BioNTech Gets Price Target Bumps From BofA, Clear Street After Strong Q2, Oncology Pipeline Push

The German biotech firm reaffirmed its full-year guidance and reported lower operating expenses alongside a solid cash position.

BioNTech is back in Wall Street’s spotlight after posting better-than-expected second-quarter results and doubling down on its cancer drug pipeline, prompting fresh price target upgrades from Clear Street and Bank of America.

Clear Street lifted its price target to $185 from $181, highlighting BioNTech’s oncology pipeline and expected Phase 2 readouts for BNT327 in small cell lung and triple-negative breast cancer by the second half of 2025. 

Bank of America raised its target to $134 from $126, citing a top-line beat and continued execution in COVID-19 variant-adapted and combination vaccines.

BioNTech’s collaboration with Bristol Myers Squibb (BMS) remains central to its oncology plans. The collaboration focuses on the development of BNT327, a PD-L1/VEGF-A bispecific antibody, and includes a $1.5 billion upfront payment expected in Q3. 

The deal could bring in up to $3.5 billion in non-contingent milestone payments through 2028, with another $7.6 billion tied to development and commercial milestones.

For the second quarter ended June 30, BioNTech reported revenue of €260.8 million, more than double the €128.7 million it posted a year ago. 

The company recorded a net loss of €386.6 million, or €1.60 per share, a significant improvement from the €807.8 million loss, or €3.36 per share, in the same quarter last year. 

Cost controls also helped the bottom line, as R&D expenses fell to €509 million, and SG&A spending dropped to €137 million.

BioNTech ended the quarter with a strong cash position of €16 billion, comprising cash, cash equivalents, and securities investments. The incoming $1.5 billion payment from BMS is expected to further boost liquidity in the third quarter.

The company reaffirmed its 2025 revenue guidance of €1.7 billion to €2.2 billion, with the majority expected to be realized in the final months of the year. Full-year R&D spending is projected between €2.6 billion and €2.8 billion, and SG&A between €650 million and €750 million.

On Stocktwits, retail sentiment for BioNTech was ‘extremely bullish’ amid ‘high’ message volume.

BioNTech’s stock has declined 4.6% so far in 2025.

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