Equity Research Associate, Healthcare Sector

About the role

We are seeking an Equity Research Associate (RA) to join our Global Industry Research Healthcare Team. In this role, the RA will work closely with a senior Global Industry Analyst (GIA) to support coverage across the global biopharma universe, including large-cap pharmaceutical companies and SMID-cap biotechnology companies across the U.S. and Europe.

Responsibilities

• Maintaining industry and comparative valuation models across large-cap pharmaceutical and biotechnology companies;
• Building and maintaining company financial models with a focus on pipeline valuation and drug-level forecasting;
• Assessing probability of success for clinical assets and incorporating these assumptions into investment frameworks;
• Analyzing clinical data, regulatory developments, prescription and market data, and other industry datasets to evaluate company fundamentals and competitive dynamics;
• Performing ongoing due diligence across the global biopharma landscape, identifying emerging investment opportunities and key risks;
• Executing complex analytical projects leveraging AI, data, and other tools under tight time constraints;
• Staying abreast of relevant company, clinical, and industry materials, including trial readouts, regulatory updates, and scientific publications;
• Contributing to idea generation across both long and short investment opportunities.

Essential Skills

• Analytical acumen and passion for markets – The ideal candidate will possess strong financial modeling skills and the ability to analyze both clinical and financial datasets, while leveraging AI and data tools to drive deeper and more efficient research.
• Prior experience in healthcare or biopharma equity research, ideally in a buy-side or sell-side research associate role.
• Experience analyzing pharmaceutical pipelines, clinical data, and industry datasets (including prescription or market data).
• Financial modeling experience, including valuation frameworks for pharmaceutical and biotechnology companies.
• Understanding of long/short investing concepts and risk management approaches is beneficial.
• Strong analytical and problem-solving abilities.
• A strong data and technology skills, including experience using tools to screen, rank, and analyze large stock universes.
• A willingness to lead effort to integrate AI into research processes.
• A sound judgment, strong work ethic, and the highest level of personal and professional integrity.
• The ability to work independently and make decisions in the face of uncertainty.
• Strong organizational skills and attention to detail.
• Excellent written and verbal communication skills.

Qualifications

• A minimum of 3 years of relevant investment experience.
• Understanding of long/short investing concepts and risk management approaches is beneficial.
• Strong analytical and problem-solving abilities.
• A strong data and technology skills, including experience using tools to screen, rank, and analyze large stock universes.
• A willingness to lead effort to integrate AI into research processes.
• A sound judgment, strong work ethic, and the highest level of personal and professional integrity.
• The ability to work independently and make decisions in the face of uncertainty.
• Strong organizational skills and attention to detail.
• Excellent written and verbal communication skills.