May. 28 at 8:45 PM
J.P. Morgan reinstated coverage on 14 large-cap biotech companies, saying the sector is nearing a major inflection point as strong drug pipelines increasingly translate into profitable and diversified businesses. The bank noted many biotech firms are approaching sustained profitability, supported by expanding product portfolios, improving margins, and upcoming clinical catalysts.
The firm assigned Overweight ratings to Vertex Pharmaceuticals, Alnylam Pharmaceuticals, BeOne Medicines, United Therapeutics, Insmed, Ascendis Pharma, Jazz Pharmaceuticals, Ionis Pharmaceuticals, BioMarin Pharmaceutical, and Mirum Pharmaceuticals. Neutral ratings were maintained on BioNTech, Incyte, and Halozyme Therapeutics, while Moderna received an Underweight rating.
J.P. Morgan highlighted Vertex’s expansion beyond cystic fibrosis, Alnylam’s strong Amvuttra growth, and continued momentum for BeOne Medicines and United Therapeutics.
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