H.C. Wainwright raised the firm’s price target on BioNTech (BNTX) to $145 from $134 and keeps a Buy rating on the shares. The firm says the advantages of the company’s strategic partnership with Bristol Myers (BMY) for BNT327 are reminiscent of those with Pfizer (PFE) for Comirnaty. Per the agreement, the companies will jointly develop and commercialize BNT327, including the development of BNT327 as a monotherapy and in combination with other products, the analyst tells investors in a research note. H.C. Wainwright believes BNT327’s current comprehensive clinical development program, coupled with Bristol’s expertise in the immunotherapy arena and commercial muscle, could provide a competitive advantage to BNT327.
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Read More on BNTX:
- Strategic Partnership with BMY Boosts BioNTech’s Oncology Prospects and Financial Stability
- BNT327 deal bolsters BioNTech’s competitive position, says Leerink
- BioNTech SE’s Strategic Partnership with Bristol Myers Squibb Boosts Financial Prospects and Reinforces Buy Rating
- BioNTech price target raised to $155 from $151 at Truist
- Bristol deal takes out ‘key’ potential buyer of Summit Therapeutics, says Truist
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