Equity Research Analyst or Associate – Biopharma Equity Research

Job Description

Analyst/Associate – Equity Research, US Biopharma (Large-Cap & Mid-Cap) | Bank of America

The Tone:
This is a full-time, hybrid role at Bank of America, located in the United States, requiring 4 days per week in the office. Bank of America is a leading global financial institution, providing a full range of banking, investing, asset management, and other financial and risk management products and services to individuals, small businesses, institutions, and corporations globally. This critical position offers direct exposure to a top-three ranked Institutional Investor analyst, contributing to expanding coverage across large-cap pharma. The role is essential for delivering in-depth fundamental research, sophisticated financial modeling, policy analysis, and industry-related litigation insights to inform investment recommendations within the dynamic US biopharma sector. Candidates should possess intellectual curiosity and a deep desire to learn.

The TL;DR
• Role: Early Career
• Type: Full-time
• Location: Hybrid, US

• Team: Equity Research team, reporting to a Senior Analyst and Associates
• Mission: Conduct comprehensive equity research for US Biopharma companies, spanning large-cap and mid-cap segments, to generate actionable insights and inform investment recommendations for institutional clients.
• Tech Stack:

What You’ll Actually Do
• Research Reporting: Generate comprehensive industry and company research reports, including timely coverage of earnings results, forward-looking thematic analyses, and event-driven updates impacting the biopharma sector.
• Financial Modeling: Develop and rigorously maintain intricate financial models for covered companies, alongside constructing and updating drug category market models to project industry trends.
• Strategic Analysis: Conduct detailed analysis of industry macro trends and company financial results, while proactively monitoring news flow and flagging stock-impacting developments, especially when the Senior Analyst is traveling.
• Industry Networking: Cultivate and maintain strong relationships with key contacts at covered companies, facilitating crucial information flow and actively seeking out new, value-added, or unusual sources of information for research.
• Client Engagement: Articulate the team’s investment recommendations and research findings clearly and concisely to internal sales and trading teams, as well as to institutional investor clients.

The Must-Haves
• Background: Bachelor’s Degree or equivalent years of experience; an academic background rooted in a life science field is essential, coupled with an understanding of economics, macroeconomic factors, and policy.
• Experience: Ideal candidates will possess 1-4 years of experience acquired in biopharma equity research, buy side roles, or investment banking. Specific experience with financial modeling gained in sell-side research, life science consulting, or healthcare investment banking is also required.
• Skills: Strong writing and financial modeling skills are paramount. Candidates must also demonstrate excellent written and verbal communication skills, strong attention to detail, the ability to manage multiple priorities effectively, and contribute proactively within a highly collaborative, team-oriented environment. A demonstrated interest in public equity markets and fundamental research is also key.
• Bonus: An advanced degree in a life science discipline or relevant industry experience is considered a valuable asset.