On Thursday, Truist initiated protection on BioNTech SE BNTX, a famed COVID-19 vaccine maker, in collaboration with Pfizer Inc PFE.
BioNTech is transitioning from a COVID-focused narrative to a narrative centered on oncology drug improvement and upcoming catalysts.
The analyst, Asthika Goonewardene, writes that BNT327 is on the forefront, a promising drug in an modern class that might problem and doubtlessly surpass the PD-1 class, which generated over $42 billion in 2023.
Additionally Learn: BioNTech Earns Improve From Goldman Sachs As Funding Thesis Shifts Towards Most cancers Potential
Whereas Summit Therapeutics Inc’s SMMT ivonescimab might have a head begin in sure areas, BioNTech’s stronger monetary place and pipeline of complementary merchandise give it a strategic edge. With a number of key knowledge updates anticipated in 2025, the inventory seems well-positioned for long-term development, the analyst provides.
In November, BioNTech agreed to amass Biotheus, a clinical-stage biotechnology firm centered on discovering and growing antibodies for oncological or inflammatory illnesses.
With the acquisition, BioNTech will acquire full international rights to the late-stage medical asset BNT327/PM8002, an investigational bispecific antibody concentrating on PD-L1 and VEGF-A.
Truist initiated with a Purchase score and a worth goal of $172.
BioNTech’s oncology pipeline was beforehand seen as restricted in worth outdoors BNT316. Nonetheless, with BNT327 gaining traction and new knowledge anticipated in 2025 to make clear the potential of different pipeline property, there’s room for larger investor appreciation of the corporate’s oncology portfolio, Truist analyst provides.
Goonewardene additionally writes that COVID-19 stays a major consider BioNTech’s inventory efficiency and that COVID-related developments will proceed to affect BioNTech’s inventory.
The analyst highlights that BNT327 may very well be the primary drug authorised within the U.S. and Europe for key situations like triple-negative breast most cancers and small cell lung most cancers, doubtlessly producing round $2 billion at peak gross sales.
For non-small cell lung most cancers, Truist expects BNT327 to observe shortly, contributing over $4 billion in income.
Worth Motion: BNTX inventory is up 0.55% at $122.82 finally verify Friday.
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