Leerink Partners
Leerink Partners LLC
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.
Company history
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.
- 1995Founded in Boston as Leerink Swann
- 2014Rebranded as Leerink Partners
- 2019Acquired by SVB Financial Group, renamed SVB Leerink
- 2022Renamed SVB Securities
- 2023Management buyout backed by Baupost restores Leerink Partners name
- 2024Tom Davidson joins as co-president to build M&A
Research
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. Ratings are Outperform, Market Perform and Underperform against S&P health care indexes over 12 months; 74% of covered stocks were rated Outperform at end-2024.
Coverage12M
- Stocks
- 208
- Ratings
- 162
- Price targets
- 230
- Median upside
- +37.1%
- Upgrades
- 21
- Downgrades
- 19
- Initiations
- 0
- Reiterations
- 122
- Targets raised
- 76
- Targets cut
- 43
- Positive75%92
- Neutral24%30
- Negative1%1
Sectors
Ratings
Listing
Activity24M
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 HIMSHims & Hers Health, Inc. | Market Perform | $25 |
 REGNRegeneron Pharmaceuticals, Inc. | Market Perform | $824 |
 LLYEli Lilly and Company | Outperform | $1,232 |
 ICLRICON Public Limited Company | Outperform | $145 |
 QUREuniQure N.V. | Outperform | $70 |
 AGIOAgios Pharmaceuticals, Inc. | Outperform | $40 |
 BBIOBridgeBio Pharma, Inc. | Outperform | $98 |
 ELANElanco Animal Health Incorporated | Outperform | $30 |
 LXEOLexeo Therapeutics, Inc. Common Stock | Outperform | $20 |
 ROIVRoivant Sciences Ltd. | Outperform | $42 |
Analysts24M
- Michael ChernyHIMS · CAH · ICLR24
- David RisingerROIV · LLY · PCVX20
- Andrew BerensLLY · REGN · ZYME16
- Mike KratkyBSX · MDT · DXCM14
- Mani ForooharBBIO · RGNX · BNTC13
- Whit MayoACHC · UNH · AIRS11
Recent actions
| Stock | Rating action | Rating | Target | Date |
|---|---|---|---|---|
| OBObsidian Therapeutics Inc.OBX | Target | $32 | Sep 22 | |
| BLBlossomHill Therapeutics, Inc.BLSM | Reiterate | Outperform | $36 →$40 | Sep 21 |
| 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 18 | |
| TWTwist Bioscience CorporationTWST | Reiterate | Outperform | $110 →$160 | Sep 17 |
| PTPTC Therapeutics, Inc.PTCT | Target | $98 | Sep 14 |
Similar coverage12M
References
- Leerink Partners - Wikipediaen.wikipedia.org
- SVB Financial Group Completes Acquisition of Healthcare Investment Bank Leerink Partnerssvb.com
- Leerink Partners Successfully Completes Management Buy-Outleerink.com
- Tom Davidson Joins Leerink Partners as Co-Presidentleerink.com
- Equity Research - Leerink Partnersleerink.com
- Leerink Partners Coverage List (February 2025)leerink.com