2026美股生物科技板块怎么投资？杰富瑞：关注6大首选、7大潜力和5大并购目标

Core Insights - Jefferies recently released a report on the outlook for the U.S. biotech industry in 2026, focusing on preferred investment targets, undervalued potential companies, and potential acquisition opportunities. The report highlights that the biotech sector will see multiple key clinical trial data disclosures, new drug approvals, and policy developments in 2026, with companies in niche segments likely to achieve value re-evaluation through technological breakthroughs and commercialization progress [1]. Preferred Investment Targets - Jefferies identified six core recommended companies for 2026 based on market catalysts and valuation potential: - Dianthus Therapeutics: Target price of $66, focusing on the drug claseprubart for various neuromuscular diseases, with peak revenue estimated at $2 billion. Key milestones include mid-analysis of Phase III trials for CIDP and initiation of trials for gMG in 2026 [1]. - Taysha Gene Therapies: Target price of $11, with TSHA-102 for Rett syndrome showing significant market potential (peak revenue of $2 billion). Phase III trial data is expected by the end of 2026 [2]. - Tyra Biosciences: Target price of $32, with the drug dabogratinib showing disruptive potential in bladder cancer and achondroplasia. Key data is expected next year [2]. - Tango Therapeutics: Target price of $14, exploring a combination therapy for pancreatic cancer with expected data release in mid-2026 [2]. - ORIC Pharmaceuticals: Target price of $23, with two key assets targeting prostate cancer and lung cancer. Key data updates are anticipated next year [3]. - Solid Biosciences: Target price of $15, focusing on gene therapy for Duchenne muscular dystrophy, with critical meetings with the FDA planned for 2026 [3]. Undervalued Companies - The report highlights seven undervalued companies with significant catalysts and potential for value re-evaluation: - Ultragenyx Pharmaceutical: Target price of $114, with a current undervalued stock price. Key catalysts include Phase III data for setrusumab expected in late 2025 to early 2026, potentially driving a 100% stock price increase [4]. - Beam Therapeutics: Target price of $41, focusing on gene editing with promising data updates expected in early 2026 [5]. - Aurinia Pharmaceuticals: Target price of $21, with steady growth in lupus nephritis treatment and new drug development expected to drive growth [5]. - Kodiak Sciences: Target price of $39, with three Phase III trial data readouts expected in 2026 [6]. - Intellia Therapeutics: Target price of $45, with key data for hereditary angioedema therapy expected in mid-2026 [6]. - Compass Therapeutics: Target price of $8, with upcoming data for cholangiocarcinoma therapy expected in early 2026 [6]. - KalVista Pharmaceuticals: Target price of $38, with a first-in-class oral treatment for hereditary angioedema expected to drive rapid growth [7]. Potential Acquisition Targets - Jefferies identified five companies that may become acquisition targets in 2026 due to their unique assets or market positions: - Arrowhead Pharmaceuticals: Strong RNAi product line in cardiovascular metabolism and new obesity targets [8]. - Celcuity: Unique efficacy of gedatolisib in PIK3CA wild-type breast cancer [8]. - ORIC Pharmaceuticals: High-value prostate and lung cancer projects [8]. - Travere Therapeutics: Potential market expansion in rare kidney diseases if FSGS indication is approved [8]. - KalVista Pharmaceuticals: First-mover advantage and strong growth in oral HAE treatment [8].