William Blair & Company’s report outlined some key themes and significant trends to monitor while entering 2023, providing its top stock ideas for the upcoming 12-month period.
- Seagen Inc.’s SGEN Padcev could potentially revolutionize the treatment paradigm for metastatic urothelial carcinoma. The analyst also said Seagen’s status as a large-cap biopharmaceutical might provide a means for investors to manage volatility against macro uncertainty.
Related: Merck’s Buyout Of Seagen Hits Speed Braker Over Price Agreement: Report
- For Neurocrine Biosciences, Inc. NBIX, William Blair wrote the company was in the midst of one of the most successful neurology drug launches in recent history with Ingrezza. Free cash flow helped support a deeply underappreciated pipeline without the need for dilutive financing in this uncertain macro environment.
- The analyst wrote Krystal Biotech Inc.’s KRYS HSV-1 platform and its de-risked use in dermatologic conditions made it an attractive takeout candidate. Its subsidiary, Jeune, was considered a differentiated technology in the aesthetic indications space.
- Chinook Therapeutics Inc KDNY performed well in 2022, and the continued flow of clinical updates on internal programs might drive an upside for the stock. The company was well funded, taking near-term capital risk off the table in the macro environment. William Blair said Chinook was well positioned in the rapidly evolving landscape.
- For UniQure NV QURE, William Blair said two main drivers — Hemgenix (Hemophilia B gene therapy) launch and additional clinical data from the Phase 1/2 trial of AMT130 for Huntington’s disease — could lead to a significant upside for the stock in 2023.
- Albireo Pharma Inc ALBO was William Blair’s top pick saying Bylvay sales should continue to ramp up through 2023 as the launch in the product’s first indication, PFIC, gained steam while approval in Alagille syndrome in the U.S. and Europe expected in 2023, could more the double the number of addressable patients for the product.