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BioNTech price target lowered to $138 from $145 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on BioNTech (BNTX) to $138 from $145 and keeps a Buy rating on the shares after the company entered into a definitive purchase agreement with CureVac (CVAC). The firm views the acquisition as “incrementally positive,” saying removes a litigation headwind for BioNTech, strengthens the company’s mRNA patent portfolio, and expands BioNTech’s manufacturing capability.

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