Leerink Partners analyst Daina Graybosch has maintained their bullish stance on BNTX stock, giving a Buy rating yesterday.
Geoff Meacham has given his Buy rating due to a combination of factors surrounding BioNTech SE’s strategic partnership and financial planning. This partnership with Autolus provides BioNTech with a cost-effective and organizationally streamlined path to advance their CAR-T programs, particularly their leading candidate BNT211. The collaboration allows BioNTech to tap into Autolus’ existing CAR-T infrastructure, which could lead to scale efficiencies and potentially maximize the value of BNT211. This is especially relevant if the application of BNT211 proves to be narrow. Moreover, through this alliance, BioNTech gains a foothold in the promising CD19 CAR-T space, with Autolus’ lead candidate, obe-cel, which is gearing up for commercial launch in the treatment of relapsed or refractory acute lymphocytic leukemia.
Financially, the terms of the deal appear to be favorable for BioNTech, as they secured a mid-single digit royalty arrangement for the same upfront payment that Blackstone paid in a previous year for a similar royalty agreement, despite obe-cel being further de-risked since then with a potential approval in the pipeline. While there is some uncertainty regarding Autolus’ manufacturing capabilities compared to established CAR-T leaders and in the revenue potential from the ALL market due to strong competition, the deal still offers BioNTech an opportunity to build their own CAR-T franchise and potentially benefit from future oncology and autoimmune applications of obe-cel.
In another report released yesterday, H.C. Wainwright also reiterated a Buy rating on the stock with a $107.00 price target.
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BioNTech SE (BNTX) Company Description:
BioNTech SE is a Germany-based biotechnology company that develops and manufactures immunotherapies for cancer, infectious diseases, allergies and autoimmune disorders.
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