Oppenheimer previewed the upcoming year for the firm’s Biotechnology coverage and said the firm’s top ideas for 2025 are Capricor (CAPR), Gilead (GILD), Kymera (KYMR), MoonLake (MLTX), Praxis (PRAX), and Prothena (PRTA). The firm sees reasons to be bullish on developmental-stage biotechnology equities overall for 2025, including relative undervaluation compared to other segments of the equity market, a trend toward lower long-term interest rates, prospects for a robust M&A environment, and strong internal industry fundamentals. The backlog of potential transformative, stock-moving catalysts among public biotechnology companies is the strongest it has been in years, Oppenheimer tells investors in a research note, and the firm further expects a trend back toward upward stock-price follow-through post positive data releases.
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