Guggenheim Sees Upside for Nanobiotix with $64 Price Target

Guggenheim assumed coverage of Nanobiotix S.A. (NASDAQ:NBTX) with a Buy rating and $64 target, focusing on J&J-partnered JNJ-1900.

The pivotal Phase 3 study, NANORAY-312, is evaluating radiotherapy-activated JNJ-1900 in patients with locally advanced head and neck cancer who are ineligible for platinum-based chemotherapy.

Guggenheim believes the trial has high odds of success based on its KOL checks and analysis of the study, and the final Phase 3 data is expected in the first half of 2027.