BioNTech (NASDAQ:BNTX) Price Target Cut to $122.00 by Analysts at JPMorgan Chase & Co.

BioNTech (NASDAQ:BNTX) had its price target decreased by JPMorgan Chase & Co. from $124.00 to $122.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also issued reports on BNTX. Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, November 19th. TD Cowen decreased their price objective on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $137.00 in a report on Friday, November 8th. Finally, Berenberg Bank started coverage on BioNTech in a report on Tuesday, November 19th. They set a “buy” rating and a $130.00 price objective for the company. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.64.

BioNTech Stock Down 1.8 %

NASDAQ BNTX opened at $118.54 on Tuesday. The stock’s 50 day simple moving average is $113.54 and its 200 day simple moving average is $98.00. BioNTech has a one year low of $76.53 and a one year high of $131.49. The firm has a market cap of $28.42 billion, a PE ratio of -56.45 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.26) by $2.07. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company posted $0.73 earnings per share. As a group, sell-side analysts forecast that BioNTech will post -3.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioNTech

A number of hedge funds and other institutional investors have recently made changes to their positions in BNTX. Vestcor Inc bought a new stake in shares of BioNTech in the 3rd quarter valued at $784,000. Y Intercept Hong Kong Ltd acquired a new position in BioNTech in the third quarter valued at about $718,000. XTX Topco Ltd acquired a new stake in shares of BioNTech during the third quarter worth about $459,000. State Street Corp lifted its holdings in shares of BioNTech by 2.0% during the 3rd quarter. State Street Corp now owns 155,867 shares of the company’s stock valued at $18,512,000 after purchasing an additional 3,014 shares in the last quarter. Finally, Redmile Group LLC acquired a new position in shares of BioNTech in the 3rd quarter valued at approximately $18,345,000. 15.52% of the stock is owned by institutional investors.

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.