- BofA Securities has upgraded BioNTech SE (NASDAQ:BNTX) and maintains a $239 price target.
- The analyst views the current valuation as an attractive entry opportunity citing several near-term opportunities, including an expanded opportunity for the COVID vaccine and de-risking of the growing oncology pipeline.
- Recent update on Moderna Inc (NASDAQ:MRNA) / Merck & Co Inc (NYSE:MRK) on personalized cancer vaccine for melanoma might provide POC validation ahead of BNT122’s readout in combo with Keytruda in 1L advanced melanoma in 1H23.
- The analyst writes that the mRNA-based flu/COVID combo vaccine represents an attractive opportunity, with positive data probably next year could represent additional upside.
- Amid lower demand for vaccines, BofA lowered its COVID revenues to BNTX to €8 billion in 2023 (down from €17 billion in ’22) and assumed a more conservative stance near term).
- The oncology pipeline represents the next leg of growth for the company, and the analyst sees potential for an upside as these programs mature. iNeST and FixVac currently contribute $33/share to BofA valuation.
- Price Action: BNTX shares are down 2.93% at $180.59 on the last check Thursday.
Regeneron-Sanofi’s Flagship Dupixent Becomes First FDA-Approved Treatment For Prurigo Nodularis
The FDA approved Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Sanofi SA’s (NASDAQ:SNY) Dupixent (dupilumab) for the treatment of adult patients with prurigo nodularis. With…
