Peter Welford & team
Jefferies International
The Jefferies International trio steered by London-based Peter Welford returns to No. 3 after a year in the runner-up spot. “Peter offers an intellectual rigor to biotechnology research that successfully marries the science with the commercial opportunity — a feat few manage to achieve,” observes one U.K.-based hedge fund manager. The analysts are bullish on four small-cap companies poised to launch products later this year: Belgium-based ThromboGenics, Denmark’s Zealand Pharma, Medivir of Sweden and Norway’s Algeta. “The upcoming year promises to be the most dynamic period I can remember for significant new products from European biotech,” Welford says. “This should increase investor appetite to own the stocks — and, perhaps optimistically, the sector overall.” Another recommendation: Ireland’s Shire, a midcap manufacturer of treatments for attention deficit and hyperactivity disorder. The team upgraded the stock from hold to buy in September, at 1,805p, citing limited risk and high growth prospects. By late December the stock had risen 4.5 percent, to 1,887p, and led the sector by 5.6 percentage points.
— Leslie Kramer