I’m Eyeing 2 Biopharma Stocks While Everyone Else Gawks at Big Tech
Most biotech stocks haven’t made the headlines the way Big Tech names have been. The biotechs also didn’t report blowout first-quarter results, as did most of Big Tech this earnings season.
Just look at the semiconductors. They remain on the tip of the spear of this recent advance, as they have throughout most of 2026. Yesterday, it was Micron Technology (MU) moving up 19% as UBS reiterated its “Buy” rating on the chipmaker and tripled its price target to $1,625 a share. The stock is now up over 800% over the last year and sports a $1 trillion market capitalization. Micron’s big rise Tuesday powered the Philadelphia Semiconductor Index to better than a 5% gain.
That said, I am finding much more reasonable valuations in the biotechnology sector. I’m also finding solid covered-call trade opportunities. In today’s column, I will highlight two names where the story has brightened somewhat in recent months and where I see value over the long term.
Let’s start with Corcept Therapeutics (CORT). I last positively profiled this mid-cap biopharma name in January. The stock is up more than 70% in 2026 year to date. I am not currently chasing the rally. That said, the name is on my buying list should the overall market experience a decent decline. Provided that has not been outlawed in the AI age.
The company posted mixed Q1 numbers at the end of April, even as management nicely boosted its fiscal 2026 sales forecast. In mid-March, an insider purchased over $3 million worth of shares. A rare event in this overbought market. Roughly a week later, the Food and Drug Administration blessed the company’s cancer treatment relacorilant. It is now approved as a treatment for adults with late -line platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer in combination with chemotherapy nab-paclitaxel.
Relacorilant will now be known under its brand name Lifyorli. The FDA approval came several months earlier than its scheduled review date. The therapy had recently posted impressive late-stage trial results, which I covered in my previous article. UBS upgraded the shares two weeks ago and raised its price target to $72 a share, from $44. I wouldn’t be surprised to see further analyst firm upgrades in the weeks ahead. That stated, some profit taking is probably overdue and I will be there to scoop up some additional shares should that occur.
My second name is Precigen, Inc. (PGEN). This is a stock I added to my holdings via covered-call orders earlier this week. Fellow RMP contributor James DePorre gave this small biotech name a shout out earlier this week. The company reported better-than-expected results in mid-May. This was driven by initial sales traction from the company’s Papzimeos, an immunotherapy that was approved late last summer. Management now projects the company will achieve cash flow breakeven status by year’s end. A couple of small analyst firms have boosted their price target up slightly to an identical $11 a share. The stock currently trades just over four bucks a share.
At the time of publication, Jensen was long CORT and PGEN.
