BioNTech price target lowered to $143 from $147 at BofA

BofA lowered the firm’s price target on BioNTech (BNTX) to $143 from $147 and keeps a Buy rating on the shares after the company reported quarterly results, with FY24 COVID revenues coming in higher than consensus and the firm’s estimates. Management noted that while they expect vaccination rates to remain relatively stable, changes in vaccine policies in the U.S. or other regions could impact the guidance, the analyst tells investors in a research note. The firm added that the company underscored the strategic priorities are on advancing the oncology pipeline focusing on the cancer vaccine and BNT327 platforms. BofA said it will look for color on COVID vaccine dynamics in 2025 but remains encouraged by several shots on goal from the oncology pipeline.