Small to mid-cap biotechnology companies are likely to see macro headwinds extend through the year, with tariff concerns and turnover at the US Food and Drug Administration further fueling near-term uncertainty, BofA Securities said in a Thursday note.
BofA Securities said an example of the FDA turnover's impact is the pause on the review of Novavax's (NVAX) Nuvaxovid COVID-19 vaccine, but the magnitude of recent layovers at the FDA "could take time to materialize."
The investment firm also said that "headline risk" continues to be a headwind but could decrease since pharmaceuticals are being exempted from US President Donald Trump's reciprocal tariffs, which should provide "near-term reprieve for the sector." The analysts said many of the small to mid-cap biotechnology firms have "little exposure" to tariffs as about 80% of them are "pre-commercial."
BofA Securities said Agios Pharmaceuticals (AGIO), Janux Therapeutics (JANX), CRISPR Therapeutics (CRSP), and Revolution Medicines (RVMD) are its top small to mid-cap biotech picks for 2025.
Price: 5.52, Change: -0.47, Percent Change: -7.78
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。