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

Core Viewpoint - 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 dynamics, with companies in niche segments expected to achieve value re-evaluation through technological breakthroughs and commercialization progress [1]. Six Preferred Targets - Jefferies identified six companies as core recommendations for 2026 based on market catalysts and valuation potential: - Dianthus Therapeutics (DNTH.US), target price $66: Focused on the drug claseprubart, showing potential in various neuromuscular diseases with an estimated peak revenue of $2 billion. Key milestones include mid-analysis of Phase III trials for CIDP and initiation of trials for gMG in 2026 [3]. - Taysha Gene Therapies (TSHA.US), target price $11: The gene therapy TSHA-102 for Rett syndrome has a market potential of $2 billion. The three-phase clinical trial is expected to disclose mid-term data by the end of 2026 [3]. - Tyra Biosciences (TYRA.US), target price $32: The oral FGFR3 inhibitor dabogratinib has disruptive potential in two areas, with key data expected next year [4]. - Tango Therapeutics (TNGX.US), target price $14: Collaborating with Revolution Medicines to explore a combination therapy for pancreatic cancer, with data expected in the first half of 2026 [4]. - ORIC Pharmaceuticals (ORIC.US), target price $23: Focused on two potential assets for prostate cancer and lung cancer, with key catalysts expected next year [5]. - Solid Biosciences (SLDB.US), target price $15: Concentrating on gene therapy for Duchenne muscular dystrophy, with critical meetings with the FDA planned for 2026 [5]. Seven Undervalued Companies - The report highlights seven companies with significant catalysts and potential for value re-evaluation: - Ultragenyx Pharmaceutical (RARE.US), target price $114: Current stock price undervalued, with key catalysts expected in 2026, including data for treatments of osteogenesis imperfecta and Angelman syndrome [6]. - Beam Therapeutics (BEAM.US), target price $41: Focused on gene editing, with promising data updates expected in early 2026 [6]. - Aurinia Pharmaceuticals (AUPH.US), target price $21: Core product Lupkynis shows steady growth, with new drug development paths expected to be announced in early 2026 [7]. - Kodiak Sciences (KOD.US), target price $39: Potential in retinal disease therapies, with three Phase III trial data readouts expected in 2026 [7]. - Intellia Therapeutics (NTLA.US), target price $45: A leader in gene editing, with key data expected in mid-2026 [8]. - Compass Therapeutics (CMPX.US), target price $8: Focused on tumor bispecific antibodies, with data expected in early 2026 [8]. - KalVista Pharmaceuticals (KALV.US), target price $38: Known for the first oral treatment for hereditary angioedema, with significant revenue growth expected in 2026 [9]. Five Potential Acquisition Targets - Jefferies identified five companies that may become acquisition targets in 2026 due to their unique assets or market positions: - Arrowhead Pharmaceuticals (ARWR.US): Strong RNAi product line for cardiovascular metabolism and new obesity targets [10]. - Celcuity (CELC.US): Drug gedatolisib shows unique efficacy in PIK3CA wild-type breast cancer [11]. - ORIC Pharmaceuticals: High-value prostate and lung cancer projects [12]. - Travere Therapeutics (TVTX.US): Potential market opening in rare kidney diseases if FSGS indication is approved [13]. - KalVista Pharmaceuticals: First-mover advantage and strong growth in oral HAE drugs [14].