JPMorgan Chase & Co. Issues Pessimistic Forecast for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX) had its price objective cut by JPMorgan Chase & Co. from $124.00 to $122.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.06% from the stock’s current price.

A number of other research firms have also recently issued reports on BNTX. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Bank of America lifted their price objective on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Berenberg Bank initiated coverage on BioNTech in a research note on Tuesday, November 19th. They set a “buy” rating and a $130.00 target price for the company. Finally, Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $110.00 to $125.00 in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

BioNTech Price Performance

NASDAQ BNTX opened at $120.72 on Tuesday. The company has a market cap of $28.94 billion, a P/E ratio of -57.48 and a beta of 0.26. The company has a fifty day simple moving average of $113.42 and a 200 day simple moving average of $98.19. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. BioNTech has a 1 year low of $76.53 and a 1 year high of $131.49.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, topping 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 period in the prior year, the firm earned $0.73 earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, sell-side analysts predict that BioNTech will post -3.68 EPS for the current year.

Hedge Funds Weigh In On BioNTech

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in BioNTech by 86.9% during the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock valued at $41,000 after buying an additional 238 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after buying an additional 252 shares during the last quarter. Planning Capital Management Corp raised its stake in BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after purchasing an additional 450 shares in the last quarter. Blue Trust Inc. increased its stake in BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in BioNTech by 430.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock valued at $155,000 after buying an additional 1,562 shares during the period. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.