Analyst Tazeen Ahmad of Bank of America Securities maintained a Buy rating on BioNTech SE, retaining the price target of $134.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Tazeen Ahmad has given his Buy rating due to a combination of factors including promising early data from BioNTech’s BNT327 in treating extensive stage small cell lung cancer. The interim phase 2 results showed a confirmed objective response rate of 76.3% and a median progression-free survival of 6.8 months, which are encouraging indicators of the drug’s potential efficacy. Despite some variability in response rates due to small sample sizes, the data supports further development and validation in a global cohort.
Additionally, the ongoing phase 3 trial, which involves a larger patient population, is expected to provide more robust data. The trial aims to compare BNT327 combined with chemotherapy against the current standard of care, with key opinion leaders optimistic about its potential. Furthermore, BioNTech’s strategic focus on broader applications and safety management in post-immuno-oncology settings, along with upcoming data releases for other pipeline assets, contributes to the positive outlook and justifies the Buy rating.
According to TipRanks, Ahmad is an analyst with an average return of -0.9% and a 52.16% success rate. Ahmad covers the Healthcare sector, focusing on stocks such as Argenx Se, Ascendis Pharma, and Sarepta Therapeutics.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $136.00 price target.