Bank of America Raises BioNTech (NASDAQ:BNTX) Price Target to $150.00

BioNTech (NASDAQ:BNTX) had its price objective lifted by Bank of America from $125.00 to $150.00 in a research report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. HSBC upgraded BioNTech from a hold rating to a buy rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of BioNTech from a hold rating to a buy rating and set a $95.00 price objective on the stock in a research report on Wednesday, August 7th. HC Wainwright restated a buy rating and set a $113.00 price objective on shares of BioNTech in a research note on Monday. Jefferies Financial Group raised their price objective on BioNTech from $90.00 to $96.00 and gave the company a hold rating in a report on Friday, September 13th. Finally, Hsbc Global Res upgraded BioNTech from a hold rating to a strong-buy rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BioNTech has a consensus rating of Moderate Buy and an average price target of $120.31.

BioNTech Stock Performance

Shares of BNTX opened at $115.62 on Monday. The firm has a market cap of $27.49 billion, a P/E ratio of 231.24 and a beta of 0.23. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.40 and a current ratio of 7.54. The firm’s 50 day moving average price is $89.02 and its two-hundred day moving average price is $90.14.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, August 5th. The company reported ($3.36) EPS for the quarter, missing the consensus estimate of ($2.02) by ($1.34). The company had revenue of $128.70 million during the quarter, compared to the consensus estimate of $134.98 million. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The company’s revenue was down 23.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.86) earnings per share. On average, analysts forecast that BioNTech will post -2.8 EPS for the current fiscal year.

Institutional Trading of BioNTech

Several hedge funds and other institutional investors have recently modified their holdings of BNTX. Jump Financial LLC bought a new stake in BioNTech in the 4th quarter valued at $268,000. Quadrant Capital Group LLC acquired a new stake in BioNTech in the 4th quarter worth about $85,000. Dynamic Technology Lab Private Ltd raised its stake in BioNTech by 2.5% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 4,666 shares of the company’s stock worth $492,000 after purchasing an additional 116 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in BioNTech by 207.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,583 shares of the company’s stock valued at $273,000 after purchasing an additional 1,743 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of BioNTech by 6.8% during the fourth quarter. Wells Fargo & Company MN now owns 82,171 shares of the company’s stock worth $8,672,000 after purchasing an additional 5,227 shares during the period. Institutional investors own 15.52% of the company’s stock.

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.