BioNTech price target lowered to $133 from $180 at H.C. Wainwright

H.C. Wainwright analyst Robert Burns lowered the firm’s price target on BioNTech to $133 from $180 and keeps a Buy rating on the shares following the Q3 report. The company’s “substantial war chest should facilitate meaningful acquisitions in the future,” the analyst tells investors in a research note. The firm dropped the price target after taking lower Comirnaty revenue for 2024 and beyond into account as well as higher operating expenses. Investors “should be aware that basal assumptions for future commercial performance of BioNTech’s COVID-19 vaccine franchise shall likely remain muted going forward,” says H.C. Wainwright.