BioNTech (NASDAQ:BNTX) Trading Up 1.8% Following Analyst Upgrade

Shares of BioNTech SE (NASDAQ:BNTX) traded up 1.8% during 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. 604,438 shares were traded during mid-day trading, a decline of 26% from the average session volume of 817,167 shares. The stock had previously closed at $118.54.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen reduced their price target on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. HC Wainwright restated a “buy” rating and issued a $150.00 price target on shares of BioNTech in a research report on Monday, November 18th. JPMorgan Chase & Co. reduced their price target on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating on the stock in a research report on Tuesday. Berenberg Bank began coverage on shares of BioNTech in a research report on Tuesday, November 19th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of BioNTech by 86.9% in the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after purchasing an additional 238 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of 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 during the last quarter. Planning Capital Management Corp grew its holdings in shares of BioNTech by 45,000.0% in the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after purchasing an additional 450 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of 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 during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of BioNTech by 430.3% in the second quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock worth $155,000 after purchasing an additional 1,562 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors.

BioNTech Trading Up 1.8 %

The stock’s fifty day moving average price is $113.42 and its 200 day moving average price is $98.19. The stock has a market capitalization of $28.94 billion, a P/E ratio of -57.49 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 released its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. During the same period in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. Research analysts forecast that BioNTech SE will post -3.68 earnings per share 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.