Goldman Sachs upgraded BioNTech (BNTX) to Buy from Neutral with a price target of $137, up from $90. The firm upgrade the shares after incorporating forecasts for BNT327, a novel immuno-oncology asset which is in clinical development across multiple solid tumor indications, into its model. Goldman sees the investment thesis in BioNTech continuing to pivot away from “difficult to forecast” COVID-19 vaccine market dynamics, and towards the “potentially significant opportunity “coming into view for BNT327. If BNT327 is successfully developed, it has the potential to drive the company towards achievement of its goal of becoming a leading commercial player in oncology, the analyst tells investors in a research note.
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