Wells Fargo & Company Initiates Coverage on BioNTech (NASDAQ:BNTX)

Equities researchers at Wells Fargo & Company started coverage on shares of BioNTech (NASDAQ:BNTX - Get Free Report) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set an "overweight" rating and a $170.00 price target on the stock. Wells Fargo & Company's price target would indicate a potential upside of 42.45% from the company's previous close.

A number of other research analysts also recently issued reports on BNTX. Deutsche Bank Aktiengesellschaft boosted their target price on shares of BioNTech from $95.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Morgan Stanley raised shares of BioNTech from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $93.00 to $145.00 in a research report on Tuesday, September 24th. Bank of America upped their price target on BioNTech from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Canaccord Genuity Group raised their price objective on BioNTech from $171.00 to $171.44 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Finally, The Goldman Sachs Group raised BioNTech from a "neutral" rating to a "buy" rating and upped their target price for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioNTech has an average rating of "Moderate Buy" and a consensus price target of $140.76.

BioNTech Trading Up 2.1 %

BNTX stock traded up $2.49 during midday trading on Wednesday, hitting $119.34. The stock had a trading volume of 656,613 shares, compared to its average volume of 809,896. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.61 billion, a P/E ratio of -57.13 and a beta of 0.22. The business has a fifty day moving average price of $113.89 and a two-hundred day moving average price of $99.89. BioNTech has a 1-year low of $76.53 and a 1-year high of $131.49.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of ($1.26) by $2.07. The company had revenue of $1.24 billion for 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 revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 EPS. On average, sell-side analysts predict that BioNTech will post -3.72 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 modified their holdings of the business. Vestcor Inc bought a new stake in BioNTech during the third quarter worth $784,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of BioNTech during the 3rd quarter valued at $718,000. XTX Topco Ltd bought a new stake in shares of BioNTech during the 3rd quarter worth $459,000. State Street Corp boosted its holdings in shares of BioNTech by 2.0% in the 3rd quarter. State Street Corp now owns 155,867 shares of the company's stock worth $18,512,000 after buying an additional 3,014 shares during the last quarter. Finally, Redmile Group LLC bought a new position in BioNTech during the third quarter valued at about $18,345,000. Hedge funds and other institutional investors own 15.52% of the company's stock.

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.