BioNTech (NASDAQ:BNTX) Trading 5.2% Higher After Analyst Upgrade

Shares of BioNTech SE (NASDAQ:BNTX) rose 5.2% during mid-day trading on Friday after Jefferies Financial Group raised their price target on the stock from $90.00 to $96.00. Jefferies Financial Group currently has a hold rating on the stock. BioNTech traded as high as $110.49 and last traded at $110.42. Approximately 402,808 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 713,732 shares. The stock had previously closed at $105.00.

A number of other equities research analysts also recently issued reports on the stock. HSBC upgraded shares of BioNTech from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded BioNTech from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $113.00 price target on shares of BioNTech in a research note on Tuesday, August 27th. JPMorgan Chase & Co. dropped their price objective on BioNTech from $94.00 to $91.00 and set an “underweight” rating for the company in a research report on Thursday, August 15th. Finally, TD Cowen decreased their target price on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $108.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its stake in shares of BioNTech by 121.0% during the first quarter. GAMMA Investing LLC now owns 274 shares of the company’s stock valued at $25,000 after acquiring an additional 150 shares during the last quarter. Frazier Financial Advisors LLC acquired a new position in BioNTech during the 4th quarter worth about $30,000. Covestor Ltd grew its position in shares of BioNTech by 47.2% in the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 133 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of BioNTech by 106.3% in the 1st 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. Finally, Crewe Advisors LLC acquired a new stake in shares of BioNTech in the first quarter valued at about $75,000. Institutional investors own 15.52% of the company’s stock.

BioNTech Stock Performance

The stock has a 50 day moving average of $87.28 and a 200 day moving average of $89.67. The company has a market capitalization of $29.34 billion, a price-to-earnings ratio of 246.80 and a beta of 0.23. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings results on Monday, August 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The firm had revenue of $128.70 million during the quarter, compared to analyst estimates of $134.98 million. During the same quarter last year, the firm posted ($0.86) EPS. The firm’s revenue for the quarter was down 23.3% on a year-over-year basis. As a group, analysts predict that BioNTech SE will post -2.8 EPS for the current 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.