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Fly News Breaks for January 24, 2020
Jan 24, 2020 | 06:43 EDT
SVB Leerink analyst Daina Graybosch downgraded BioNTech to Market Perform from Outperform with a price target of $31, up from $20. The stock has surged past what could be considered a fair valuation, Graybosch tells investors in a research note. Further, the analyst sees no near-term catalysts to support the recent price action. BioNTech's large pipeline has promise, but investors should wait for a better entry point, says the analyst.