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

BioNTech SE (NASDAQ:BNTX) shares traded up 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. 137,366 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 814,952 shares. The stock had previously closed at $118.54.

Several other research firms have also commented on BNTX. Deutsche Bank Aktiengesellschaft upped their price objective on BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. HC Wainwright restated a “buy” rating and set a $150.00 price target on shares of BioNTech in a research report on Monday, November 18th. Evercore ISI raised shares of BioNTech from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $110.00 to $125.00 in a report on Tuesday, November 19th. Berenberg Bank began coverage on BioNTech in a research report on Tuesday, November 19th. They set a “buy” rating and a $130.00 target price on the stock. Finally, UBS Group upped their price target on BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of BioNTech by 86.9% in the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after buying an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of BioNTech by 106.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after purchasing an additional 252 shares during the last quarter. Planning Capital Management Corp boosted its holdings in shares of BioNTech by 45,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after purchasing an additional 450 shares during the last quarter. Blue Trust Inc. grew its position in shares of BioNTech by 491.1% in the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after purchasing an additional 388 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of BioNTech by 430.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock valued at $155,000 after purchasing an additional 1,562 shares during the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock has a 50 day simple moving average of $113.42 and a two-hundred day simple moving average of $98.19. The company has a market cap of $28.94 billion, a price-to-earnings ratio of -57.48 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share 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 firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $514.08 million. During the same quarter in the previous year, the company posted $0.73 EPS. The company’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts predict that BioNTech SE will post -3.68 earnings per share for the current fiscal 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.