Jefferies Financial Group Upgrades BioNTech (NASDAQ:BNTX) to “Buy”

BioNTech (NASDAQ:BNTX) was upgraded by Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a $150.00 target price on the stock, up from their previous target price of $96.00. Jefferies Financial Group’s price target indicates a potential upside of 29.74% from the stock’s previous close.

Other analysts also recently issued research reports about the company. HC Wainwright reissued a “buy” rating and issued a $113.00 price target on shares of BioNTech in a report on Monday. TD Cowen cut their target price on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. JPMorgan Chase & Co. upgraded shares of BioNTech from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $91.00 to $125.00 in a research report on Monday. Bank of America lifted their price objective on shares of BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday. Finally, Hsbc Global Res raised BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $120.31.

BioNTech Stock Down 7.3 %

BNTX stock opened at $115.62 on Tuesday. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 231.24 and a beta of 0.23. BioNTech has a 1-year low of $76.53 and a 1-year high of $131.49. The firm has a fifty day moving average price of $89.02 and a two-hundred day moving average price of $90.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.54 and a quick ratio of 7.40.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings data on Monday, August 5th. The company reported ($3.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The business had revenue of $128.70 million for the quarter, compared to the consensus estimate of $134.98 million. During the same period in the prior year, the company earned ($0.86) EPS. BioNTech’s quarterly revenue was down 23.3% on a year-over-year basis. Research analysts predict that BioNTech will post -2.8 EPS for the current year.

Hedge Funds Weigh In On BioNTech

Hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd boosted its holdings in BioNTech by 2.5% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 4,666 shares of the company’s stock worth $492,000 after buying an additional 116 shares in the last quarter. Covestor Ltd boosted its stake in shares of BioNTech by 47.2% during the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 133 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of BioNTech by 121.0% in the 1st quarter. GAMMA Investing LLC now owns 274 shares of the company’s stock worth $25,000 after acquiring an additional 150 shares during the last quarter. Midwest Professional Planners LTD. raised its position in shares of BioNTech by 7.2% during the first quarter. Midwest Professional Planners LTD. now owns 3,177 shares of the company’s stock worth $293,000 after purchasing an additional 212 shares during the period. Finally, Capital International Ltd. CA lifted its holdings in shares of BioNTech by 1.0% during the fourth quarter. Capital International Ltd. CA now owns 21,066 shares of the company’s stock valued at $2,223,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds 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.