Cantor analysts call for RFK Jr. replacement following ousting of Marks at FDA
Seeking Alpha News (Tue, 01-Apr 1:03 AM)
In a highly unusual move, two seasoned sell-side biotech analysts at Cantor Fitzgerald are calling for the Trump administration to replace HHS Secretary Robert F. Kennedy, Jr., following the resignation of one of the U.S. FDA's top officials, Peter Marks.
In a note released Monday, Josh Schimmer and Eric Schmidt said that the ousting of Marks as director of the FDA's Center for Biologics Evaluation and Research -- which oversees vaccine approvals -- was a step too far for them.
"RFK Jr. is undermining the trusted leadership of healthcare in this country,” the note reads. "HHS cannot be led by an anti-vax, conspiracy theorist with inadequate training."
The duo asked the administration "to re-evaluate RFK Jr.’s role at HHS."
"He is steering this country into dangerous territory based on his own whims and invalidated beliefs," they added. "While some had hoped he would stay focused on food and fitness, he's ventured far outside of his swim lane. It's time to take him out of the pool."
Cantor Fitzgerald was formerly headed by Howard Lutnick, who left the firm to become Commerce Secretary under Trump. One of his sons took over the elder Lutnick's position as chairman.
On Monday, many pharma and biotech stocks closed in the red amid the fallout from Marks' impending departure from the FDA. Among the worst hit were vaccine-focused names, such as Moderna (NASDAQ:MRNA), and those in the gene editing space, such as CRISPR Therapeutics (NASDAQ:CRSP), Beam Therapeutics (NASDAQ:BEAM), 4D Molecular Therapeutics (NASDAQ:FDMT), Intellia Therapeutics (NASDAQ:NTLA), and Prime Medicine (NASDAQ:PRME).
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