On Friday, Oppenheimer maintained its Perform rating on shares of BioNTech (NASDAQ: NASDAQ:BNTX), following the announcement of Phase 3 trial results for the company's combined mRNA vaccine against influenza and COVID-19.
The trial results indicated that the vaccine candidate generated strong immune responses for influenza A strains H1N1 and H3N2, compared to an approved influenza vaccine. However, the vaccine showed lower immune responses for the influenza B strain, specifically the Victoria lineage.
The combined vaccine also showed comparable immune responses to SARS-CoV-2 when matched against Comirnaty, which is the standalone COVID-19 vaccine from BioNTech and its partner Pfizer (NYSE:PFE).
The analyst from Oppenheimer views the latest results as a minor setback for BioNTech, with expectations that the near-term attention will likely stay on the company's oncology pipeline development.
Despite the lower immune responses to one of the influenza strains, the analyst suggests that the Flu/Covid combination vaccine continues to present a significant opportunity for the company in the long term.
BioNTech's stock rating remains unchanged as the company navigates the development of its diverse pipeline, including the potential of its combination vaccine.
The market's focus is anticipated to follow the progress of BioNTech's oncology treatments while keeping an eye on the future prospects of its influenza and COVID-19 vaccine candidate.
In other recent news, the Biden administration has begun negotiations with Medicare on the prices of ten prescription drugs, including Eliquis by Bristol Myers (NYSE:BMY) Squibb and Pfizer, and Jardiance by Boehringer Ingelheim and Eli Lilly (NYSE:LLY).
These negotiations, part of the Inflation Reduction Act, are expected to save the U.S. government $6 billion in the first year. The new prices, reducing out-of-pocket expenses for individuals covered by Medicare, are set to take effect in 2026.
In recent developments, Pfizer's RSV vaccine, Abrysvo, has shown a strong immune response in a late-stage study involving adults with compromised immune systems. The study found that a single 120 microgram dose of Abrysvo effectively produced neutralizing antibodies against both RSV-A and RSV-B subtypes.
Pfizer plans to present these findings to regulatory authorities for consideration.
In the financial sector, Citi has increased its price target for Pfizer to $30.00, maintaining a Neutral rating on the stock. This change comes after a review of Pfizer's second-quarter results and updated company guidance.
Goldman Sachs (NYSE:GS) has also reacted positively to Pfizer's robust second-quarter performance, raising its price target and maintaining a Buy rating.
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