Evercore ISI says three years of biotech underperformance may be ending. Gives its 5 favorite stocks

  • 📰 CNBC
  • ⏱ Reading Time:
  • 26 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 56%
  • Publisher: 72%

Breaking News: Investing News

Wall Street,Business,Markets

Evercore initiated coverage on the biotech sector and named its seven favorite stocks it calls 'The Magnificent Seven.'

The outlook on biotechnology is finally turning positive, according to Evercore ISI, which launched coverage of the sector with "an increasingly constructive view" as it expects more room for upside ahead. "After 3 years of painful underperformance, winter is finally thawing and spring just might be in the air," analyst Cory Kasimov wrote in a Monday note. Biotech stocks broadly peaked in early 2021 when interest rates were at a trough, Kasimov noted.

" "We favor names and are initially launching on cos with clear clinical narratives and/or commercial upside. We've got our hands in all the hot areas … oncology, neuro, rare, cardiometabolic, etc.," Kasimov said. The analyst is overweight on five companies: Regeneron , BioMarin , Neurocrine , BridgeBio and Arcellx . He forecasts strong earnings and cash flows for Regernon and highlighted its broad pipeline. That stock has climbed nearly 11% from the start of the year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

iPhone sales will continue to grow despite market pessimism says Evercore ISIiPhone sales will continue to grow despite market pessimism says Evercore ISI
Source: Investingcom - 🏆 450. / 53 Read more »