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9 top oncology stocks to buy in 2024

Ready to invest in the cancer industry? Learn how to invest in oncology stocks in just a few steps.

The best oncology stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

The top cancer stocks included on this page all trade on the S&P 500, have an analyst recommendation of "Buy" or better and are sorted by year-to-date performance.

  1. Amgen (AMGN)
  2. Bristol-Myers Squibb Company (BMY)
  3. Five Prime Therapeutics (FPRX)
  4. Gilead Sciences (GILD)
  5. Novartis AG ADR (NVS)
  6. Cardiff Oncology (CRDF)
  7. Surface Oncology (SURF)
  8. Trillium Therapeutics (TRIL)
  9. Mersana Therapeutics (MRSN)

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How to invest in oncology stocks

  1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
  2. Sign up for an account. Provide your personal information and sign up.
  3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
  4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like AMGN or BMY.
  5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into oncology stocks

If you're interested in investing in the cancer industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

1. Amgen (AMGN)

Amgen Inc. discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.

The latest price was $336.00 (25-minute delay). Amgen is listed on the NASDAQ, has a trailing 12-month revenue of around USD29.5 billion and employs 26,700 staff.

  • Market capitalization: $177,715,560,448
  • P/E ratio: 47.3949
  • PEG ratio: 2.3869

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2. Bristol-Myers Squibb Company (BMY)

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

The latest price was $48.45 (25-minute delay). Bristol-Myers Squibb Company is listed on the NYSE, has a trailing 12-month revenue of around USD$45.5 billion and employs 34,100 staff.

  • Market capitalization: $86,435,545,088
  • PEG ratio: 31.3462

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3. Five Prime Therapeutics (FPRX)

Five Prime Therapeutics, Inc. , a clinical-stage biotechnology company, focuses on the development of immuno-oncology and targeted cancer therapies. The company's product candidates comprise Bemarituzumab, an antibody that inhibits fibroblast growth factor receptor 2b, or FGFR2b to treat patients with gastric or gastroesophageal junction and GEJ cancer; FPT155, a soluble CD80 fusion protein that enhances co-stimulation of T cells through CD28 that is in Phase Ia/1b clinical trial for patients with solid tumors; and BMS-986258, an anti-T cell immunoglobulin and mucin domain-3 antibody, which is in Phase I/II clinical trial in combination with Opdivo in patients with advanced malignant tumors.

Five Prime Therapeutics is listed on the NASDAQ, has a trailing 12-month revenue of around USD$13.2 million and employs 51 staff.

  • Market capitalization: $1,769,735,936
  • PEG ratio: 0.14

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4. Gilead Sciences (GILD)

Gilead Sciences, Inc. , a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.

The latest price was $76.75 (25-minute delay). Gilead Sciences is listed on the NASDAQ, has a trailing 12-month revenue of around USD$27.4 billion and employs 18,000 staff.

  • Market capitalization: $91,582,431,232
  • P/E ratio: 204.1944
  • PEG ratio: 0.421

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5. Novartis AG ADR (NVS)

Novartis AG engages in the research, development, manufacture, and marketing of healthcare products in Switzerland and internationally. The company offers prescription medicines for patients and physicians. It focuses on therapeutic areas, such as cardiovascular, renal and metabolic, immunology, neuroscience, and oncology, as well as ophthalmology and hematology.

The latest price was $109.62 (25-minute delay). Novartis AG ADR is listed on the NYSE, has a trailing 12-month revenue of around USD$47.7 billion and employs 76,057 staff.

  • Market capitalization: $219,201,241,088
  • P/E ratio: 24.4159
  • PEG ratio: 5.0912

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6. Cardiff Oncology (CRDF)

Cardiff Oncology, Inc. , a clinical-stage biotechnology company, develops novel therapies to treat various cancers in California. Its lead drug candidate is onvansertib, an oral selective Polo-like Kinase 1 Inhibitor to treatment a range of solid tumor cancers and KRAS/NRAS-mutated metastatic colorectal and metastatic pancreatic cancer, as well as investigator-initiated trials in triple negative breast cancer and small cell lung cancer; and TROV-054 is a Phase 1b/2 for FOLFIRI and bevacizumab.

The latest price was $2.43 (25-minute delay). Cardiff Oncology is listed on the NASDAQ, has a trailing 12-month revenue of around USD$610,000 and employs 31 staff.

  • Market capitalization: $100,658,704

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7. Surface Oncology (SURF)

Surface Oncology, Inc. , a clinical-stage immuno-oncology company, engages in the development of cancer therapies in the United States. The company develops various antibodies that include NZV930, a fully human immunoglobulin isotype G4 monoclonal antibody for the production of extracellular adenosine; SRF617, a fully human IgG4 monoclonal antibody that inhibits CD39 enzymatic activity for the production of adenosine and the breakdown of adenosine triphosphate; SRF388 which is in phase II clinical trial targeting interleukin 27; GSK4381562, an antibody targeting CD112R, an inhibitory protein expressed on natural killer and T cells; and SRF114 that is in phase 1/2 clinical trials targeting the chemokine receptor CCR8.

Surface Oncology is listed on the NASDAQ and employs 35 staff.

  • Market capitalization: $65,690,464

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8. Trillium Therapeutics (TRIL)

As of November 17, 2021, Trillium Therapeutics Inc. was acquired by Pfizer Inc. Trillium Therapeutics Inc.

Trillium Therapeutics is listed on the NASDAQ, has a trailing 12-month revenue of around USD$43,000 and employs 33 staff.

  • Market capitalization: $1,936,107,904
  • PEG ratio: 0

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9. Mersana Therapeutics (MRSN)

Mersana Therapeutics, Inc. , a clinical stage biopharmaceutical company, develops antibody drug conjugates (ADC) for cancer patients with unmet needs. The company develops XMT-1660, a B7-H4-targeted Dolasynthen ADC candidate; and XMT-2056, an immunosynthen ADC.

The latest price was $1.98 (25-minute delay). Mersana Therapeutics is listed on the NASDAQ, has a trailing 12-month revenue of around USD$38.3 million and employs 123 staff.

  • Market capitalization: $241,051,168
  • PEG ratio: 0

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Bottom line

While it’s possible to turn a profit investing in oncology stocks, keep in mind that — like any investment — oncology stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the cancer industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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