JPMorgan analyst Jessica Fye downgraded BioNTech to Underweight from Neutral with a price target of $99, down from $106. The analyst acknowledges the company’s “healthy” cash balance and sees limited absolute downside from here. However, downward revisions to long-term estimates and protracted time lines to meaningful pipeline readouts could hinder the stock’s ability to recover, the analyst tells investors in a research note. The firm believes shrinking expectations for the COVID business have weighed on the stock and that the uncertainty will continue to represent a headwind.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on BNTX:
- Singapore says Nuvaxovid COVID vaccine won’t be available under NVP as of Jan. 1
- BioNTech price target lowered to $110 from $153 at UBS
- Moderna tells Reuters will appeal European Patent Office decision
- BioNTech says Moderna patent declared invalid by EPO, Reuters reports
- BioNTech price target lowered to $133 from $180 at H.C. Wainwright