Equity Research - SMid Cap Biotech - Associate

Location: New York, NY, United States

Job Family: Associates

About the Role

JPMorgan Chase & Co. is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. We operate in more than 60 countries, creating groundbreaking ideas and connections that drive the global economy forward. In our Equity Research division, we deliver top-tier insights to institutional clients, helping them navigate complex markets with confidence. As an Associate in Equity Research focusing on SMID Cap Biotech, you will join a prestigious team renowned for its deep industry expertise and actionable recommendations in the dynamic life sciences sector. Based in our New York office, this role offers the opportunity to contribute to high-impact research that influences investment decisions across biotech innovators with market caps between $300 million and $10 billion. In this position, you will play a key role in analyzing SMID Cap Biotech companies, building sophisticated financial models to evaluate drug candidates, clinical trial outcomes, and commercialization potential. You will collaborate closely with senior analysts to produce insightful reports, attend key industry events, and interact with management teams to uncover undervalued opportunities and emerging risks. Leveraging JPMorgan's unparalleled resources, including proprietary data platforms and a global network of experts, you will support sales and trading desks by providing timely, evidence-based recommendations that drive client alpha. This role demands a blend of financial acumen and scientific curiosity, as you track regulatory milestones, M&A activity, and therapeutic advancements in areas like gene therapy and precision medicine. We seek driven professionals passionate about the intersection of finance and biotechnology, offering a platform for career growth within one of the world's most respected research teams. At JPMorgan Chase, you will benefit from mentorship, cutting-edge tools, and exposure to high-profile deals, positioning you for advancement in equity research or related fields. Join us to shape the future of biotech investing and contribute to our mission of powering possibilities in global markets.

Key Responsibilities

• Conduct in-depth fundamental analysis of SMID Cap Biotech companies, including financial modeling and valuation
• Build and maintain detailed financial models to forecast earnings, cash flows, and stock performance
• Prepare high-quality equity research reports, initiations, updates, and event-driven analyses for institutional clients
• Engage with company management teams, attend industry conferences, and perform due diligence on biotech pipelines
• Collaborate with sales, trading, and investment banking teams to provide actionable insights and support client needs
• Monitor regulatory developments, clinical trial outcomes, and sector news to identify investment opportunities and risks
• Contribute to the production of sector-themed research pieces and participate in team brainstorming sessions
• Support senior analysts in client meetings, roadshows, and marketing efforts for JP Morgan's research platform
• Ensure compliance with regulatory standards and internal policies in all research activities
• Leverage JP Morgan's proprietary tools and data resources to enhance research accuracy and efficiency

Required Qualifications

• Bachelor's degree in Finance, Economics, Biology, Biotechnology, or a related field; MBA or advanced degree preferred
• 3-5 years of experience in equity research, investment banking, or biotech/pharmaceutical industry analysis
• Strong understanding of SMID Cap Biotech sector fundamentals, including drug development pipelines, clinical trials, and regulatory environments
• Proficiency in financial modeling, valuation techniques, and equity analysis specific to life sciences
• Excellent written and verbal communication skills for producing research reports and presenting to clients
• Ability to work in a fast-paced, high-pressure environment with tight deadlines
• Series 7 and 86/87 licenses or willingness to obtain them

Preferred Qualifications

• Experience covering SMID Cap Biotech stocks at a bulge-bracket firm or sell-side research department
• Advanced knowledge of FDA regulations, biotech M&A trends, and therapeutic areas like oncology or rare diseases
• Prior internship or role at JP Morgan Chase or similar financial institution
• CFA charterholder or progress toward designation
• Fluency in data analytics tools for biotech market research

Required Skills

• Financial modeling and valuation (DCF, comps, precedent transactions)
• Biotech sector knowledge (drug pipelines, clinical trials, FDA approvals)
• Equity research report writing and editing
• Data analysis using Excel, Bloomberg, FactSet, or Capital IQ
• Strong analytical and quantitative skills
• Attention to detail and accuracy in financial projections
• Effective communication and presentation abilities
• Time management in deadline-driven environments
• Team collaboration and interpersonal skills
• Regulatory compliance awareness (SEC, FINRA)
• Critical thinking for identifying investment risks and opportunities
• Adaptability to fast-changing market and scientific developments
• Proficiency in Microsoft Office Suite and research databases
• Problem-solving in complex biotech scenarios
• Networking with industry professionals and stakeholders

Benefits

• Competitive base salary and performance-based bonus structure aligned with financial services industry standards
• Comprehensive health, dental, and vision insurance plans with employer contributions
• 401(k) retirement savings plan with generous company matching
• Paid time off, including vacation, sick days, and parental leave
• Professional development opportunities, such as tuition reimbursement for advanced degrees or certifications
• Access to JP Morgan's global wellness programs, including mental health support and fitness reimbursements
• Employee stock purchase plan and other financial perks
• Relocation assistance for moves to New York, NY

JP Morgan Chase is an equal opportunity employer.