Is BioNTech Stock Really Headed to $119?
BioNTech (NASDAQ: BNTX), a previously little-known biotech that has become a leading coronavirus stock, is well positioned to rise 40%. That's the belief of Commerzbank, which like BioNTech is based in Germany. On Thursday, the lender initiated coverage of the company's stock with a buy at a price target of $119 per share.
BioNTech vaulted to prominence on its collaboration with global pharmaceutical industry giant Pfizer. The two companies are busy developing BNT162b2, a coronavirus vaccine candidate based on messenger RNA (mRNA). This is currently very deep in phase 2/3 clinical trials, making it one of only a handful of candidates to advance to late-stage testing so far.
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Source Fool.com
