Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4
Notice: Undefined index: HTTP_ACCEPT_LANGUAGE in /home/stockstowatch/public_html/wp-content/mu-plugins/GrULw0.php on line 4 BioNTech Stock Gets Upgrade, Analyst Sees Multiple Upside Opportunities – BioNTech (NASDAQ:BNTX) – Stocks to Watch
BofA Securities has upgraded BioNTech SEBNTX and maintains a $239 price target.
The analyst views the current valuation as an attractive entry opportunity citing several near-term opportunities, including an expanded opportunity for the COVID vaccine and de-risking of the growing oncology pipeline.
Recent update on Moderna IncMRNA / Merck & Co IncMRK on personalized cancer vaccine for melanoma might provide POC validation ahead of BNT122’s readout in combo with Keytruda in 1L advanced melanoma in 1H23.
The analyst writes that the mRNA-based flu/COVID combo vaccine represents an attractive opportunity, with positive data probably next year could represent additional upside.
Amid lower demand for vaccines, BofA lowered its COVID revenues to BNTX to €8 billion in 2023 (down from €17 billion in ’22) and assumed a more conservative stance near term).
The oncology pipeline represents the next leg of growth for the company, and the analyst sees potential for an upside as these programs mature. iNeST and FixVac currently contribute $33/share to BofA valuation.
Price Action: BNTX shares are down 2.93% at $180.59 on the last check Thursday.
Notice: Function WP_Object_Cache::add was called incorrectly. Cache key must not be an empty string. Please see Debugging in WordPress for more information. (This message was added in version 6.1.0.) in /home/stockstowatch/public_html/wp-includes/functions.php on line 5835
