Analyst Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Nanobiotix and increased the price target to €32.00 from €23.00.
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Swayampakula Ramakanth has given his Buy rating due to a combination of factors related to Nanobiotix’s lead asset JNJ-1900 and its performance in the CONVERGE trial. Early Phase 2 data in inoperable stage 3 lung cancer showed strong tumor responses and complete disease control in a small cohort, notably exceeding historical outcomes with standard radiotherapy alone and demonstrating activity even in patients with low or absent PD-L1 expression.
Moreover, the treatment was well tolerated, with no severe safety signals and uninterrupted completion of chemoradiation, reinforcing confidence in its risk‑benefit profile. On the back of these results, Ramakanth increased projected future revenues for JNJ-1900, which led to a higher risk‑adjusted net present value and a raised 12‑month price target of €32 per share, while acknowledging typical clinical, commercial, financial, partnership, and IP risks that could impact realization of this valuation.