svb securities a division of svb financial group sivb believes biontech se – adr bntx stock is trading below the most negative scenario for the covid19 vaccine market the svb financial analyst daina m graybosch upgraded the stock from market perform to outperform and lowered the price target from 253 to 223 the biontech thesis graybosch lowered the price target as a slight downtick is expected for revenue for biontechs second quarter even though the analyst believed that annual covid19 booster shots which would bring in steady revenue are still a strong possibility and biontech is one the leaders in vaccine production while annual boosters would help the company’s revenue graybosch shared that annual boosters would be met with low adherence from the public adding that a past covid19 infection provided more protection than a booster shot and sentiment could decrease public demand for a booster the note also shared that reinfection decreases the realworld effectiveness of the vaccine also read fda eyes new vaccine composition in response to covid mutations heres what you need to know in addition to the covid19 vaccine market graybosch saw value in biontech’s oncology sector biontech has been working on a program known as inest which focuses on creating a different treatment for each patient through blood work and other samples the analyst believed in the longterm success of the program and the possibilities it will bring to biontech overall graybosch had a very optimistic outlook on biontech and foresaw a strong future for the biotech growth stock as it introduces inest in the coming years along with continuing to supply covid19 vaccines around the globe while decreasing the company’s price target could be seen as a negative improving stock conditions to outperform could be good for biontech and its shareholders bntx price action biontech closed wednesday up 322 at 16662 a share according benzinga pro photo courtesy of province of british columbia on flickr