Piper Sandler analyst Edward Tenthoff named his top biotechnology picks for 2023. His top picks are next year are Legend Biotech (LEGN) for Carvykti growth and label expansion, Arrowhead (ARWR) for late-stage cardiovascular data, and Seres Therapeutics (MCRB) for SER-109 approval and launch. After another difficult year in 2022, there are signs of biotech recovery in 2023, Tenthoff tells investors in a research note. He says biopharma is defensive in a recession as patients continue to take their medicine. The analyst looks for several product launches, clinical data readouts and innovative pipeline progress, "all at attractive valuations."
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Published first on TheFly
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