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

Shares of BioNTech SE (NASDAQ:BNTX) shot 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 changed hands during trading, a decline of 26% from the average session volume of 817,167 shares. The stock had previously closed at $118.54.

Several other equities research analysts have also recently weighed in on BNTX. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $150.00 price target on shares of BioNTech in a research report on Monday, November 18th. JPMorgan Chase & Co. dropped their target price on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group raised their target price on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. Finally, Bank of America raised their target price on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

Institutional Trading of BioNTech

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co grew its position in BioNTech by 79.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 3,426 shares of the company’s stock valued at $316,000 after buying an additional 1,518 shares during the period. Tidal Investments LLC purchased a new position in BioNTech during the first quarter valued at approximately $703,000. EverSource Wealth Advisors LLC lifted its holdings in BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares in the last quarter. GAMMA Investing LLC lifted its holdings in BioNTech by 86.9% during the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock valued at $41,000 after purchasing an additional 238 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in BioNTech during the second quarter valued at approximately $1,483,000. 15.52% of the stock is currently owned by institutional investors.

BioNTech Price Performance

The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.94 billion, a PE ratio of -57.49 and a beta of 0.26. The firm’s fifty day simple moving average is $113.42 and its two-hundred day simple moving average is $98.19.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, research analysts expect that BioNTech SE will post -3.68 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.