H.C. Wainwright analyst Robert Burns reiterated a Buy rating on BioNTech SE today and set a price target of $136.00.
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Robert Burns has given his Buy rating due to a combination of factors, primarily driven by the recent success of BioNTech’s BNT323 in a Phase 3 trial for HER2+ metastatic breast cancer. The trial demonstrated a significant improvement in progression-free survival compared to T-DM1, marking a positive development for BioNTech’s oncology portfolio. This success enhances the prospects for the global Phase 3 DYNASTY-Breast02 trial and highlights BioNTech’s leadership in the oncology space.
Furthermore, upcoming catalysts such as the presentation of Phase 2 results for BNT327 and the initiation of a Phase 3 trial for BNT327 in 2025 are anticipated to bolster BioNTech’s position. While there are concerns regarding the COVID-19 vaccine market due to regulatory changes, the recent FDA approval of BioNTech’s adapted COVID-19 vaccine for specific age groups underscores the company’s robust pipeline. These factors collectively support the Buy rating and the 12-month price target of $136.
In another report released on September 5, BMO Capital also reiterated a Buy rating on the stock with a $143.00 price target.
Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BNTX in relation to earlier this year.