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

BioNTech SE (NASDAQ:BNTX)’s share price rose 1.8% during mid-day 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. Approximately 604,438 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 817,167 shares. The stock had previously closed at $118.54.

Several other analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft increased 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. TD Cowen reduced their target price on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a research note on Tuesday, November 5th. UBS Group increased their price target on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. The Goldman Sachs Group raised BioNTech from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $137.00 in a report on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and issued a $150.00 target price on shares of BioNTech in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.67.

Hedge Funds Weigh In On BioNTech

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNTX. GAMMA Investing LLC raised its stake in shares of BioNTech by 21.7% in the third quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock valued at $74,000 after acquiring an additional 111 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in BioNTech by 106.3% in the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after purchasing an additional 252 shares in the last quarter. Blue Trust Inc. boosted its stake in BioNTech by 491.1% in the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after purchasing an additional 388 shares in the last quarter. Gallacher Capital Management LLC grew 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 worth $294,000 after purchasing an additional 395 shares during the last quarter. Finally, TD Asset Management Inc increased its stake in shares of BioNTech by 6.1% in the second quarter. TD Asset Management Inc now owns 7,590 shares of the company’s stock valued at $612,000 after buying an additional 435 shares in the last quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

BioNTech Price Performance

The stock has a fifty day moving average of $113.69 and a 200-day moving average of $98.50. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $28.38 billion, a P/E ratio of -56.94 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. BioNTech’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.73 earnings per share. Equities analysts predict that BioNTech SE will post -3.68 EPS 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.