Goldman Sachs Upgrades BioNTech to Buy, Raises Price Target
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 22 2024
0mins
Should l Buy BNTX?
Source: Benzinga
BioNTech SE (BNTX) shares surged 3.12% as the stock reached a 20-day high, following a positive upgrade from Goldman Sachs.
Goldman Sachs upgraded BioNTech from 'Neutral' to 'Buy', raising the price target from $115 to $142, reflecting confidence in its oncology strategy and upcoming late-stage data readouts planned for 2026. This upgrade indicates a potential upside of approximately 34%, which has contributed to the bullish sentiment among retail investors, despite some concerns regarding the recent acquisition of CureVac.
The upgrade positions BioNTech favorably as it pivots towards oncology, aiming to establish itself as a multi-product oncology company by 2030. The market's positive response to the upgrade suggests strong investor interest in BioNTech's future prospects.
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Analyst Views on BNTX
Wall Street analysts forecast BNTX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BNTX is 141.93 USD with a low forecast of 116.00 USD and a high forecast of 181.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
12 Buy
3 Hold
0 Sell
Strong Buy
Current: 106.620
Low
116.00
Averages
141.93
High
181.00
Current: 106.620
Low
116.00
Averages
141.93
High
181.00
About BNTX
BioNTech SE is a Germany-based clinical-stage biotechnology company. The Company focuses on patient-specific immunotherapies for the treatment of cancer and other serious diseases. The Company is providing technologies including mRNA-based therapies, cell therapies, small molecules and antibodies, which can be utilized for specific purposes or can be even combined with each other in a synergistic manner. It also develops a broad product pipeline using different scientific approaches and technology platforms, including individualized mRNA-based product candidates, chimeric antigen receptor T-cells, checkpoint immunomodulators, targeted cancer antibodies and small molecules. In addition, the Company offers diagnostic products and drug discovery services for other therapeutic areas, including infectious diseases, allergies and autoimmune disorders.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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