BioNTech (NASDAQ:BNTX) Trading 0.6% Higher on Analyst Upgrade

BioNTech SE (NASDAQ:BNTX) rose 0.6% on Wednesday after Canaccord Genuity Group raised their price target on the stock from $171.00 to $171.44. Canaccord Genuity Group currently has a buy rating on the stock. BioNTech traded as high as $121.51 and last traded at $119.27. Approximately 137,366 shares traded hands during trading, a decline of 83% from the average daily volume of 814,952 shares. The stock had previously closed at $118.54.

Several other research analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. HC Wainwright reissued a “buy” rating and issued a $150.00 target price on shares of BioNTech in a research report on Monday, November 18th. Bank of America raised their price target on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Jefferies Financial Group upgraded BioNTech from a “hold” rating to a “buy” rating and raised their target price for the company from $96.00 to $150.00 in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BNTX. FMR LLC increased its position in shares of BioNTech by 797.8% in the 3rd quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after purchasing an additional 5,598,190 shares during the last quarter. Fred Alger Management LLC purchased a new position in BioNTech in the third quarter valued at $59,485,000. Candriam S.C.A. raised its stake in BioNTech by 261.2% in the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after buying an additional 418,695 shares in the last quarter. Point72 Asset Management L.P. lifted its holdings in BioNTech by 283.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock worth $37,103,000 after buying an additional 341,311 shares during the last quarter. Finally, Braidwell LP acquired a new position in shares of BioNTech during the 3rd quarter worth about $29,425,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Trading Up 1.8 %

The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.94 billion, a PE ratio of -57.48 and a beta of 0.26. The business has a fifty day moving average price of $113.42 and a 200 day moving average price of $98.19.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis. Analysts forecast that BioNTech SE will post -3.68 EPS for the current year.

BioNTech Company Profile

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, which is in Phase II clinical trial for advance melanoma; BNT112 that is in Phase I/IIa clinical trial for prostate cancer; BNT113, which is in Phase II clinical trial to treat HPV 16+ head and neck cancers; BNT114 to treat triple negative breast cancer; BNT115, which is in Phase I clinical trial in ovarian cancer; and BNT116, which is in Phase I clinical trial for non-small cell lung cancer.