a crucial step in the process of opening an EAP, and Revolution Medicines, Inc. is “moving as quickly as possible” to ensure safe and equitable access to daraxonrasib for eligible patients in the United States. Management also stated that, as per FDA regulations governing expanded access programs, the company is unable to accept direct requests from caregivers or patients, and all requests for expanded access are required to be initiated by a licensed treating physician.
Revolution Medicines, Inc. is a clinical-stage precision oncology company that develops novel targeted therapies. It discovers and develops cancer treatments through novel combination and monotherapy treatment regimens that enhance clinical benefits.
6. AnaptysBio, Inc. (NASDAQ:ANAB)
YTD Share Price Gain: 131.2%
AnaptysBio, Inc. (NASDAQ:ANAB) is one of the best performing healthcare stocks so far in 2026. Piper Sandler cut the price target on AnaptysBio, Inc. (NASDAQ:ANAB) to $93 from $95 on May 4, reaffirming an Overweight rating on the shares. The firm stated that the company announced in April 2026 the completion of the First Tracks Biotherapeutics (TRAX) spinoff, and thus now operates as a royalty management company, exclusively responsible for its financial collaborations with GSK and Vanda Pharmaceuticals.
Ultimately, Piper Sandler stated that it believes the separation makes sense, as it effectively works to protect and optimize the value of the royalty business. This is fundamentally distinct from the biopharma development company.
In another development, AnaptysBio, Inc. announced on April 24 that the Delaware Chancery Court has dismissed Tesaro’s anticipatory breach of contract claim against the company, with the ruling agreeing with Anaptys’ position that it has never repudiated the Collaboration and Exclusive License Agreement with Tesaro regarding the development and commercialization of Jemperli. Tesaro is a subsidiary of GSK.
AnaptysBio, Inc. is a clinical-stage biotechnology company that exclusively manages the financial collaborations from Jemperli with GSK and imsidolimab with Vanda.
5. Oruka Therapeutics, Inc. (NASDAQ:ORKA)
YTD Share Price Gain: 143.9%
Oruka Therapeutics, Inc. (NASDAQ:ORKA) is one of the best performing healthcare stocks so far in 2026. Leerink lifted the price target on Oruka Therapeutics, Inc. (NASDAQ:ORKA) to $120 from $109 on April 30, reaffirming an Outperform rating on the shares. In a separate development, Oruka Therapeutics, Inc. announced on April 27 positive interim results from its EVERLAST-A Phase 2a trial of ORKA-001 in moderate-to-severe plaque psoriasis. ORKA-001 is a novel half-life extended IL-23p19 monoclonal antibody.
The company reported that ORKA-001 attained 63.5% (40/63) PASI 100 at Week 16, with a favorable safety profile consistent with the IL-23p19 class. It also stated that the updated Phase 1 PK/PD data continues to support the potential for once-yearly dosing, with longer-term EVERLAST-A data anticipated in H2 2026.
Dr. Bruce Strober, MD, PhD, Clinical Professor of Dermatology at Yale University School of Medicine and lead investigator for EVERLAST-A, stated that the data with ORKA-001 are “highly compelling”, adding that if “this type of efficacy and safety profile could be available with dosing once to twice per year, it would represent a major step forward for the field”.
Oruka Therapeutics, Inc. is a biotechnology company that focuses on the development of novel monoclonal antibody therapeutics for PsO and other I&I indications. Its pipeline includes ORKA-001 and ORKA-002.
4. Enliven Therapeutics, Inc. (NASDAQ:ELVN)
YTD Share Price Gain: 167.5%
Enliven Therapeutics, Inc. (NASDAQ:ELVN) is one of the best performing healthcare stocks so far in 2026. On April 30, Mizuho reaffirmed an Outperform rating on Enliven Therapeutics, Inc. (NASDAQ:ELVN), setting a price target of $45. The rating update came after Merck noted during its fiscal Q1 earnings call that it believes Terns’ TERN-701 major molecular response “will be north of 50% and within the confidence interval as had been publicly stated.” The firm believes the comments to be a positive for ELVN-001, adding that today’s “high-level quantification” only further supports the significant degradation.
Enliven Therapeutics, Inc. also received a rating update from Clear Street on April 27. The firm lifted the price target on the stock to $55 from $36, maintaining a Buy rating on the shares. The firm stated that it left meetings with management with increased conviction in ELVN-001 as a differentiated ATP-site binder for BCR-ABL1. For additional reference, Enliven Therapeutics, Inc. reported in fiscal Q4 and full year 2025 earnings that it has a strong balance with $463 million in cash, cash equivalents, and marketable securities, which is anticipated to provide cash runway into the first half of 2029.
Enliven Therapeutics, Inc. is a clinical-stage biopharmaceutical company with a focus on the discovery and development of small-molecule therapeutics. The company’s pipeline includes BCR-ABL Program: ELVN-001and HER2 Program: ELVN-002.
3. Tango Therapeutics, Inc. (NASDAQ:TNGX)
YTD Share Price Gain: 171.01%
Tango Therapeutics, Inc. (NASDAQ:TNGX) is one of the best performing healthcare stocks so far in 2026. Stifel lifted the price target on Tango Therapeutics, Inc. (NASDAQ:TNGX) to $40 from $24 on April 27, maintaining a Buy rating on the shares. The firm cited elevated conviction for the PRMT5 inhibitor + RAS(ON) inhibitor synergy in pancreatic ductal adenocarcinoma.
For additional context, Tango Therapeutics, Inc. reported in its fiscal Q4 and full year 2025 results that it held $343.1 million in cash, cash equivalents, and marketable securities, which it expects to fund operations into 2028. It further reported that collaboration revenue for the quarter was $0 compared to $5.4 million for the same period in 2024, and $62.4 million for the full year, compared to $30.0 million for the prior year period.
It added that all of the remaining deferred revenue under the Gilead collaboration was recognized as collaboration revenue during fiscal Q3 2025 as a result of the truncation of the collaboration agreement, which concluded all research activities.
Tango Therapeutics, Inc. is a clinical-stage biotechnology company that discovers and delivers precision cancer medicines. The company is also involved in the identification of novel targets and the development of new drugs directed at tumor suppressor gene loss in defined patient populations with high unmet medical need.
2. Erasca, Inc. (NASDAQ:ERAS)
YTD Share Price Gain: 178.2%
Erasca, Inc. (NASDAQ:ERAS) is one of the best performing healthcare stocks so far in 2026. The Fly reported on May 4 that JPMorgan is maintaining an Overweight rating on Erasca, Inc. (NASDAQ:ERAS) and recommends buying the stock at current levels. The firm believes that the stock boasts several catalysts over the coming months and believes that the recent weakness in its shares is overdone. JPMorgan further told investors in a research note that ERAS-0015 has potential for safety differentiation and looks efficacious in non-small cell lung cancer.
Erasca, Inc. also received a rating update from H.C. Wainwright on April 28. The firm maintained a Buy rating on the stock with a $20 price target, with the rating coming after the company reported preliminary Phase 1 data for ERAS-0015. H.C. Wainwright told investors in a research note that while the data shows a “clear step-up in early efficacy” relative to the pre-readout bar, especially in lung cancer, it is significant to note that ERAS-0015’s safety profile is “directionally favorable but not without caveats.” It added that the dataset is “not fully clean”, and this “introduces tension with the otherwise benign safety narrative and raises questions around attribution and reporting consistency”.
Erasca, Inc. is a clinical-stage precision oncology company with a focus on the discovery, development, and commercialization of therapies for patients with RAS/MAPK pathway-driven cancers. The company has assembled a wholly owned or controlled RAS/MAPK pathway-focused pipeline that comprises modality-agnostic programs.
1. Veradermics, Incorporated (NYSE:MANE)
YTD Share Price Gain: 204.1%
Veradermics, Incorporated (NYSE:MANE) is one of the best performing healthcare stocks so far in 2026. On April 27, Citi lifted the price target on Veradermics, Incorporated (NYSE:MANE) to $120 from $85, reaffirming a Buy rating on the shares. The rating update came after the company announced positive topline results from Part A of its Phase 2/3 trial evaluating VDPHL01 in male pattern hair loss. The firm stated that the data “exceeded our base-case bar across all endpoints”, adding that the safety profile was clean. Citi lifted its view of the odds of success to 75%, and now models 2035 risk-adjusted peak sales of $3 billion, up from the previous $2 billion.
Veradermics, Incorporated announced on April 27 positive topline results from Part A of its randomized, double-blind, placebo-controlled Phase 2/3 clinical trial evaluating VDPHL01 in over 500 males with mild-to-moderate pattern hair loss. VDPHL01 is a proprietary extended-release oral minoxidil formulation, and Veradermics, Incorporated believes that the result positions the formulation to potentially become the first FDA-approved oral pill for pattern hair loss in nearly 30 years, as well as a potential best-in-indication treatment option for the 50 million men with pattern hair loss in the United States.
Veradermics, Incorporated is a late clinical-stage biopharmaceutical company with a focus on developing innovative therapeutics to address pervasive treatment challenges in highly prevalent dermatological and aesthetic conditions.
While we acknowledge the potential of MANE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MANE and that has 100x upside potential, check out our report about the cheapest AI stock.
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