Goldman Sachs analyst Chris Shibutani upgrades $BioNTech (BNTX.US)$ to a buy rating, and adjusts the target price from $90 to $137.
According to TipRanks data, the analyst has a success rate of 44.4% and a total average return of 11.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $BioNTech (BNTX.US)$'s main analysts recently are as follows:
The upgrade of BioNTech's rating reflects the incorporation of projections for BNT327, an innovative immuno-oncology candidate under clinical trials for various solid tumor types, into valuation models. The investment rationale for BioNTech is observed to be shifting from the challenging-to-predict COVID-19 vaccine market to the emerging substantial opportunity presented by BNT327. Success in the development of BNT327 could significantly contribute to BioNTech's ambition of establishing a dominant commercial presence in the oncology sector.
The firm noted that while financial results surpassed expectations and forecasts were maintained, attention is now shifting to the Oncology pipeline. This area is anticipated to provide multiple data outcomes from mid-to-late stage research in the latter part of 2024 and throughout 2025.
Note:
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