Investing.com - Leerink raised its price target on Nanobiotix S.A (NASDAQ:NBTX) to $46.00 from $37.00 Thursday while maintaining an Outperform rating. The stock currently trades at $35.20, reflecting a remarkable 674% gain over the past year, though shares declined 13% in the past week. According to InvestingPro analysis, the stock appears overvalued relative to its Fair Value, with analysts setting price targets ranging from $29.70 to $70.14.
The firm increased its price target to reflect increased conviction for NBTXR3 in stage III unresectable non-small cell lung cancer following a data update at ESTRO 2026. Nanobiotix provided a pipeline update and reported its first-quarter 2026 cash balance.
The company highlighted recent operational progress, including a follow-on offering last month. Partner Johnson & Johnson presented data from the CONVERGE study evaluating NBTXR3, a radioenhancer, in stage III unresectable non-small cell lung cancer at the 2026 European Society for Radiotherapy and Oncology Annual Meeting.
Nanobiotix announced a protocol amendment last month for its Phase III NANORAY-312 study in locally advanced squamous cell carcinoma of the head and neck. The amendment streamlined the study’s statistical plan.
Leerink views the NBTXR3 data and the Johnson & Johnson collaboration as supportive and sees potential for the radioenhancer in areas that represent large commercial opportunities. The firm acknowledges clinical and commercial risks of the novel radioenhancer.
In other recent news, Nanobiotix reported its fiscal year 2025 earnings, showing a significant financial turnaround with a net loss of EUR 24 million, improved from a EUR 68.1 million loss in 2024. This improvement was attributed to a one-time accounting impact from an amended licensing agreement with Johnson & Johnson and a reduction in R&D expenses. However, the company missed its earnings per share expectations, reporting an EPS of -0.5069 compared to a forecast of -0.3943. Guggenheim raised its price target for Nanobiotix to $36 from $26, citing an increased probability of success for the company’s Stage 3 non-small cell lung cancer program. UBS also adjusted its price target to $30 from $3.50, reflecting reduced operational and financing risks. Leerink Partners increased its price target to $37 from $26, highlighting pipeline progress and alignment with financial expectations. These developments reflect a positive sentiment in the market regarding Nanobiotix’s strategic advancements and financial health.
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