In this article, we will be taking a look at the 11 Best Cancer Stocks to Buy Right Now.

Cancer remains the second leading cause of death globally, after heart disease. In the U.S., over 1.95 million new cancer cases were projected in 2023, a 28% increase from 2010, with more than 600,000 deaths expected in 2024. Rising patient numbers have significantly increased treatment costs, with total U.S. cancer care spending projected to reach $245 billion by 2030, up from around $200 billion in 2020.

Global funding for cancer research has surged over the past 20 years. Between 2017 and 2022, the FDA approved 161 new cancer drugs, reflecting rapid advancement in therapies spanning diagnosis, treatment, and patient management. The global oncology drugs market, valued at $201.75 billion in 2023, is expected to grow to $518.25 billion by 2032 at a CAGR of 11.3%. This expansion is driven by rising cancer incidence and the development of targeted immunotherapies, with North America holding the largest market share at 45.9%.

Precision oncology, which tailors treatment based on a patient’s tumor DNA profile, is also growing rapidly. Valued at $115.8 billion in 2024, this market is projected to expand at a CAGR of 8.05% through 2030, supported by improved diagnostics, reduced side effects, and avoidance of drug resistance.

Artificial intelligence (AI) is transforming cancer care by enabling faster, more accurate analysis of complex oncology datasets, improving diagnostics, and streamlining treatment planning. The AI oncology market is projected to grow from $1.98 billion in 2025 to $9.04 billion by 2030, at a CAGR of 35.5%, with North America leading and Asia-Pacific experiencing the fastest growth.

These trends, rising incidence, growing treatment costs, precision medicine advancements, and AI integration, underscore the long-term potential in oncology. As a result, investments in cancer-focused biotech and pharmaceutical companies are expected to be increasingly profitable, making certain cancer stocks attractive for long-term growth.

Our Methodology 

For our methodology, we picked cancer stocks from the iShares Genomics Immunology and Healthcare ETF and then ranked them in ascending order based on their total number of hedge fund holders as of Q2 2025, as tracked by 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).

Here is our list of the 11 best cancer stocks to buy right now.  

11. BioNTech SE (NASDAQ:BNTX)

Number of Hedge Fund Holders: 16 

BioNTech SE (NASDAQ:BNTX), a German biotechnology company, specializes in mRNA-based immunotherapies for cancer and infectious diseases and stands eleventh on our list among the best cancer stocks. Following its global recognition for the COVID-19 vaccine, the company has been expanding its oncology pipeline with personalized cancer immunotherapies, next-generation immunomodulators, and targeted therapies.

In June 2025, BioNTech SE (NASDAQ:BNTX) entered a global collaboration with Bristol Myers Squibb (BMS) to co-develop and commercialize BNT327, a bispecific antibody targeting PD-L1 and VEGF-A across multiple solid tumors. The deal, worth up to $11.1 billion, underscores the business’s commitment to advancing oncology beyond its COVID-19 vaccine success.

BioNTech SE (NASDAQ:BNTX) also announced the acquisition of CureVac, a company with proprietary mRNA technology. The company has initiated multiple Phase 1/2 clinical trials with BNT327 and other novel mRNA and antibody-drug conjugate candidates, focusing on combination therapies for breast, lung, colorectal, and other solid tumors. These trials aim to validate synergistic approaches targeting multiple tumor-specific pathways.

10. Takeda Pharmaceutical Company Limited (NYSE:TAK)

Number of Hedge Fund Holders: 18 

Takeda Pharmaceutical Company Limited (NYSE:TAK), a global biopharmaceutical leader, is advancing cancer treatment through novel immuno-oncology strategies focused on the innate immune system. A major development is the company’s planned acquisition of Adaptate Biotherapeutics, which specializes in gamma delta (γδ) T cell engager therapies for solid tumors.

The company also received a positive CHMP opinion in Europe for ADCETRIS (brentuximab vedotin) for advanced Hodgkin lymphoma, enhancing its oncology portfolio. Additionally, Takeda Pharmaceutical Company Limited (NYSE:TAK) presented encouraging clinical data for rusfertide at the 2025 ASCO Annual Meeting, highlighting ongoing late-stage pipeline progress in cancer and related diseases.

Takeda Pharmaceutical Company Limited (NYSE:TAK)’s strategic focus emphasizes building an immuno-oncology portfolio around innate immunity, including γδ T cells and natural killer (NK) cells. Through acquisitions and R&D collaborations, the company is integrating cutting-edge platforms to develop innovative cancer therapies.

9. Genmab A/S (NASAQ:GMAB)

Number of Hedge Fund Holders: 19 

Genmab A/S (NASDAQ:GMAB), a Danish biotechnology leader, specializes in antibody-based therapies for cancer and serious diseases, with notable successes including Darzalex (daratumumab) for multiple myeloma and epcoritamab for B-cell malignancies. Strategic partnerships with AbbVie and Johnson & Johnson support the company’s expanded oncology portfolio and commercialization efforts.

At ASCO 2025, Genmab A/S (NASDAQ:GMAB) presented key data highlighting its pipeline progress. Early results from a Phase 1/2 trial of Rina-S, a folate receptor-alpha targeted antibody-drug conjugate (ADC) for advanced endometrial cancer, showed promise in addressing this hard-to-treat women’s cancer. Long-term follow-up from the EPCORE NHL-1 study demonstrated durable complete responses at two years for epcoritamab in relapsed/refractory diffuse large B-cell lymphoma (DLBCL), underscoring its potential as a core therapy alongside AbbVie.

The company also reported positive Phase 3 EPCORE FL-1 results for epcoritamab in follicular lymphoma, where combination therapy with rituximab and lenalidomide achieved a 95.7% overall response rate and reduced progression risk by 79%, further strengthening its position among the best cancer stocks in the immuno-oncology space.

In May 2025, the business expanded its ADC capabilities through a $1.8 billion acquisition of ProfoundBio, adding next-generation ADC candidates to accelerate the development of transformative cancer treatments. The company continues to advance innovative platforms such as DuoBody and HexaBody, as well as research into immune complement system modulation, aimed at improving therapeutic efficacy and safety.

8. Sanofi (NASDAQ:SNY)

Number of Hedge Fund Holders: 24 

Sanofi (NASDAQ:SNY) is a global biopharmaceutical company focused on innovative medicines and vaccines, with active efforts in oncology, immunology, and rare diseases. The company is recognized for its scientific approach and robust pipeline development.

In oncology, a key recent development is the European Medicines Agency’s acceptance of Sanofi (NASDAQ:SNY) ’s Sarclisa (isatuximab) for regulatory review in combination therapies for transplant-eligible, newly diagnosed multiple myeloma (NDMM). The supporting Phase 3 GMMG-HD7 study demonstrated a 30% reduction in disease progression or death, highlighting Sarclisa’s potential impact on multiple myeloma treatment.

The company’s late-stage pipeline includes 12 potential blockbuster cancer therapies, with some projected to exceed €5 billion in peak sales. The corporation employs an “immunience” approach, leveraging immune pathway research to advance cancer immunotherapy and broader immunological applications. Ongoing Phase 3 programs and innovative treatments across rare diseases and immunology further reflect Sanofi’s comprehensive R&D investment.

Beyond drug development, the business’s philanthropic arm, Foundation S, focuses on reducing childhood cancer and supporting WHO initiatives to cut childhood cancer rates by 60%, while addressing health equity and access issues.

7. BeOne Medicines Ltd. (NASDAQ:ONC)

Number of Hedge Fund Holders: 28 

BeOne Medicines Ltd. (NASDAQ:ONC) is a global oncology company advancing innovative treatments for solid tumors and blood cancers.

At the 2025 American Society of Clinical Oncology (ASCO) meeting, the company presented promising early-phase results for two novel breast cancer therapies. BG-C9074, an antibody-drug conjugate targeting the B7-H4 protein in breast and gynecologic cancers, delivers a potent topoisomerase I inhibitor directly to tumor cells. BG-68501, a cyclin-dependent kinase-2 inhibitor, is being developed for HR+/HER2- breast cancer patients who previously received CDK4/6 inhibitors. Both candidates reflect BeOne Medicines Ltd. (NASDAQ:ONC)’s targeted, biology-driven approach to breast cancer innovation.

In hematology, the business continues to expand BRUKINSA, its BTK inhibitor with proven efficacy in chronic lymphocytic leukemia (CLL) and other blood cancers. With its expanding pipeline and progress across multiple Phase 3 trials, the company is increasingly viewed as one of the best cancer stocks for investors seeking exposure to innovative therapies in both solid tumors and hematology.

Strategically, BeOne Medicines Ltd. (NASDAQ:ONC) recently redomiciled to Switzerland, strengthening its global footprint and positioning itself for broader international oncology leadership. With a growing pipeline and established therapies, the company is focused on delivering transformative treatments to address unmet needs in oncology worldwide.

6. Arcellx, Inc. (NASDAQ:ACLX)

Number of Hedge Fund Holders: 39 

Arcellx, Inc. (NASDAQ:ACLX) is a biotechnology company developing next-generation cell therapies to treat cancer and incurable diseases, with a focus on improving the safety and efficacy of CAR-T treatments through its proprietary D-Domain and ddCAR platforms.

Its lead candidate, anitocel, for multiple myeloma has shown exceptional Phase 2 trial results, with a 97% overall response rate and 93.1% minimal residual disease (MRD)-negative responses. Importantly, the therapy demonstrated a favorable safety profile, avoiding severe neurotoxicity often associated with CAR-T treatments. Over 150 patients have been treated, with long-term data confirming strong efficacy and tolerability. To align with FDA guidance, Arcellx, Inc. (NASDAQ:ACLX) has updated its iMMagine-3 study protocol to include MRD negativity alongside progression-free survival as dual primary endpoints, aiming to accelerate regulatory approval and patient access.

The company will present updated results from 117 patients in the iMMagine-1 trial at the European Hematology Association (EHA) 2025, reinforcing its commitment to transparency and innovation. A commercial launch of anito-cel is targeted for 2026, supported by new leadership additions to strengthen operational and strategic execution.

The business has also expanded its partnership with Kite (a Gilead company) to co-develop and co-commercialize CAR-T programs for multiple myeloma and lymphoma. The collaboration, backed by significant funding, underscores confidence in Arcellx, Inc. (NASDAQ:ACLX)’s pipeline and its potential to address high unmet needs in oncology.

Beyond anito-cel, the corporation is advancing programs like ACLX-001 (ARC-SparX), designed to enhance flexibility and control in CAR-T therapies.

5. Moderna, Inc. (NASDAQ:MRNA)

Number of Hedge Fund Holders: 39 

Moderna, Inc. (NASDAQ:MRNA) stands fifth among the best cancer stocks. It is best known for its mRNA COVID-19 vaccine and is expanding into oncology with a focus on personalized cancer immunotherapies. The company’s strategy centers on using mRNA technology to encode tumor-specific antigens, training the immune system to recognize and destroy cancer cells.

A major milestone in 2025 is the Phase 1 trial of mRNA-4106, a pan-tumor antigen therapy for advanced solid tumors, launched in partnership with the START Center for Cancer Research. This therapy encodes multiple shared tumor antigens, aiming to broaden treatment beyond single-target approaches. The trial is testing mRNA-4106 alone and in combination with checkpoint inhibitors to evaluate safety, immune activation, and early efficacy.

In parallel, Moderna, Inc. (NASDAQ:MRNA) is advancing its personalized cancer vaccine (PCV) platform, developed with Merck, which tailors mRNA vaccines to individual tumor mutations identified via next-generation sequencing. These vaccines are rapidly manufactured in small batches and combined with immunotherapies like Keytruda to improve patient outcomes. Several PCV candidates are in late-stage development, including Phase 3 trials for melanoma, one of the firm’s most closely watched programs.

Upcoming clinical data, particularly from melanoma studies, could provide the foundation for regulatory filings and commercial launch in the coming years. If successful, Moderna, Inc. (NASDAQ:MRNA)’s PCV could represent a breakthrough in cancer treatment, establishing mRNA as a versatile technology for both infectious disease and oncology.

4. Incyte Corporation (NASDAQ:INCY)

Number of Hedge Fund Holders: 42 

Incyte Corporation (NASDAQ:INCY) is a biopharmaceutical company focused on cancer and inflammatory diseases, best known for Jakafi (ruxolitinib), a leading treatment for myelofibrosis and polycythemia vera. Its oncology portfolio also includes MONJUVI for lymphoma, PEMAZYRE for cholangiocarcinoma, ZYNYZ for Merkel cell carcinoma, and NIKTIMVO for chronic graft-versus-host disease, along with Opzelura for inflammatory skin conditions.

In Q2 2025, Jakafi delivered $764 million in revenue, an 8% year-over-year increase, prompting the company to raise full-year sales guidance to $3.0–3.05 billion. Strong demand and supportive healthcare policies have reinforced Jakafi’s growth, driving Incyte Corporation (NASDAQ:INCY)’s overall financial performance.

The business is expanding its precision medicine efforts through a global partnership with QIAGEN, developing a companion diagnostic for mutant calreticulin (mutCALR) to better identify patients for its investigational therapy INCA033989 in rare blood cancers.

Incyte Corporation (NASDAQ:INCY) reported positive Phase 2 results for povorcitinib, an oral JAK1 inhibitor for chronic spontaneous urticaria, underscoring diversification into immunology and dermatology. The corporation is also advancing a KRAS G12D inhibitor for pancreatic cancer, with potential as both a standalone and combination therapy.

Looking ahead, the firm expects 18+ clinical milestones in 2025, including four potential product launches, highlighting aggressive R&D investment across oncology and immune-related conditions.

3. AstraZeneca PLC (NASDAQ:AZN)

Number of Hedge Fund Holders: 48 

AstraZeneca PLC (NASDAQ:AZN), headquartered in Cambridge, England, is a leading global biopharmaceutical company with a major role in the oncology sector. Its cancer portfolio covers lung, breast, gastric, and gastroesophageal cancers, with key drugs including Tagrisso, Imfinzi, Calquence, Lynparza, and Enhertu.

In the first half of 2025, AstraZeneca PLC (NASDAQ:AZN)’s oncology sales reached nearly $12 billion, up 16% year-over-year, driven by strong demand across its core therapies. New launches such as Truqap for breast cancer and Datroway for EGFR-mutated non-small cell lung cancer have also expanded its market presence, solidifying its position among the best cancer stocks to watch.

Regulatory and clinical progress further reinforced momentum. The FDA granted Priority Review for Imfinzi in early-stage and locally advanced gastric and gastroesophageal cancers, with a decision expected in late 2025. Positive Phase III results were reported for Enhertu (DESTINY-Breast09), Imfinzi (MATTERHORN), and camizestrant (SERENA-6), strengthening the business’s late-stage pipeline. Enhertu also showed the ability to delay breast cancer progression by 14 months, signaling potential label expansion.

Strategically, AstraZeneca PLC (NASDAQ:AZN) streamlined its pipeline by discontinuing early CAR-T and TCR-T candidates for solid tumors, redirecting investment toward high-potential immuno-oncology and targeted therapies.

2. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Number of Hedge Fund Holders: 73 

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is a biopharmaceutical company recognized for advancing cancer treatment through innovative immunotherapies and biologics. Its flagship PD-1 inhibitor, Libtayo, is the standard of care for advanced cutaneous squamous cell carcinoma (CSCC) and is being explored in other cancers such as melanoma and multiple myeloma.

At the 2025 ASCO Annual Meeting, Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) is presenting 18 studies across hard-to-treat cancers, underscoring the depth of its oncology pipeline. Key highlights include the C-POST Phase 3 trial, showing Libtayo significantly improved disease-free survival in high-risk CSCC after surgery.

Another major focus is linvoseltamab, a BCMAxCD3 bispecific antibody for relapsed or refractory multiple myeloma. The drug recently gained FDA approval (Lynozyfic) and is being tested in combination regimens with proteasome inhibitors, potentially broadening its clinical use. Additionally, vidutolimod, a toll-like receptor 9 agonist, is being evaluated with PD-1 inhibitors in melanoma, with Phase 2 results to be shared.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s oncology strategy emphasizes immuno-oncology combinations, including checkpoint inhibitors and bispecific antibodies, to address both solid tumors and hematological cancers. With Libtayo demonstrating strong results in CSCC and linvoseltamab offering a new option for multiple myeloma, the company is expanding its role in areas with significant unmet need.

1. Merck & Co., Inc. (NYSE:MRK)

Number of Hedge Fund Holders: 92 

Merck & Co., Inc. (NYSE:MRK) tops our list for being one of the best cancer stocks. It is a global pharmaceutical leader with a strong oncology portfolio led by KEYTRUDA (pembrolizumab), approved for 42 indications across 18 tumor types and a cornerstone of modern cancer therapy. The company is actively expanding beyond KEYTRUDA with a broad pipeline of immuno-oncology agents, precision medicines, and antibody-drug conjugates (ADCs).

At the ASCO 2025 meeting, Merck & Co., Inc. (NYSE:MRK) highlighted several key developments. Its investigational KRAS G12C inhibitor MK-1084 showed encouraging Phase 1 results in colorectal and non-small cell lung cancers. ADCs zilovertamab vedotin and sacituzumab tirumotecan advanced in clinical trials, reinforcing the company’s focus on targeted therapies. Meanwhile, KEYTRUDA gained its 42nd FDA approval for use in resectable head and neck squamous cell carcinoma, while combination studies demonstrated the first significant overall survival benefit for checkpoint inhibitors in ovarian cancer.

Merck & Co., Inc. (NYSE:MRK) is also collaborating with Daiichi Sankyo on late-stage trials of ifinatamab deruxtecan in esophageal, prostate, and small cell lung cancers. Beyond oncology, strategic acquisitions like Verona Pharma are part of efforts to diversify ahead of KEYTRUDA’s patent expiry in 2028. The company is advancing 20+ new growth drivers across immuno-oncology and precision medicine, including agents such as enlicitide, tulisokibart, and MK-3000.

Additionally, the business is working to expand global clinical trial access, partnering with Australia’s Omico to broaden cancer research availability in international markets.

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