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Here are 4 top biotech stock ideas from Jefferies

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Jefferies' research team shared its favorite biotech stock picks that it expects will benefit from upcoming news events.

"Inside this report we have selected ... notable stock catalysts over the next 6 to 12 months within the Jefferies Biotech universe," wrote analyst Michael Yee in Sunday's note. The firm focuses on "near-term events into year-end where we think risk/reward is positive and would recommend owning."

Jefferies said that the industry's ever-improving backdrop coupled with outperformance and positive data in the last few months should make these stocks appealing to investors.

Here are four companies that made Jefferies' recommended list and their price targets.