Raymond James Taps Three New Healthcare Top Picks for October
Raymond James has updated its Healthcare Top Picks list for October, adding three new stocks while removing others from the monthly selection.
The firm added Xencor Inc. (XNCR) to replace Relay Therapeutics, citing significant interest in Xencor's dataset at ESMO at the end of October and near-term upside on a positive readout and clear path to pivotal development for XmAb819 in clear cell renal cell carcinoma.
Raymond James also added Calyxt to its list, replacing Tyra Biosciences. The firm sees an increasingly derisked setup for both of Calyxt's lead assets, CLYM116 and budoprutug, which will present additional data in the fourth quarter of 2026 across three high-value indications.
The firm added UnitedHealth Group ahead of third-quarter earnings in mid-October, replacing Oscar Health. Raymond James believes the recent pullback on Stars and midterm election-related concerns creates an attractive setup into what it expects to be a strong quarter.