Insights from Oppenheimer's radiopharmaceutical summit. Oppenheimer & Co. Inc. October 01, 2026 This year, Oppenheimer's 4th Annual Targeted Radiopharmaceutical Therapies Summit, sponsored by Mintz and RSM, convened more than 200 senior biotechnology executives, institutional investors, and key stakeholders from across the radiopharmaceutical therapy ecosystem at Lotte New York Palace in New York City. Hosted and moderated by Oppenheimer Managing Director and Senior Analyst, Jeff Jones, PhD, the summit featured in-depth discussions with industry leaders from over a dozen companies, including AstraZeneca, Novartis, RayzeBio/Bristol Myers Squibb, Aktis Oncology, Perspective Therapeutics, and AdvanCell. Conversations focused on the scientific, clinical, logistical, and commercial factors shaping the next phase of growth in radiopharmaceutical therapies, including product optimization, asset quality, target and isotope selection, and clinical development strategy. The breadth and depth of dialogue reflected the sector's continued maturation, with an estimated 30 clinical-stage companies and ~90 candidates in clinical development, while the only two marketed products today generated ~$3B in 2025 revenue. Companies are increasingly concentrating on differentiated assets, broadening the scope of the opportunity, refining product profiles, and maximizing long-term value creation. This year's inclusion of pharmaceutical industry leaders further underscored the growing strategic importance of radiopharmaceutical therapies within the broader biopharmaceutical landscape. Panelists offered valuable perspectives on partnership activity, business development priorities, and the increasingly important role of radiopharmaceuticals in long-term portfolio strategies. As interest in the sector continues to accelerate, the summit served as an important forum for exchanging ideas, sharing perspectives, and exploring the developments shaping the future of radiopharmaceutical therapies. Oppenheimer remains committed to convening industry leaders and delivering differentiated insights on emerging areas of innovation across healthcare and life sciences. Oppenheimer Holdings, Inc. thank its speakers, panelists, attendees, and partners for contributing to another successful summit and look forward to continuing the conversation as the radiopharmaceutical therapy landscape evolves.

Oppenheimer has identified two stocks with significant upside potential: FuelCell Energy and Innoviva. The investment bank sees gains of up to 66% over the next 12 months. FuelCell Energy, which develops modular fuel-cell systems for commercial and industrial customers, received an Outperform rating with a $24 price target, implying 42% upside from $16.90. Analyst Colin Rusch believes the company's technology positions it to benefit from growing data-centre electricity demand. FuelCell announced an agreement with Fit Energy in June involving up to 380 megawatts of capacity. Innoviva, which combines respiratory drug royalties with critical-care and infectious-disease treatments, was given a $35 price target, suggesting 66% upside from $21.11. Analyst Les Sulewski notes the company's specialty therapeutics business delivered 26% year-over-year growth in US product sales to $36.6 million during the second quarter.

Oppenheimer analysts say AI in software has moved beyond experimentation, with companies now required to demonstrate measurable returns on investment. AI is becoming a recurring operating expense, with chief financial officers evaluating investments alongside labour costs. The firm says system-of-record vendors and businesses with seat-plus-consumption pricing models are best positioned to benefit. These models offer protection against disruption and the clearest path to AI-driven growth. Oppenheimer's top picks include Microsoft Corporation, citing accelerating platform demand and over $1 billion in AI-related revenue. ServiceNow is highlighted for its exposure to automation and security tailwinds, also exceeding $1 billion in AI revenue. Braze is noted as a system-of-record for customer engagement with durable competitive advantages.