Equity Research Associate – Emerging Immunology

Job Title: Equity Research Associate – Emerging Immunology

Reports to: Sr. Equity Research Analyst

Department: Equity Research

Location: New York or Boston

Salary Range: $110,000-$150,000

This individual will work closely with senior equity research professionals to develop expertise in emerging immunology, covering companies developing novel therapies in autoimmune disease, inflammation, and related areas. The associate role spans fundamental analysis, scientific diligence, and client-facing research, offering a unique position at the intersection of science and finance. The ideal candidate will possess a strong sense of intellectual curiosity and independent thought, passion for investing as well as the ability to thrive in a fast-moving, deadline driven environment.

• Formulate in-depth investment recommendations based on fundamental analysis, valuation and risk assessment across the emerging immunology landscape
• Collect and rigorously analyze data related to therapeutics and various diseases, including scientific papers, clinical data, and KOL perspectives
• Design and execute primary market research, including market surveys and expert interviews, synthesizing findings into differentiated investment insights
• Build, maintain, and refine financial models, including DCFs, probability adjusted revenue forecasts, and scenario analyses
• Author research reports, initiation notes, and company updates for distribution to Leerink Partners’ institutional clients and sales force
• Engage directly with institutional clients and internal stakeholders to communicate investment views and respond to market-driven inquiries
• Monitor news, data releases, and regulatory updates across the coverage universe, providing timely commentary to clients and the sales force
• Support senior equity analysts at medical and industry conferences

• Academic background strongly preferred: MD, PhD, or PharmD
• Direct exposure to immunology, inflammation, autoimmune disease, or related therapeutic areas is a strong plus
• Excellent written and verbal communication skills
• Ability to search, understand and distill complex scientific and medical publications into succinct and actionable insights for biotech investors
• Familiarity with the biotechnology and pharmaceutical industries including clinical development, regulatory affairs, business development and commercialization
• Strong quantitative, financial modeling, forecasting and Excel skills
• Comfort interpreting clinical trial statistics, including statistical powering, trial design strategies (e.g., ITT versus PP), and hazard ratios

Leerink Partners is an equal opportunity employer and is dedicated to expanding its commitments and investments to create a more diverse, equitable and inclusive company culture and innovative ecosystem. We are strongly committed to the values and policy of equal employment opportunity across our employment practices.

Actual starting base pay will be determined on skills, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, benefits, and/or other perks, as outlined in any formal offer made.