BioNTech price target raised to $150 from $125 at BofA

BofA raised the firm’s price target on BioNTech to $150 from $125 and keeps a Buy rating on the shares after the company presented several updates from the oncology pipeline at ESMO, including data on BNT327, BNT113, BNT211 and BNT316. The key focus was on the BNT327 updates in NSCLC, TNBC and RCC, notes the analyst, who continues to look for clearer points of differentiation, but thinks the totality of data for PD-L1/PD-1xVEGF bispecific support a potential large commercial opportunity for BNT327 across multiple indications. BofA thinks that “while early,” BioNTech “could be on the verge of validating its first multibillion dollar oncology asset,” the analyst added.