Bristol-Myers Squibb’s Strategic Partnership with BioNTech: A Promising Future for BNT327 in Immunology Therapy

Leerink Partners analyst Daina Graybosch maintained a Buy rating on Bristol-Myers Squibb (BMY – Research Report) on June 2 and set a price target of $115.00.

Daina Graybosch’s rating is based on Bristol-Myers Squibb’s strategic co-development and co-commercialization agreement with BioNTech on a promising bispecific antibody, BNT327. This agreement positions Bristol-Myers Squibb to potentially advance a next-generation immunology therapy that could surpass current treatments like Opdivo and Keytruda. Despite the crowded development space for PD-L1 and PD-1 VEGF bispecifics, the financial terms of the deal and the promising early data from BNT327 trials suggest significant potential for future success.
Additionally, the ongoing Phase 3 studies in non-small cell lung cancer (NSCLC) and extensive-stage small cell lung cancer (ES-SCLC) are expected to provide crucial data in the coming years, with potential initial approval by 2028. The promising early results, particularly in SCLC, and the structured milestone payments reinforce the potential for substantial revenue growth, justifying the Buy rating on Bristol-Myers Squibb’s stock.

In another report released on June 3, Piper Sandler also reiterated a Buy rating on the stock with a $66.00 price target.

BMY’s price has also changed moderately for the past six months – from $59.940 to $48.790, which is a -18.60% drop .