Leerink Swann
Leerink Swann was the name, from 1995 to 2014, of the Boston healthcare investment bank now called Leerink Partners. Founded by Jeffrey A. Leerink, it was known for specialist life-sciences equity research and its MEDACorp expert network.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 012M
- Actions
- 012M
- On record
- Aug 2012 – Jul 2025
Overview
Its research covered healthcare exclusively, including biopharma, medical technology, and healthcare providers and managed care. Institutional Investor named three of its analysts 2013 Rising Stars; as Leerink Partners, the franchise rated 297 companies in January 2025. Its MEDACorp network had more than 35,000 members by 2010. Clients could join physician panel calls previewing medical meetings and late-breaking data, or meet network consultants in person at their own offices.
Jeffrey Leerink and partners founded Leerink Swann in Boston in 1995 to serve the emerging biotechnology industry, and set up the MEDACorp expert network in 1996. The firm renamed itself Leerink Partners in January 2014. SVB Financial Group acquired it for $280 million in 2019, operating it as SVB Leerink and later SVB Securities; after SVB's 2023 collapse, a Baupost-backed management buyout restored its independence under the Leerink Partners name.
Milestones
- 1995
Founded in Boston as Leerink Swann
- 1996
MEDACorp expert network established
- 2014
Renamed Leerink Partners
- 2019
Acquired by SVB Financial Group, becomes SVB Leerink
- 2023
Management buyout restores independence as Leerink Partners
Firm facts
- Legal name
- Leerink Swann LLC
- Type
- Boutique
- Founded
- 1995
- Headquarters
- Boston, United States
- Rating scale
- OutperformMarket PerformUnderperform12 months
- Status
- RetiredSucceeded by Leerink Partners
- Website
- leerink.com
Research philosophy
We deliver rigorously derived investment perspectives by combining strategic consulting and data-driven understanding.
Leerink Swann drew on its MEDACorp expert network to give clients insight into medical technologies and treatments. Analysts surveyed network members to inform their published research.
Rating methodology
Outperform, Market Perform and Underperform ratings measured expected performance against a healthcare benchmark over 12 months. Later benchmarks were the S&P 600 Health Care Index for companies with market capitalizations below $2 billion and the S&P 500 Health Care Index for those above $2 billion.
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 Sarepta Therapeutics, Inc.SRPT | Market Perform | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Jul 21, 2025 | Sarepta Therapeutics, Inc.SRPT | Downgrade | Outperform →Market Perform |
| Nov 25, 2020 | CICigna CorporationCI | Reiterate | Outperform |
| Nov 25, 2020 | CLCelldex Therapeutics, Inc.CLDX | Reiterate | Perform |
| Mar 4, 2019 | ALAlector, Inc.ALEC | Reiterate | Outperform |
| Feb 15, 2019 |  Agios Pharmaceuticals, Inc.AGIO | Upgrade | Market Perform →Outperform |
| Feb 8, 2019 | SLSolid Biosciences Inc.SLDB | Downgrade | Outperform →Market Perform |
| Jan 24, 2019 | ASAscendis Pharma A/SASND | Upgrade | Market Perform →Outperform |
| Jan 17, 2019 | PBPuma Biotechnology, Inc.PBYI | Reiterate | Perform |
| Dec 4, 2018 | VEVeeva Systems Inc.VEEV | Reiterate | Outperform |
| Nov 28, 2018 |  Ionis Pharmaceuticals, Inc.IONS | Reiterate | Perform |
| Nov 28, 2018 | RGREGENXBIO Inc.RGNX | Reiterate | Underperform |
| Nov 28, 2018 |  Alnylam Pharmaceuticals, Inc.ALNY | Reiterate | Perform |