Analyst John Newman from Canaccord Genuity maintained a Buy rating on BioNTech SE (BNTX – Research Report) and keeping the price target at $171.00.
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John Newman’s rating is based on BioNTech’s strategic acquisition of CureVac, which is expected to enhance its mRNA platform significantly. This acquisition is seen as a positive move because it not only boosts BioNTech’s research and development capabilities but also expands its manufacturing capacity, thanks to CureVac’s universal mRNA production process.
Moreover, the acquisition is anticipated to resolve ongoing litigation issues between the two companies, which had previously involved patent disputes. By integrating CureVac’s assets and technology, BioNTech is positioned to strengthen its market presence in mRNA vaccines, leading to a reaffirmation of the Buy rating with a price target of $171.
Newman covers the Healthcare sector, focusing on stocks such as BioNTech SE, Allogene Therapeutics, and Regeneron. According to TipRanks, Newman has an average return of -4.5% and a 35.54% success rate on recommended stocks.
In another report released today, Deutsche Bank also maintained a Buy rating on the stock with a $140.00 price target.