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Stock Comparison

ANAB vs RCUS vs ARQT vs NKTR vs DAWN

Revenue, margins, valuation, and 5-year total return — side by side.

Live fundamentals10-year financials5-year price chart
ANAB
AnaptysBio, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$2.89B
5Y Perf.+320.9%
RCUS
Arcus Biosciences, Inc.

Biotechnology

HealthcareNYSE • US
Market Cap$2.50B
5Y Perf.-0.1%
ARQT
Arcutis Biotherapeutics, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$2.58B
5Y Perf.-21.6%
NKTR
Nektar Therapeutics

Biotechnology

HealthcareNASDAQ • US
Market Cap$1.69B
5Y Perf.-69.2%
DAWN
Day One Biopharmaceuticals, Inc.

Biotechnology

HealthcareNASDAQ • US
Market Cap$2.22B
5Y Perf.-9.5%

ANAB vs RCUS vs ARQT vs NKTR vs DAWN — Key Financials

Market cap, revenue, margins, and valuation side-by-side.

Company Snapshot
ANAB logoANAB
RCUS logoRCUS
ARQT logoARQT
NKTR logoNKTR
DAWN logoDAWN
IndustryBiotechnologyBiotechnologyBiotechnologyBiotechnologyBiotechnology
Market Cap$2.89B$2.50B$2.58B$1.69B$2.22B
Revenue (TTM)$235M$236M$416M$55M$158M
Net Income (TTM)$-13M$-369M$-2M$-164M$-107M
Gross Margin99.0%90.7%90.9%99.6%89.1%
Operating Margin20.4%-168.6%0.8%-237.9%-80.8%
Forward P/E77.6x
Total Debt$14M$99M$6M$149M$3M
Cash & Equiv.$238M$222M$43M$15M$197M

ANAB vs RCUS vs ARQT vs NKTR vs DAWNLong-Term Stock Performance

Price return indexed to 100 at period start. Dividends excluded.

ANAB
RCUS
ARQT
NKTR
DAWN
StockMay 21May 26Return
AnaptysBio, Inc. (ANAB)100420.9+320.9%
Arcus Biosciences, … (RCUS)10099.9-0.1%
Arcutis Biotherapeu… (ARQT)10078.4-21.6%
Nektar Therapeutics (NKTR)10030.8-69.2%
Day One Biopharmace… (DAWN)10090.5-9.5%

Price return only. Dividends and distributions are not included.

Quick Verdict: ANAB vs RCUS vs ARQT vs NKTR vs DAWN

Each card shows where this stock fits in a portfolio — not just who wins on paper.

Bottom line: ARQT leads in 2 of 6 categories (5-stock set), making it the strongest pick for profitability and margin quality and operational efficiency and capital deployment. AnaptysBio, Inc. is the stronger pick specifically for growth and revenue expansion. NKTR and DAWN also each lead in at least one category. As sector peers, any of these can serve as alternatives in the same allocation.
ANAB
AnaptysBio, Inc.
The Growth Play

ANAB is the #2 pick in this set and the best alternative if growth exposure and long-term compounding is your priority.

  • Rev growth 157.0%, EPS growth 91.0%, 3Y rev CAGR 183.6%
  • 491.0% 10Y total return vs RCUS's 45.9%
  • 157.0% revenue growth vs NKTR's -43.9%
Best for: growth exposure and long-term compounding
RCUS
Arcus Biosciences, Inc.
The Healthcare Pick

Among these 5 stocks, RCUS doesn't own a clear edge in any measured category.

Best for: healthcare exposure
ARQT
Arcutis Biotherapeutics, Inc.
The Quality Compounder

ARQT carries the broadest edge in this set and is the clearest fit for quality and efficiency.

  • -0.6% margin vs NKTR's -297.1%
  • -0.6% ROA vs NKTR's -62.8%, ROIC -5.2% vs -57.2%
Best for: quality and efficiency
NKTR
Nektar Therapeutics
The Momentum Pick

NKTR ranks third and is worth considering specifically for momentum.

  • +8.2% vs ARQT's +50.8%
Best for: momentum
DAWN
Day One Biopharmaceuticals, Inc.
The Income Pick

DAWN is the clearest fit if your priority is income & stability and sleep-well-at-night.

  • beta 0.35
  • Lower volatility, beta 0.35, Low D/E 0.6%, current ratio 8.02x
  • Beta 0.35, current ratio 8.02x
  • Beta 0.35 vs RCUS's 1.95, lower leverage
Best for: income & stability and sleep-well-at-night
See the full category breakdown
CategoryWinnerWhy
GrowthANAB logoANAB157.0% revenue growth vs NKTR's -43.9%
Quality / MarginsARQT logoARQT-0.6% margin vs NKTR's -297.1%
Stability / SafetyDAWN logoDAWNBeta 0.35 vs RCUS's 1.95, lower leverage
DividendsTieNone of these 5 stocks pay a meaningful dividend
Momentum (1Y)NKTR logoNKTR+8.2% vs ARQT's +50.8%
Efficiency (ROA)ARQT logoARQT-0.6% ROA vs NKTR's -62.8%, ROIC -5.2% vs -57.2%

ANAB vs RCUS vs ARQT vs NKTR vs DAWN — Revenue Breakdown by Segment

How each company's revenue is distributed across its business units

ANABAnaptysBio, Inc.

Segment breakdown not available.

RCUSArcus Biosciences, Inc.
FY 2025
License And Development Services
87.4%$221M
Development Services
6.7%$17M
R&D Services
3.2%$8M
License
2.8%$7M
ARQTArcutis Biotherapeutics, Inc.
FY 2023
Other Revenue
51.0%$30M
Product
49.0%$29M
NKTRNektar Therapeutics
FY 2025
Non Cash Royalty Revenue Related To Sale Of Future Royalties
99.5%$55M
License Collaboration And Other Revenue
0.5%$300,000
DAWNDay One Biopharmaceuticals, Inc.
FY 2025
Product
98.3%$155M
License
1.7%$3M

ANAB vs RCUS vs ARQT vs NKTR vs DAWN — Financial Metrics

Side-by-side numbers across 5 stocks — who leads on profitability, valuation, growth, and risk.

BEST OVERALLANABLAGGINGRCUS

Income & Cash Flow (Last 12 Months)

ANAB leads this category, winning 4 of 6 comparable metrics.

ARQT is the larger business by revenue, generating $416M annually — 7.5x NKTR's $55M. Profitability is closely matched — net margins range from -0.6% (ARQT) to -3.0% (NKTR). On growth, ANAB holds the edge at +151.1% YoY revenue growth, suggesting stronger near-term business momentum.

MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
RevenueTrailing 12 months$235M$236M$416M$55M$158M
EBITDAEarnings before interest/tax$50M-$391M$6M-$130M-$124M
Net IncomeAfter-tax profit-$13M-$369M-$2M-$164M-$107M
Free Cash FlowCash after capex$20M-$489M$27M-$209M-$108M
Gross MarginGross profit ÷ Revenue+99.0%+90.7%+90.9%+99.6%+89.1%
Operating MarginEBIT ÷ Revenue+20.4%-168.6%+0.8%-2.4%-80.8%
Net MarginNet income ÷ Revenue-5.6%-156.4%-0.6%-3.0%-67.8%
FCF MarginFCF ÷ Revenue+8.4%-2.1%+6.5%-3.8%-68.0%
Rev. Growth (YoY)Latest quarter vs prior year+151.1%-39.3%+60.1%-25.3%+83.9%
EPS Growth (YoY)Latest quarter vs prior year+3.1%+10.5%+55.0%-4.5%+70.0%
ANAB leads this category, winning 4 of 6 comparable metrics.

Valuation Metrics

ARQT leads this category, winning 2 of 3 comparable metrics.
MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
Market CapShares × price$2.9B$2.5B$2.6B$1.7B$2.2B
Enterprise ValueMkt cap + debt − cash$2.7B$2.4B$2.5B$1.8B$2.0B
Trailing P/EPrice ÷ TTM EPS-145.57x-7.54x-158.92x-8.57x-20.70x
Forward P/EPrice ÷ next-FY EPS est.77.64x
PEG RatioP/E ÷ EPS growth rate
EV / EBITDAEnterprise value multiple52.93x
Price / SalesMarket cap ÷ Revenue12.31x10.11x6.87x30.64x14.06x
Price / BookPrice ÷ Book value/share56.40x4.22x13.87x15.66x5.05x
Price / FCFMarket cap ÷ FCF147.25x
ARQT leads this category, winning 2 of 3 comparable metrics.

Profitability & Efficiency

ANAB leads this category, winning 4 of 9 comparable metrics.

ARQT delivers a -1.4% return on equity — every $100 of shareholder capital generates $-1 in annual profit, vs $-4 for NKTR. DAWN carries lower financial leverage with a 0.01x debt-to-equity ratio, signaling a more conservative balance sheet compared to NKTR's 1.66x. On the Piotroski fundamental quality scale (0–9), ANAB scores 6/9 vs RCUS's 0/9, reflecting solid financial health.

MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
ROE (TTM)Return on equity-24.5%-69.0%-1.4%-4.0%-23.4%
ROA (TTM)Return on assets-3.6%-35.3%-0.6%-62.8%-20.7%
ROICReturn on invested capital+55.1%-64.1%-5.2%-57.2%-30.5%
ROCEReturn on capital employed+12.5%-42.1%-4.3%-55.7%-26.7%
Piotroski ScoreFundamental quality 0–960424
Debt / EquityFinancial leverage0.38x0.16x0.03x1.66x0.01x
Net DebtTotal debt minus cash-$224M-$123M-$37M$134M-$194M
Cash & Equiv.Liquid assets$238M$222M$43M$15M$197M
Total DebtShort + long-term debt$14M$99M$6M$149M$3M
Interest CoverageEBIT ÷ Interest expense0.81x-13.38x2.08x-4.74x
ANAB leads this category, winning 4 of 9 comparable metrics.

Total Returns (Dividends Reinvested)

NKTR leads this category, winning 3 of 6 comparable metrics.

A $10,000 investment in ANAB five years ago would be worth $38,394 today (with dividends reinvested), compared to $2,765 for NKTR. Over the past 12 months, NKTR leads with a +818.2% total return vs ARQT's +50.8%. The 3-year compound annual growth rate (CAGR) favors NKTR at 93.3% vs RCUS's 7.7% — a key indicator of consistent wealth creation.

MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
YTD ReturnYear-to-date+123.4%+6.5%-28.8%+92.0%+143.3%
1-Year ReturnPast 12 months+410.4%+209.6%+50.8%+818.2%+241.7%
3-Year ReturnCumulative with dividends+374.6%+24.9%+44.9%+621.8%+65.1%
5-Year ReturnCumulative with dividends+283.9%-18.6%-39.5%-72.3%-8.4%
10-Year ReturnCumulative with dividends+491.0%+45.9%-5.2%-59.1%-8.4%
CAGR (3Y)Annualised 3-year return+68.0%+7.7%+13.2%+93.3%+18.2%
NKTR leads this category, winning 3 of 6 comparable metrics.

Risk & Volatility

DAWN leads this category, winning 2 of 2 comparable metrics.

DAWN is the less volatile stock with a 0.35 beta — it tends to amplify market swings less than RCUS's 1.95 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. DAWN currently trades 100.0% from its 52-week high vs ARQT's 65.0% drawdown — a narrower gap to the peak suggests stronger recent price momentum.

MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
Beta (5Y)Sensitivity to S&P 5001.00x1.95x1.48x1.85x0.35x
52-Week HighHighest price in past year$72.36$28.72$31.77$109.00$21.53
52-Week LowLowest price in past year$11.41$7.06$12.42$7.99$5.64
% of 52W HighCurrent price vs 52-week peak+92.5%+86.3%+65.0%+76.5%+100.0%
RSI (14)Momentum oscillator 0–10070.960.554.353.480.3
Avg Volume (50D)Average daily shares traded895K1.2M1.3M991K4.9M
DAWN leads this category, winning 2 of 2 comparable metrics.

Analyst Outlook

Insufficient data to determine a leader in this category.

Analyst consensus: ANAB as "Buy", RCUS as "Buy", ARQT as "Buy", NKTR as "Buy", DAWN as "Buy". Consensus price targets imply 71.8% upside for ARQT (target: $36) vs 10.3% for DAWN (target: $24).

MetricANAB logoANABAnaptysBio, Inc.RCUS logoRCUSArcus Biosciences…ARQT logoARQTArcutis Biotherap…NKTR logoNKTRNektar Therapeuti…DAWN logoDAWNDay One Biopharma…
Analyst RatingConsensus buy/hold/sellBuyBuyBuyBuyBuy
Price TargetConsensus 12-month target$73.88$30.00$35.50$132.83$23.75
# AnalystsCovering analysts2218123312
Dividend YieldAnnual dividend ÷ price
Dividend StreakConsecutive years of raises
Dividend / ShareAnnual DPS
Buyback YieldShare repurchases ÷ mkt cap+2.4%0.0%0.0%0.0%0.0%
Insufficient data to determine a leader in this category.
Key Takeaway

ANAB leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). ARQT leads in 1 (Valuation Metrics).

Best OverallAnaptysBio, Inc. (ANAB)Leads 2 of 6 categories
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ANAB vs RCUS vs ARQT vs NKTR vs DAWN: Key Questions Answered

9 questions · data-driven answers · updated daily

01

Is ANAB or RCUS or ARQT or NKTR or DAWN a better buy right now?

For growth investors, AnaptysBio, Inc.

(ANAB) is the stronger pick with 157. 0% revenue growth year-over-year, versus -43. 9% for Nektar Therapeutics (NKTR). Analysts rate AnaptysBio, Inc. (ANAB) a "Buy" — based on 22 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.

02

Which is the better long-term investment — ANAB or RCUS or ARQT or NKTR or DAWN?

Over the past 5 years, AnaptysBio, Inc.

(ANAB) delivered a total return of +283. 9%, compared to -72. 3% for Nektar Therapeutics (NKTR). Over 10 years, the gap is even starker: ANAB returned +491. 0% versus NKTR's -59. 1%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.

03

Which is safer — ANAB or RCUS or ARQT or NKTR or DAWN?

By beta (market sensitivity over 5 years), Day One Biopharmaceuticals, Inc.

(DAWN) is the lower-risk stock at 0. 35β versus Arcus Biosciences, Inc. 's 1. 95β — meaning RCUS is approximately 451% more volatile than DAWN relative to the S&P 500. On balance sheet safety, Day One Biopharmaceuticals, Inc. (DAWN) carries a lower debt/equity ratio of 1% versus 166% for Nektar Therapeutics — giving it more financial flexibility in a downturn.

04

Which is growing faster — ANAB or RCUS or ARQT or NKTR or DAWN?

By revenue growth (latest reported year), AnaptysBio, Inc.

(ANAB) is pulling ahead at 157. 0% versus -43. 9% for Nektar Therapeutics (NKTR). On earnings-per-share growth, the picture is similar: AnaptysBio, Inc. grew EPS 91. 0% year-over-year, compared to -12. 1% for Nektar Therapeutics. Over a 3-year CAGR, ARQT leads at 367. 3% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.

05

Which has better profit margins — ANAB or RCUS or ARQT or NKTR or DAWN?

Arcutis Biotherapeutics, Inc.

(ARQT) is the more profitable company, earning -4. 3% net margin versus -297. 1% for Nektar Therapeutics — meaning it keeps -4. 3% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ANAB leads at 20. 4% versus -236. 8% for NKTR. At the gross margin level — before operating expenses — NKTR leads at 100. 0%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.

06

Is ANAB or RCUS or ARQT or NKTR or DAWN more undervalued right now?

Analyst consensus price targets imply the most upside for ARQT: 71.

8% to $35. 50.

07

Which pays a better dividend — ANAB or RCUS or ARQT or NKTR or DAWN?

None of the stocks in this comparison currently pay a material dividend.

All are effectively zero-yield and should be held for capital appreciation rather than income.

08

Is ANAB or RCUS or ARQT or NKTR or DAWN better for a retirement portfolio?

For long-horizon retirement investors, Day One Biopharmaceuticals, Inc.

(DAWN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 35)). Arcus Biosciences, Inc. (RCUS) carries a higher beta of 1. 95 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (DAWN: -8. 4%, RCUS: +45. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.

09

What are the main differences between ANAB and RCUS and ARQT and NKTR and DAWN?

Both stocks operate in the Healthcare sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.

In terms of investment character: ANAB is a small-cap high-growth stock; RCUS is a small-cap quality compounder stock; ARQT is a small-cap high-growth stock; NKTR is a small-cap quality compounder stock; DAWN is a small-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.

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RCUS

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  • Sector: Healthcare
  • Market Cap > $100B
  • Gross Margin > 54%
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ARQT

High-Growth Disruptor

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 30%
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NKTR

Quality Business

  • Sector: Healthcare
  • Market Cap > $100B
  • Gross Margin > 59%
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DAWN

High-Growth Disruptor

  • Sector: Healthcare
  • Market Cap > $100B
  • Revenue Growth > 41%
  • Gross Margin > 53%
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Beat Both

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Revenue Growth>
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(ANAB: 151.1% · RCUS: -39.3%)

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