Boston-based healthcare investment bank, Leerink Partners, recently announced the hiring of Mani Foroohar, MD to its research team as Managing Director and Senior Research Analyst covering Therapeutics stocks. Dr. Foroor joined Leerink from Citadel’s stock-picking unit, Aptigon Capital.
Another New Therapeutics Analyst
Dr. Mani Foroohar joins Leerink Partners following a six year career as an analyst on the sell-side, buy-side, as well a few years working in the medical devices industry. Prior to joining Leerink, Andrew worked as a biotech analyst at Aptigon Capital and a healthcare analyst at Green Owl Capital Management. Previously, Dr. Foroohar was an Assistant Vice President of Equity Research and analyst covering biotechnology, pharmaceuticals, and life science tools and diagnostics companies at Barclays. Before starting his career as an equity analyst, Foroohar co-founded Cellanyx Diagnostocs developing nanomedical devices with predictive computational suites for life sciences tools and clinical diagnostics applications.
Mani Foroohar received his BS in Economics and Psychobiology from UCLA and his MD in the Molecular Basis of Medicine and Clinical Research at Stanford University Medical School. Mr. Foroohar earned an MBA degree from Columbia Business School.
John L. Sullivan, CFA and Director of Equity Research at Leerink explained this addition, “I’m delighted that Mani is joining us at Leerink to cover the growing number of companies developing breakthrough technologies addressing the genetic basis of human disease. These companies are among the most exciting, volatile and complex in the industry, and Mani’s combined medical training and buy side experience should make him very effective resource for Leerink’s buyside clients.”
Leerink now employs 12 senior healthcare analysts and covers more than 240 stocks in the biotech, major and specialty pharmaceuticals, life science tools & diagnostics, medical supplies & devices, healthcare services, and digital health sectors.
The addition of Mani Faroohar is the second senior Therapeutics analyst that Leerink has added to its research team in the past month (Leerink hired II-Ranked analyst Andrew Berens, MD last month). The addition of Forrohar and Berens in the past 30 days shows that Leerink is getting more aggressive in expanding its research staff following a relatively passive approach over the past few years.
We suspect that Leerink’s position as a boutique sector specialist should fare well in a post-MiFID II world, as asset managers will have to explicitly pay for external research in an unbundled fashion. The key question is when will US asset managers adopt the unbundled approach that European managers are being forced to move to due to MiFID II? While global fund managers are already making this transition, domestically oriented funds are likely to move to such a model more slowly.