BioNTech (NASDAQ:BNTX) Stock Price Up 0.6% on Analyst Upgrade

BioNTech SE (NASDAQ:BNTX) shares rose 0.6% during trading 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 were traded during mid-day trading, a decline of 83% from the average daily volume of 814,952 shares. The stock had previously closed at $118.54.

A number of other analysts have also issued reports on BNTX. Jefferies Financial Group raised 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. Bank of America raised their price target on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. UBS Group upped their price objective on shares of BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $137.00 in a research note on Friday, November 8th. Finally, Berenberg Bank started coverage on BioNTech in a research report on Tuesday, November 19th. They issued a “buy” rating and a $130.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

Institutional Trading of BioNTech

Large investors have recently made changes to their positions in the business. Candriam S.C.A. raised its stake in shares of BioNTech by 261.2% in the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after acquiring an additional 418,695 shares during the last quarter. Baillie Gifford & Co. increased its position in BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after purchasing an additional 31,773 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in BioNTech by 63.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,939 shares of the company’s stock worth $2,249,000 after purchasing an additional 7,340 shares during the last quarter. Discovery Capital Management LLC CT acquired a new position in BioNTech during the 2nd quarter valued at about $2,467,000. Finally, Deerfield Management Company L.P. Series C boosted its stake in shares of BioNTech by 4.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock valued at $47,734,000 after purchasing an additional 24,426 shares during the last quarter. Institutional investors own 15.52% of the company’s stock.

BioNTech Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. The company has a market cap of $28.59 billion, a price-to-earnings ratio of -56.79 and a beta of 0.26. The firm’s 50-day moving average price is $113.54 and its 200 day moving average price is $98.00.

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

About BioNTech

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.