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This article will provide an in-depth analysis of drugs being developed to combat cancer. Big Pharma is keenly interested in the global cancer therapeutics market, which is expected to exceed $400 billion by 2028. Every year, the FDA and EMA approve dozens of anticancer drugs, so Seeking Alpha readers should be careful when making decisions.
On Thursday, Truist initiated coverage on BioNTech SE BNTX, a famed COVID-19 vaccine maker, in collaboration with Pfizer Inc PFE.
Truist initiated coverage of BioNTech with a Buy rating and $172 price target. BioNTech is an oncology company "at heart, even though it was the COVID vaccine that made it a household name," the analyst tells investors in a research note. The firm says that with the pandemic in the rear-view mirror, investor focus is increasingly shifting to BioNTech's oncology business. It says 2025 is set up with potentially stock-moving read-outs for key assets, presenting "ample opportunity" for BioNTech to grow into the price target.
Nearly one year ago, I made four predictions about the stock market in 2024. I thought the S&P 500 would generate positive returns but lower than in 2023.