BioNTech SE (NASDAQ:BNTX) reported a decline in sales for its fourth quarter.
BioNTech reported Q4 FY22 revenues of €4.28 billion, down from €5.5 billion a year ago, due to the changes in the demand for COVID-19 vaccines. The company posted Q4 diluted EPS of €9.26, down from €12.18 a year ago.
BioNTech expects FY23 COVID-19 vaccine revenue of approximately €5 billion compared to €17.1 billion in 2022.
BioNTech shares dropped 3.6% to close at $123.60 on Monday and lost 1% in today’s pre-market trading session.
These analysts made changes to their price targets on BioNTech following the release of results.
- Goldman Sachs lowered the price target on BioNTech from $156 to $140. Goldman Sachs analyst Chris Shibutani maintained a Neutral rating.
- Morgan Stanley cut the price target on BioNTech from $216 to $150. Morgan Stanley analyst Matthew Korn maintained an Equal-Weight rating.
- Canaccord Genuity raised the price target on BioNTech from $191 to $203. Canaccord Genuity analyst Bill Selesky maintained the stock with a Buy rating.
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