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

Shares of BioNTech SE (NASDAQ:BNTX) shot up 0.6% 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 trading, a decline of 83% from the average session volume of 814,952 shares. The stock had previously closed at $118.54.

Several other equities research analysts have also recently commented on BNTX. Evercore ISI upgraded BioNTech from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 19th. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and upped 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 BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating on the stock in a report on Tuesday. Four investment 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Hedge Funds Weigh In On BioNTech

Several hedge funds have recently made changes to their positions in BNTX. GAMMA Investing LLC boosted its holdings in BioNTech by 21.7% during the third quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after buying an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of BioNTech by 106.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares during the last quarter. Blue Trust Inc. raised its position in shares of BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after purchasing an additional 388 shares during the period. Gallacher Capital Management LLC lifted its holdings in shares of BioNTech by 12.1% during the second quarter. Gallacher Capital Management LLC now owns 3,657 shares of the company’s stock valued at $294,000 after purchasing an additional 395 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in shares of BioNTech by 6.1% in the 2nd quarter. TD Asset Management Inc now owns 7,590 shares of the company’s stock valued at $612,000 after purchasing an additional 435 shares during the period. Institutional investors and hedge funds own 15.52% of the company’s stock.

BioNTech Price Performance

The stock has a 50 day moving average of $113.52 and a two-hundred day moving average of $98.35. 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 stock has a market cap of $28.94 billion, a PE ratio of -57.49 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last released its earnings results 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. Equities analysts anticipate that BioNTech SE will post -3.68 EPS for the current 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.