Deals
Biotech Analysts See Deals, Drug Data Carrying 2020 Performance
- Street expects M&A to focus on smaller, more innovative firms
- Election may dent sentiment though deals remain a key driver
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Biotechnology analysts expect another strong performance in 2020 after stocks rose almost 25% this year.
The group has caught fire over the past few months, led by strong results for drug candidates and large pharma deals at massive premiums. Analysts and investors polled by Bloomberg News expect those gains to continue as companies developing next-generation medicines like gene therapy have piqued Wall Street’s interest. Credit Suisse’s Martin Auster said Sarepta Therapeutics Inc., BioMarin Pharmaceutical Inc. and UniQure N.V. all face “make-or-break catalysts” in the next year.