Investment Analyst: Biotechnology Sector

T. Rowe Price•Baltimore, MD

1d•Hybrid

About The Position

T. Rowe Price is seeking an exceptional investor to join its global equity research platform as an Investment Analyst covering the Biotechnology sector. The analyst will conduct fundamental research to identify important sector trends and well-positioned companies, develop and communicate investment recommendations, and contribute directly to portfolio performance. The role also provides thought leadership on healthcare trends and mentorship to more junior members of the healthcare investment team. The position calls for an intellectually curious, highly driven investor with strong fundamental research skills, independent judgment, and the conviction to form differentiated investment views. It offers significant responsibility, direct engagement with senior portfolio managers, and influence on global portfolio outcomes. The successful candidate will work collaboratively in a high-performance environment and use AI and other technology to enhance research and investment decisions. The role is based in Baltimore and is eligible for hybrid work, with up to one day per week from home.

Requirements

MD, PhD, or another advanced life-science degree.
At least 3–4 years of investment experience in the Biotechnology sector.
Demonstrated academic excellence and a passion for investing.
Maturity and sound judgment, including the ability to inspire confidence in high-pressure or stressful situations.
A competitive nature, an investment mindset, and a deep interest in equity markets.
Strong quantitative analysis capabilities.
Exceptional communication skills and the ability to deliver high-quality, technically rigorous written research.
Baltimore relocation.

Nice To Haves

Previous experience covering Biotechnology stocks.
Understanding of drug development, clinical trial phases, FDA/EMA regulatory approval pathways, pricing, and reimbursement.
Ability to incorporate regulatory risk, policy changes, and ESG considerations into investment theses.
Experience using AI-enabled research tools to enhance equity analysis and investment decision-making while applying rigorous judgment to validate insights.

Responsibilities

Develop differentiated investment views and identify attractive investment opportunities across the Biotechnology industry.
Build and maintain detailed financial models, industry frameworks, and company analyses.
Form independent conclusions about business quality, management effectiveness, competitive positioning, valuation, and long-term earnings power.
Generate actionable investment recommendations supported by rigorous analysis and clear reasoning.
Conduct primary research through meetings with company management teams, competitors, suppliers, customers, industry experts, and other industry participants.
Analyze financial statements, industry data, market trends, and alternative information sources.
Conduct field research, including company visits, industry conferences, and channel checks where appropriate.
Develop a deep understanding of industry value chains, competitive dynamics, technological change, and long-term trends affecting healthcare and biotechnology companies.
Present investment recommendations to portfolio managers and other investment professionals, explaining investment theses, catalysts, downside risks, valuation frameworks, and expected risk/reward.
Engage in investment debate, challenge consensus thinking when warranted, and contribute to intellectual honesty and continuous improvement.
Monitor portfolio holdings and recommendations and provide updates as facts and circumstances evolve.
Use AI-powered research, data analysis, and workflow tools to increase research depth, efficiency, and insight generation.
Incorporate emerging technologies, alternative data sources, and advanced analytical techniques into the investment process.
Develop repeatable AI-enabled workflows for information synthesis, company analysis, modeling, and idea generation; evaluate and adopt technologies that can improve research quality.
Provide thought leadership on healthcare trends and mentor more junior members of the healthcare investment team.

Benefits

Competitive compensation and annual bonus eligibility.
Generous retirement plan.
Hybrid work schedule.
Health and wellness benefits, including online therapy.
Paid time off for vacation, illness, medical appointments, and volunteering.
Family care resources, including fertility and adoption benefits.
Employee stock purchase plan with matching contributions.
Medical, dental, and vision benefits.
Tuition assistance.
Wellness programs, including fitness reimbursement and an Employee Assistance Program.