Jefferies upgraded BioNTech (BNTX) to Buy from Hold with a price target of $150, up from $96. Following Summit Therapeutics’ (SMMT) “encouraging” Ivonescimab data, BioNTech’s anti-VEGF-A antibody candidate BNT327 could become a significant revenue driver, the analyst tells investors in a research note. The firm has increased conviction on BNT327, saying it “could be the asset that makes its ADC combo strategy ‘work.'”
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