BioNTech price target raised to $131 from $97 at UBS

UBS raised the firm’s price target on BioNTech (BNTX) to $131 from $97 and keeps a Neutral rating on the shares following recent data from the company’s and Summit’s (SMMT) ivonescimab. The potential for a novel therapeutic to have improved efficacy could be significant, if the data continue to show superiority vs. PD-1 in larger, global trials, the analyst says. UBS thinks Summit’s data so far is encouraging for this class broadly, including for BioNTech’s.