Promising Efficacy and Safety of BioNTech’s BNT324 Supports Buy Rating

John Newman, an analyst from Canaccord Genuity, maintained the Buy rating on BioNTech SE (BNTX – Research Report). The associated price target remains the same with $171.00.

John Newman’s rating is based on the promising data from BioNTech’s BNT324, which has shown strong efficacy and manageable safety in heavily pretreated metastatic castration-resistant prostate cancer (mCRPC) patients. The drug demonstrated a confirmed objective response rate of 42.3% and a 9-month radiographic progression-free survival rate of 58%, with consistent results across different dosage groups.
Moreover, the efficacy of BNT324 is particularly notable in earlier lines of treatment and in patients with challenging conditions such as liver metastases. This is significant as BioNTech plans to explore BNT324 in combination with BNT327, potentially enhancing its therapeutic impact. The safety profile is also favorable, especially at the 6 mg/kg dosage, with a lower incidence of severe treatment-related adverse events and a minimal discontinuation rate. These factors collectively support the Buy rating and a price target of $171.

In another report released on May 27, Morgan Stanley also maintained a Buy rating on the stock with a $132.00 price target.

Based on the recent corporate insider activity of 32 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.