Leerink Partners
Leerink Partners is a Boston-based, employee-owned investment bank dedicated exclusively to healthcare and life sciences. Its equity research on biopharma, medical technology, life science tools and healthcare services supports its healthcare capital-markets and M&A business.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 20812M
- Actions
- 39212M
- Ratings / Price targets
- 162 / 230
- Upgrades / Downgrades
- 21 / 19
- Buy-rated
- 75%of 123 rated
- Median upside
- +37.1%
- Targets raised / lowered
- 76 / 43
- On record
- Jul 2021 – Sep 2026
Overview
Leerink covers more than 280 companies across the healthcare ecosystem as of 2026, with teams for biopharma sub-sectors such as oncology, immunology, rare disease and neuroscience, plus medical devices, life science tools and diagnostics, healthcare technology, and providers and managed care. Several senior analysts have been ranked by Institutional Investor. At end-2024, 74% of covered stocks were rated Outperform. As of 2026, the affiliated MEDACorp network includes about 20,000 clinicians, scientists and regulatory and reimbursement experts bound by confidentiality rules.
Jeffrey Leerink founded the firm in Boston in 1995 as Leerink Swann, renaming it Leerink Partners in 2014. SVB Financial Group bought it for $280 million in January 2019, operating it as SVB Leerink and, from February 2022, SVB Securities. After Silicon Valley Bank failed in March 2023, a management buyout backed by The Baupost Group closed in October 2023, restoring the Leerink Partners name and employee ownership.
Milestones
- 1995
Founded in Boston as Leerink Swann
- 2014
Rebranded as Leerink Partners
- 2019
Acquired by SVB Financial Group, renamed SVB Leerink
- 2022
Renamed SVB Securities
- 2023
Management buyout backed by Baupost restores Leerink Partners name
- 2024
Tom Davidson joins as co-president to build M&A
Firm facts
- Legal name
- Leerink Partners LLC
- Type
- Boutique
- Founded
- 1995
- Headquarters
- Boston, United States
- Chairman and Chief Executive Officer
- Jeffrey A. Leerink
- Director of Equity Research
- Jim Kelly
- Rating scale
- OutperformMarket PerformUnderperform12 months
- Predecessors
- Leerink Swann
- Website
- leerink.com
Research philosophy
We continually strengthen our deep knowledge of the healthcare industry in order to be an indispensable advisor to our clients.
Several of Leerink's senior analysts are physicians or PhD scientists, and the firm says its research pairs their Wall Street and industry experience with the expertise of the affiliated MEDACorp network. Its Center for Pharmacoeconomics, a MEDACorp division, models the health and economic value of new treatments for patients and society.
Rating methodology
Ratings are Outperform, Market Perform and Underperform against S&P health care indexes over 12 months.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Hims & Hers Health, Inc.HIMS | Market Perform | $25 |
 Regeneron Pharmaceuticals, Inc.REGN | Market Perform | $824 |
 Eli Lilly and CompanyLLY | Outperform | $1,232 |
 ICON Public Limited CompanyICLR | Outperform | $145 |
 uniQure N.V.QURE | Outperform | $70 |
 Agios Pharmaceuticals, Inc.AGIO | Outperform | $40 |
 BridgeBio Pharma, Inc.BBIO | Outperform | $98 |
 Elanco Animal Health IncorporatedELAN | Outperform | $30 |
 Lexeo Therapeutics, Inc. Common StockLXEO | Outperform | $20 |
 Roivant Sciences Ltd.ROIV | Outperform | $42 |
Most active analysts
- Michael Cherny24 notesHIMSCAHICLR
- David Risinger20 notesROIVLLYPCVX
- Andrew Berens16 notesLLYREGNZYME
- Mike Kratky14 notesBSXMDTDXCM
- Mani Foroohar13 notesBBIORGNXBNTC
- Whit Mayo11 notesACHCUNHAIRS
Recent actions
| Date | Stock | Rating action | Rating | Target | Analyst |
|---|---|---|---|---|---|
| Sep 22 | OBObsidian Therapeutics Inc.OBX | Target | $32 | ||
| Sep 21 | BLBlossomHill Therapeutics, Inc.BLSM | Reiterate | Outperform | $36 →$40 | |
| Sep 18 | ENEntera Bio Ltd.ENTX | Target | $9 | ||
| Sep 18 | ELEloxx Pharmaceuticals, Inc.ELOX | Target | $32 | ||
| Sep 18 | THTenet Healthcare CorporationTHC | Reiterate | Outperform | ||
| Sep 18 | ARArdent Health Partners, LLCARDT | Reiterate | Outperform | ||
| Sep 18 | UHUniversal Health Services, Inc.UHS | Reiterate | Outperform | ||
| Sep 18 | HCHCA Healthcare, Inc.HCA | Reiterate | Outperform | ||
| Sep 17 | TWTwist Bioscience CorporationTWST | Reiterate | Outperform | $110 →$160 | Puneet Souda |
| Sep 14 | PTPTC Therapeutics, Inc.PTCT | Target | $98 |