Q&A With William Blair’s Myles Minter, Named a TipRanks Top 10 Analyst of 2025

William Blair’s Myles Minter, Ph.D., partner, and research analyst covering biotechnology companies, was recently recognized by TipRanks as the No. 4-ranked analyst in the U.S.

TipRanks, an organization that monitors and evaluates analysts according to how accurate and successful their recommendations are, puts together a yearly list of the top 10 analysts. The most recent list highlights those who excelled in 2025, showcasing their skill in delivering returns through their guidance.

Building on this recognition, Myles shares insights below about biotech’s pivotal moment, the defining themes of the past year, and the disciplined strategy that earned him top honors. His reflections offer a deeper look at how his approach not only guided investors through a challenging landscape but also contributed to his standout performance and acclaim among industry peers.

You cover a specialized segment of biotechnology. How would you describe your focus?

I cover a mix of commercial-stage biotechnology companies, meaning they've gone through the clinical pathway, and now market approved therapies for a range of conditions, from major depressive disorder to Alzheimer’s disease to rare genetic disorders. The companies are generally in the early stages of their commercial journey, but they all primarily focus on addressing diseases with no approved therapies or areas of high unmet needs.

What differentiated your sector in 2025? How do you think your approach contributed to your recognition with TipRanks?

The biotech sector had materially underperformed the S&P 500 for the last four-plus years, so the resilience and resurgence over the past 12 months really stood out. A major shift came from greater clarity around drug pricing and access; significant political pressure on pricing created an overhang for investors. As that clarity improved, interest rates peaked and stabilized, making the sector more investable. We’re a cash-burning industry, so the cost of capital matters.

Biotech is an innovative sector—we’re here to solve healthcare problems. When macro pressures ease, investors want to participate in that innovation. My approach has been to stay focused on that core principle: markets reward innovation when it works. Even though biotech can be risky, if you can identify companies solving real, unmet needs with differentiated science, there’s often a competitive moat with long-term opportunity.

Truly novel science, paired with proven leadership and access to capital, is what translates innovation into sustainable value.

MYLES MINTER, Ph.D., Partner, Research Analyst

What were the most important themes for investors that navigated the biotech sector successfully in 2025? Were there any specific emerging subsectors or therapeutic areas that surprised you?

Differentiated innovations were the standout theme of 2025, particularly in rare disease and neuroscience. ATTR-CM, a rare, progressive, and underdiagnosed form of restrictive heart failure, was an impacted area. Two new therapies were launched in the last two years, including one that removes the underlying amyloid protein altogether. For patients, that means a roughly 30% reduction in deaths, most of which would occur from heart attacks. For investors, this highlighted how genetic medicines can redefine standards of care, creating significant commercial opportunities. Favorable regulatory pathways and incentives have also accelerated rare disease innovation, particularly among nimble small- and mid-cap companies.

In neuroscience, schizophrenia research saw another breakthrough. After decades of limited advancement, a groundbreaking therapy was approved in September 2024. Now completing its first full year of availability for patients, the novel mechanism and improved tolerability have brought meaningful change to a large, historically underserved patient population.

Across both areas, the commonality was clear: differentiated science addressing unmet needs was the defining driver of performance.

In your work, what metrics or signals prove most helpful in identifying biotech companies with long-term value?

I like to think of it from a portfolio standpoint, combining commercial-stage leaders with earlier-stage innovators to manage inherent risk. The most important signals are strong clinical data, an experienced management team, and precise, unmet needs that the company is uniquely positioned to address. For earlier-stage companies, data that truly de-risks development and increases the probability of success is critical. Above all, differentiation and results matter. Truly novel science, paired with proven leadership and access to capital, is what translates innovation into sustainable value.

What feels different about the biotech landscape today compared to this time last year?

There are massive differences. Today’s sentiment is practically the opposite of where it was a year ago. Now, it’s much more optimistic, as key macro pressures, particularly around pricing, have been largely addressed for the time being. Capital markets are functioning again. IPOs, which had dried up, have resumed, and follow-on funding is healthier, helping companies reach their next inflection points. M&A activity is still building, but the broader ecosystem feels more fluid. After four-and-a-half years of underperformance, biotech is entering 2026 with healthier markets, though it remains very much a stock picker’s environment where careful, disciplined work is critical.