Cantor Fitzgerald analyst Louise Chen argues that the idiosyncratic risk/reward displayed in pharma, biopharma and biotech in 2022 is likely to persist through the first half of 2023. In this context, she "would be owning" Merck (MRK), calling it her top pick in large cap pharma. Among the small-to-mid caps in the space, Chen identifies Aclaris Therapeutics (ACRS), Arcutis Biotherapeutics (ARQT), EyePoint (EYPT), Vaxcyte (PCVX), Precigen (PGEN), ProQR Therapeutics (PRQR), Poseida Therapeutics (PSTX) and Roivant Sciences (ROIV) as top picks. Chen also highlights Fortress Biotech (FBIO) for its "risk-diversified partner-based business model." The analyst has Overweight ratings on all the stocks mentioned.
Published first on TheFly
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