Shares of BioNTech (BNTX) and other COVID vaccine manufacturers are expected to be volatile this week, impacted by the resignation of Peter Marks as director of the Center for Biologics Evaluation and Research, Truist Securities said in a Monday note.
Marks' resignation letter suggested a disagreement related to vaccines with incoming US Department of Health and Human Services Secretary Robert Kennedy Jr., Truist analysts said, adding that Kennedy Jr. may have plans for an "anti-vax propaganda campaign."
Kennedy Jr. could impact COVID vaccines by delaying the meetings of vaccine expert panels and replacing members on the Advisory Committee on Immunization Practices, the analysts said. A transition of COVID vaccine-related injury claims from the Countermeasures Injury Compensation Program to the Vaccine Injury Compensation Program could "considerably" increase the amount that victims are compensated, and vaccine manufacturers may be required to contribute to the funding, the analysts said.
Truist maintained a buy rating on the stock with a $151 price target.
Price: 89.98, Change: -4.97, Percent Change: -5.23
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