BioNTech (NASDAQ:BNTX) Shares Up 0.5% – Here’s Why

BioNTech SE (NASDAQ:BNTX) shares rose 0.5% on Monday . The stock traded as high as $119.65 and last traded at $119.02. Approximately 89,837 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 812,618 shares. The stock had previously closed at $118.39.

Analysts Set New Price Targets

BNTX has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $150.00 target price on shares of BioNTech in a report on Monday, November 18th. HSBC boosted their target price on BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Canaccord Genuity Group increased their price target on BioNTech from $171.00 to $171.44 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley raised BioNTech from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group upgraded BioNTech from a “hold” rating to a “buy” rating and increased their target price for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.67.

BioNTech Stock Performance

The firm’s 50 day moving average is $113.81 and its 200 day moving average is $98.77. 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 $28.16 billion, a P/E ratio of -56.68 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of ($1.26) by $2.07. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. During the same quarter in the prior year, the business posted $0.73 EPS. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. Analysts anticipate that BioNTech SE will post -3.72 EPS for the current year.

Institutional Trading of BioNTech

Several institutional investors and hedge funds have recently bought and sold shares of BNTX. Baillie Gifford & Co. boosted its stake in shares of BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after buying an additional 31,773 shares during the last quarter. FMR LLC raised its stake in BioNTech by 797.8% in the 3rd quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after purchasing an additional 5,598,190 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its position in BioNTech by 4.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after acquiring an additional 24,426 shares during the last quarter. Candriam S.C.A. raised its holdings in shares of BioNTech by 261.2% during the 2nd 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 during the period. Finally, Fred Alger Management LLC purchased a new stake in shares of BioNTech in the third quarter valued at about $59,485,000. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.