BioNTech (BNTX) PT Lowered to $95 at TD Cowen
TD Cowen analyst Yaron Werber lowered the price target on BioNTech (NASDAQ: BNTX) to $95.00 (from $101.00) while maintaining a Market Perform rating.
The analyst comments "€1.5B in Q4 Comirnaty sales missed consensus €1.8B due to write-downs from PFE & waning demand for COVID-19 boosters. FY24 revs guidance lowered to €2.5-3.1B (from ~€3B). Oncology pipeline now the focus w/ Ph1 FixVac & iNeST data at AACR & multiple Ph1/2 ADC & IO updates throughout 2024. Ph1 shingles vaccine update also expected in H2:24. Lowering COVID ests drives new PT $95 (-$6)."