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120.72
1.84%
2.18
Why is Biontech Se Adr (BNTX) Stock down?
We've noticed a 7.10% decline in Biontech Se Adr (BNTX) stock during the 2024-11-14 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
16 Oct, 2023:
Shares of BioNTech Se (BNTX) dropped by 6.38% from $103.58 to $96.97 in the trading on Monday, October 16, 2023. The reasons why BNTX stock down include:
- Pfizer's sales outlook cut: BioNTech's partner, Pfizer, decided to slash its full-year sales expectations by $9 billion, citing a shift towards the commercial approval of its Paxlovid COVID treatment and other factors. The impact of Pfizer's news rippled through the pharmaceutical sector, causing declines in the shares of BioNTech.
- Downgrade rating: BioNTech received a downgrade from HSBC research analysts on Monday. They changed their rating from Buy to hold in a research report distributed to clients and investors, as reported by Marketbeat.com. Additionally, they revised their price target for the stock from $124.00 to $111.00. This indicates a more neutral stance on BioNTech's prospects, reflecting a potential shift in market sentiment or the analysts' assessment of the company's current position.
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