Brookline Capital
Brookline Capital Markets is a New York-based boutique investment bank serving life sciences, medical technology and diagnostics companies and SPACs, operating as a division of broker-dealer Arcadia Securities, LLC. Its small research team covers mainly biotechnology companies.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 612M
- Actions
- 612M
- Ratings / Price targets
- 6 / 0
- Upgrades / Downgrades
- 1 / 2
- Buy-rated
- 67%of 6 rated
- On record
- Jul 2019 – Aug 2026
Overview
Brookline believes that its proven distribution model creates lasting shareholders, a crucial component to the sustainability of the companies that benefit from Brookline’s services.
Brookline's equity research concentrates on biotechnology and other healthcare companies and covered 41 companies as of January 2025, 83% of them rated Buy. Its salespeople distribute both proprietary and third-party research to institutional, family office and high-net-worth investors. Brookline describes its network of family offices and high-net-worth investors as a source of long-term capital from committed, patient and fundamental investors. As of 2026, it says repeat clients have made up more than 70% of its healthcare business since its 2013 founding.
Three former Wall Street colleagues co-founded Brookline in 2013; in its early years it was a life sciences-focused family office before building an investment banking business. Managing partner William Buchanan Jr. was previously chief executive of Lazard Capital Markets. Brookline earlier operated as a division of CIM Securities and now works through Arcadia Securities. It sponsored the SPAC Brookline Capital Acquisition Corp., which merged with Apexigen in July 2022.
Milestones
- 2013
Brookline Capital Markets co-founded in New York
- 2022
Sponsored SPAC Brookline Capital Acquisition Corp. merges with Apexigen
Firm facts
- Legal name
- Brookline Capital Markets, a division of Arcadia Securities, LLC
- Type
- Boutique
- Founded
- 2013
- Headquarters
- New York, United States
- Parent
- Arcadia Securities, LLC
- Director of Research
- Kemp Dolliver
- Rating scale
- BuyHoldSell
- Website
- brooklinecapmkts.com
Research philosophy
Brookline says its due diligence has earned it a reputation as a "curator" of healthcare investments. It describes deep sector knowledge and analytical expertise as central to its approach.
Rating methodology
Stocks are rated Buy (potential gain of more than 15%), Hold (a potential move of no more than 15% in either direction) or Sell (potential decline of more than 15%).
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Lisata Therapeutics, Inc.LSTA | Hold | — |
 Rein Therapeutics Inc.RNTX | Hold | — |
 Verrica Pharmaceuticals Inc.VRCA | Buy | — |
 C4 Therapeutics, Inc.CCCC | Buy | — |
 Intensity Therapeutics, Inc.INTS | Buy | — |
 Moderna, Inc.MRNA | Buy | — |
 Palisade Bio, Inc.PALI | Buy | — |
 SCYNEXIS, Inc.SCYX | Buy | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Aug 19 | Moderna, Inc.MRNA | Reiterate | Buy |
| Jul 31 | SCYNEXIS, Inc.SCYX | Reiterate | Buy |
| Feb 23 | C4 Therapeutics, Inc.CCCC | Reiterate | Buy |
| Jan 21 | Lisata Therapeutics, Inc.LSTA | Downgrade | Buy →Hold |
| Jan 21 | Rein Therapeutics Inc.RNTX | Downgrade | Buy →Hold |
| Dec 18, 2025 | Verrica Pharmaceuticals Inc.VRCA | Upgrade | Hold →Buy |
| Aug 19, 2025 | Rein Therapeutics Inc.RNTX | Downgrade | Buy →Hold |
| Aug 12, 2025 | Intensity Therapeutics, Inc.INTS | Upgrade | Hold →Buy |
| Jul 15, 2025 | Lisata Therapeutics, Inc.LSTA | Reiterate | Buy |
| May 13, 2025 | Palisade Bio, Inc.PALI | Reiterate | Buy |
| Oct 2, 2024 | Verrica Pharmaceuticals Inc.VRCA | Downgrade | Buy →Hold |
| May 15, 2024 | DADaré Bioscience, Inc.DARE | Upgrade | Hold →Buy |