BioNTech Shares Drop Following BMO Downgrade, Reduced Price Target
BioNTech SE (NASDAQ:BNTX) shares fell 1.2% in premarket trading after BMO Capital downgraded the stock from Outperform to Market Perform and cut its price target to $105 from $128. The downgrade was attributed to lower global demand for COVID vaccines, an ongoing inventory drawdown in Germany, and a below-consensus revenue outlook for Comirnaty. The move followed BioNTech's announcement that it had terminated a Phase 2 trial of its personalized mRNA cancer vaccine candidate autogene cevumeran with Roche’s Genentech unit due to crossing a futility threshold. Despite this setback, the company continues to advance its broader oncology pipeline, which includes 14 pivotal trials. BioNTech also revised down its full-year 2026 revenue guidance from €2.0 billion–€2.3 billion to €1.6 billion–€1.9 billion, reflecting ongoing changes in the demand for its COVID vaccine business while maintaining R&D spending.
Tickers: $BNTX
Topics: BioNTech BMO Capital downgrade price target cut revenue guidance