BioNTech price target lowered to $181 from $185 at Clear Street

Clear Street analyst Bill Maughan lowered the firm’s price target on BioNTech (BNTX) to $181 from $185 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q3 report. Today’s selloff is related to the regulatory readthrough from an adverse FDA communication to uniQure (QURE), the analyst tells investors in a research note. Clear Street views BioNTech’s updated guidance as a “healthy sign of a company improving its operating efficiency.”