BioNTech (NASDAQ:BNTX) Shares Up 1.8% Following Analyst Upgrade

BioNTech SE (NASDAQ:BNTX)’s share price shot up 1.8% during trading on Thursday 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 $120.72. 604,438 shares were traded during mid-day trading, a decline of 26% from the average session volume of 817,167 shares. The stock had previously closed at $118.54.

Several other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on BioNTech from $95.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $150.00 price target on shares of BioNTech in a research note on Monday, November 18th. UBS Group upped their price target on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. HSBC upped their price target on BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, TD Cowen cut their price target on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research note on Tuesday, November 5th. Four equities research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.67.

Institutional Investors Weigh In On BioNTech

Several large investors have recently modified their holdings of BNTX. FMR LLC increased its holdings in shares of BioNTech by 797.8% in the third quarter. FMR LLC now owns 6,299,929 shares of the company’s stock worth $748,243,000 after acquiring an additional 5,598,190 shares in the last quarter. Fred Alger Management LLC bought a new stake in shares of BioNTech in the third quarter worth about $59,485,000. Candriam S.C.A. increased its holdings 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 in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of BioNTech by 283.5% in the second quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock worth $37,103,000 after acquiring an additional 341,311 shares in the last quarter. Finally, Braidwell LP acquired a new position in shares of BioNTech during the third quarter worth about $29,425,000. 15.52% of the stock is currently owned by institutional investors.

BioNTech Stock Up 1.8 %

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 company has a market capitalization of $28.94 billion, a price-to-earnings ratio of -57.49 and a beta of 0.26. The firm has a 50-day moving average price of $113.52 and a two-hundred day moving average price of $98.35.

BioNTech (NASDAQ:BNTX) last posted 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. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. BioNTech’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. As a group, sell-side analysts anticipate that BioNTech SE will post -3.68 earnings per share for the current fiscal 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.