BioNTech price target lowered to $150 from $216 at Morgan Stanley

Morgan Stanley analyst Matthew Harrison lowered the firm’s price target on BioNTech to $150 from $216 and keeps an Equal Weight rating on the shares. Q4 revenue beat, but that was "not an investor focus" as management guided to 2023 COVID vaccine sales of about EUR 5B, versus the EUR 8B consensus forecast. The firm, which lowered its mid-term COVID vaccine revenues to account for guidance and a rephased EU contract, said that with "COVID numbers now reset" the 2023 focus can shift to the pipeline.