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By Lauren R. Rublin
PHOTOGRAPHYBYGUERINBLASK
OF BIOTECH
THE FUTURE
Ourroundtableexpertshavehighhopes
forscienceandbiotechnologystocks.Howto
play the coming health-care revolution.
Recent advances in biotechnology, from data-driven diagnostics to game-
changing gene therapies, suggest we’re on the cusp of a golden age in which many
feared diseases will become treatable, or even cured. Yet for all the optimism in
the lab, pessimism reigns on Wall Street, where investors lately have been yank-
ing money from health-care and biotech stocks and funds. Given a 25% slide in
the Nasdaq Biotechnology Index from its mid-2015 peak, the disconnect between
a looming scientific revolution and investors’ disillusion has grown too big to ig-
nore. • The five members of Barron’s first biotech roundtablezeroed in on this
paradox when they met with us recently in New York, and they didn’t stop there.
Biology, treatment modalities, regulatory matters, companies, and stocks—all came
under the microscope of this discerning group of analysts and investors, who shared
what excites them about the coming disruptions in health care—and how to invest