Raymond James Updates Healthcare Top Picks with Three New Stocks
Raymond James, a financial services firm, has updated its Healthcare Top Picks list for October. Three new stocks have been added to replace others from the monthly selection.
Xencor Inc., Calyxt Inc., and UnitedHealth Group were added to the list, replacing Relay Therapeutics, Tyra Biosciences, and Oscar Health.
Raymond James anticipates significant interest in Xencor's dataset at ESMO at the end of October. The firm sees near-term upside to shares on a positive readout and clear path to pivotal development for XmAb819 in clear cell renal cell carcinoma.
Calyxt was added to the list due to its increasingly derisked setup for both of its lead assets, CLYM116 and budoprutug. The company anticipates sharing initial data from a Phase 2 study next year, which should solidify the drug's efficacy potential and dosing advantage in IgAN patients ahead of initiating a Phase 3 study.
UnitedHealth Group was added to the list ahead of third-quarter earnings in mid-October. The firm believes the recent pullback on Stars and midterm election-related concerns creates an attractive setup into what it expects to be a strong quarter.