In a report released today, Robert Burns from H.C. Wainwright reiterated a Buy rating on BioNTech SE (BNTX – Research Report), with a price target of $138.00.
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Robert Burns has given his Buy rating due to a combination of factors including BioNTech SE’s recent achievement of receiving Orphan Drug Designation for BNT327, a promising candidate for small cell lung cancer treatment. This designation not only highlights the potential of the drug but also provides a significant advantage in terms of market exclusivity for seven years post-approval, which can be a substantial driver of future revenue.
Furthermore, the valuation approach employed by Burns, using a discounted cash flow model with an 8% discount rate and a 2.0% terminal growth rate, supports a firm value of $35.1 billion. This translates to a price target of $138 per share, reinforcing the Buy recommendation. Despite acknowledging risks such as potential negative data outcomes and regulatory challenges, the overall outlook remains positive, justifying the Buy rating.
According to TipRanks, Burns is an analyst with an average return of -15.3% and a 31.81% success rate. Burns covers the Healthcare sector, focusing on stocks such as BioNTech SE, Bicara Therapeutics Inc., and Exelixis.
In another report released on June 23, Morgan Stanley also maintained a Buy rating on the stock with a $132.00 price target.