Oppenheimer analyst Hartaj Singh expects the annual healthcare gatherings in San Francisco at the start of 2023 to provide positive momentum to biotech stocks. However, fundamentals for the biotechnology sector "are still in flux," and two important trends make small- and mid-cap names difficult for investors – financing risk and regulatory complexity, Singh tells investors in a research note. The analyst thinks certain large-caps names will be "safe havens" in the first half of 2023, namely Gilead (GILD), Vertex Pharmaceuticals (VRTX) and Regeneron (REGN). The three offer "unique characteristics" that the stocks likely to outperform in 2023, contends Singh. Gilead consensus estimates are too conservative, Vertex’s profit growth and pipeline are underappreciated, and Regeneron’s base businesses should "shine" in 2023, writes the analyst.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GILD:
- Gilead to buy remaining rights for GS-1811 from Jounce Therapeutics for $67M
- Kite says Yescarta now approved in Japan for initial treatment
- Gilead’s Sunlenca could expand into broader HIV, says Piper Sandler
- Gilead announces Sunlenca granted FDA approval in multidrug resistant HIV
- Gilead expects Tmunity acquisition to reduce FY23 EPS by 18c-22c