Pharmaceutical and biotech stocks may find it tough to outperform the market in the months ahead. Nonspecialist investors have shifted their focus to other sectors, such as tech, following the outcome of the election and uncertainty about what it will mean for the industry, they said. “We believe President-elect Trump will be capable of enacting significant change, and the unpredictability is expected to cast a shadow over the space,” analysts led by Trung Huynh said in their 2025 outlook on the sector.