Nanobiotix price target raised to $30 from $3.50 at UBS

UBS raised the firm’s price target on Nanobiotix (NBTX) to $30 from $3.50 and keeps a Neutral rating on the shares. Shares have surged over the past year on improved biotech sentiment and de-risking events including Johnson & Johnson’s (JNJ) involvement and a non-dilutive royalty financing deal, but with Phase 3 NANORAY-312 data not expected until 1H27, the stock appears fairly valued with limited near-term upside and a binary longer-term outcome tied to trial results, the analyst tells investors in a research note.