Mark Schoenebaum, a star biotechnology analyst and All-America Research Team Hall of Famer, has died. He was 46.
Schoenebaum, who worked as a biotech research analyst from 2000 until his retirement in 2017, was voted the No. 1 analyst in his sector for 12 years in a row in Institutional Investor’s annual ranking of Wall Street’s top analysts. In 2014 through 2016, he was also named the top analyst in the major pharmaceuticals sector.
Schonebaum got his start as a junior biotech analyst at CIBC, and held increasingly senior roles at Piper Jaffray, Bear Stearns, and Deutsche Bank before ultimately joining ISI Group, which was acquired by Evercore Partners in 2014.
“We are all incredibly saddened to learn of Mark’s passing,” Ed Hyman, the chairman of Evercore ISI, said in an emailed statement on August 26. “He was an exceptionally talented research analyst, a terrific colleague, and a great friend… He had a huge influence in many areas and on many people.”
Schoenebaum’s cause of death has not been reported. According to Bloomberg, he had taken two medical leaves from Evercore ISI in 2016 and 2017 before ultimately leaving the firm.
During his analyst career, Schoenebaum was praised by a fund manager for his “deep knowledge base from his accrued time as an analyst as well as perspective from his medical training.” (Prior to joining CIBC, Schoenebaum earned a medical degree at Johns Hopkins University.) Other investors described Schoenebaum as “one of the most thorough, knowledgeable, and reachable analysts” and “just an all-around classy guy who doesn’t take himself too seriously.”
“His humor and humility are the best, bar none,” one investment professional told II in 2014. “If there were more analysts like Mark, the stock market would be more efficient, and work would be more fun,” another said.
At Evercore ISI, Schoenebaum served as a senior managing director and head of healthcare research. He led a team including pharmaceuticals and biotech analyst Umer Raffat, who succeeded Shoenebuam as II’s No. 1 large-cap biotech analyst following his departure from Evercore ISI in 2017.
“Working with him is the only job I’ve had on Wall Street, and he’s taught me everything about it: how to think about the job, how to think about what the focus should be for analysis, prioritizing and managing time — everything,” Raffat told II in 2017.
In addition to his work as a research analyst, Schoenebaum served on the boards of companies including biopharmaceutical firm TG Therapeutics and blank-check company Health Sciences Acquisitions Corp.
“Mark has been a key member of our team who always provided incredible insight and guidance,” Michael Weiss, chief executive officer and executive chairman of TG Therapeutics, said in an August 26 statement. “His presence will be sorely missed as a great person, a talented board member and a dear friend. We offer our deepest condolences to his family in this difficult time.”
