UBS really loves Telix. It's down ~15% from the peak and they...

UBS really loves Telix. It's down ~15% from the peak and they are already out there selling it like it's halved.

Well, UBS's rationale appears to be applicable to Neuren too in my view

UBS analysts believe a key resignation in the FDA’s top ranks and subsequent movements during Wednesday trade in Australian biopharma stocks represent a buying opportunity.UBS analysts Laura Sutcliffe, Eds Lamdagan and Jay Stubbs wrote in a note to investors that after Center for Biologics Evaluation and Research — part of the US Food and Drug Authority — director Peter Marks’ resignation late last week Wall Street’s pharma indexes have traded mid-to-high single digits lower with sentiment growing drug approvals would be slowed due to Mr Marks’ resignation.The analysts, after speaking to pharma experts, are of the opinion no such approval bottlenecking will happen, and thus see the sell-off as a buying opportunity for Aussie stocks, particularly Telix (ASX:TLX) which has dipped approximately 8.5 per cent lower since Mr Marks resigned.“We remain high-conviction buyers of Telix,” the note reads. “The shares are trading down … despite incrementally positive news … All else equal, this sort of share price response indicates strong propensity to move with sentiment on US biotech rather than Australian biotech where the tape currently looks mixed for the day. We view this as a buying opportunity given Telix is profitable and has a string of catalysts in the coming months, most of which we think constitute upside risk.”