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Bank of America just added these biotech stocks to its list of first-quarter picks

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The biotech sector is hot on Wall Street right now. Here are some of Bank of America's favorite stocks going into 2023.

BofA has added a number of biotechnology stocks — a sector that is hot on Wall Street right now – to its list of top picks for the first quarter. The bank identified the biotech stocks, as well as some medical technology companies, as part of its thematic investing picks, on themes it says are related to a "transforming world." BofA listed the stocks under themes such as ageing, obesity and pandemic.

The issue of obesity also presents opportunities across pharmaceutical, healthy eating and wellness, according to BofA. The World Health Organisation puts the number of people worldwide who are overweight or obese at 1.9 billion. One of Bank of America's new additions under this theme is medical equipment company ResMed . All of the stocks are buy-rated by BofA analysts.

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