Top healthcare stocks to watch in 2026, according to Mizuho’s latest update
Mizuho updated its U.S. healthcare “Top Picks” list for 2026, citing seven companies across biotech, medical devices, and healthcare services. Highlights include Eyepoint Pharmaceuticals (Duravyu Phase 3 data expected Aug 2026), Vaxcyte (PCV Phase 3 OPUS-1 data in Q4 2026), Erasca (raised about $632.5M in an offering), and Arcutis (Zoryve guidance $480M-$495M for 2026).
How this was made
The 30-second read
Why it matters
The article is mainly an analyst conviction and catalyst calendar, with a few concrete datapoints (e.g., offering size, specific trial milestones, and some quarterly beats/raised outlooks). It is not a single-company breaking event report.
Market read
Traders can use the list as a catalyst watchlist, but the article itself does not introduce a single fresh, market-moving disclosure across the group.
What to watch
Dilution and financing risk are relevant for names like Erasca, while regulatory timing for dermatology and vaccine programs can slip, reducing the reliability of the forecasted catalyst windows.
Background
Mizuho published an updated US healthcare Top Picks list after its August update, selecting seven high-conviction names across biotech, devices, and healthcare services.
Ticker impact
Mizuho names Eyepoint as its 2026 top pick, citing Duravyu Phase 3 LUGANO top-line data expected in August 2026 and a raised price target.
Moderate upside bias into the August 2026 data window, with volatility around trial updates.
The article provides specific timing for Phase 3 top-line data and notes positive safety committee guidance plus a price-target increase, but it is still an analyst list rather than a new clinical or regulatory event.
Mizuho highlights Vaxcyte’s VAX-31 Phase 3 advancement and expects OPUS-1 non-inferiority data in Q4 2026, plus first dosing in Phase 1 for VAX-A1.
Gradual positive repricing possible as Q4 2026 approaches, with additional upside sensitivity to Phase 3 progress updates.
The text includes concrete program milestones and first dosing, but the overall framing is a “Top Picks” list, limiting immediacy versus a standalone trial result or filing.
Mizuho’s list spotlights Erasca’s RAS inhibitor pipeline and notes ERAS-0015’s 62% response rate plus a recent public stock offering grossing about $632.5 million.
Near-term reaction likely mixed: funding supports runway, while dilution risk can cap upside until follow-on data.
The offering is a concrete event, but the piece does not provide new post-offering guidance or immediate trial readouts beyond previously framed efficacy.
Mizuho flags Arcutis’ Zoryve sales outlook, including 2026 guidance of $480 million to $495 million and potential infant atopic dermatitis FDA approval in early 2027.
Positive medium-term bias, with upside skew if regulatory timelines firm up closer to early 2027.
The article includes specific sales guidance and a defined regulatory timing expectation, but it is still an analyst-driven watchlist rather than a new FDA decision.
Mizuho cites AxoGen’s BLA license for Avance Nerve Allograft (broad label) and expects full-year top-line growth near 20% versus an 18% Street forecast.
Potential upward drift as investors price in label-driven adoption, with sensitivity to subsequent quarterly execution.
The BLA license is a concrete regulatory milestone and the article provides a specific growth comparison, but it is presented as part of a sector picks list.
Mizuho highlights Encompass Health’s strong demand metrics, including 78.7% occupancy in Q1 2026 and a raised full-year outlook after Q2 results beat.
Mild-to-moderate upside bias if the raised outlook is sustained, with downside risk if occupancy/discharge trends soften.
The article includes specific operational KPIs and mentions an outlook raise, but it does not add a brand-new earnings print beyond what is already referenced.
Mizuho’s Solventum item notes Q2 2026 revenue of $2.2 billion and adjusted EPS of $2.55, both above estimates, plus an outlook lift after the Purification & Filtration divestiture.
Positive near-term bias, with follow-through dependent on how debt paydown and tuck-in M&A translate into earnings.
The article provides concrete quarterly results and an outlook lift, but the overall format remains an analyst top-picks compilation rather than a fresh earnings release.
Market effects
Reinforces a catalyst-driven stance across biotech, devices, and services, potentially supporting relative inflows to high-conviction healthcare names.
Primarily US healthcare equities, with no explicit cross-region policy or macro shock described.
Limited global spillover; most catalysts are company-specific clinical, regulatory, or execution milestones.
Counterpoint
Because this is a “Top Picks” list, some catalysts are expectations (timing and approval windows) rather than newly reported trial outcomes, which can lead to crowded positioning and disappointment risk.
Key entities
- sell-side firmMizuho
Published the Top Picks list and provided conviction-driven catalyst expectations for multiple US healthcare companies.
- companyEyepoint Pharmaceuticals
Duravyu Phase 3 LUGANO top-line expected in August 2026; Mizuho raised its price target.
- companyVaxcyte
VAX-31 Phase 3 and OPUS-1 non-inferiority data expected in Q4 2026; first dosing in VAX-A1 Phase 1.
- companyErasca
RAS inhibitor pipeline highlighted; notes a public stock offering grossing about $632.5 million.
- companyArcutis Biotherapeutics
Zoryve sales guidance and potential early-2027 infant atopic dermatitis approval discussed.
