BioNTech (NASDAQ:BNTX) Shares Up 0.6% on Analyst Upgrade

BioNTech SE (NASDAQ:BNTX - Get Free Report) shot up 0.6% during trading on Wednesday 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 $119.27. 137,366 shares were traded during mid-day trading, a decline of 83% from the average session volume of 814,952 shares. The stock had previously closed at $118.54.

Several other research analysts have also recently commented on the stock. Berenberg Bank started coverage on shares of BioNTech in a report on Tuesday, November 19th. They issued a "buy" rating and a $130.00 target price for the company. JPMorgan Chase & Co. decreased their price objective on shares of BioNTech from $124.00 to $122.00 and set a "neutral" rating for the company in a research note on Tuesday. The Goldman Sachs Group upgraded shares of BioNTech from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. Jefferies Financial Group upgraded BioNTech from a "hold" rating to a "buy" rating and increased their target price for the company from $96.00 to $150.00 in a report on Tuesday, September 17th. Finally, Hsbc Global Res raised BioNTech from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $138.67.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its stake in shares of BioNTech by 79.6% in the 1st 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 in the last quarter. Tidal Investments LLC acquired a new stake in BioNTech in the first quarter valued at approximately $703,000. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 252 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of BioNTech by 86.9% during the 2nd 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. Finally, Granite Bay Wealth Management LLC bought a new position in shares of BioNTech during the 2nd quarter valued at $1,483,000. 15.52% of the stock is owned by institutional investors and hedge funds.

BioNTech Stock Performance

The firm has a market cap of $28.59 billion, a price-to-earnings ratio of -56.79 and a beta of 0.26. The firm's 50 day moving average is $113.54 and its 200-day moving average is $98.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33.

BioNTech (NASDAQ:BNTX - Get Free Report) last posted its 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. 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 business's revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. Sell-side analysts anticipate that BioNTech SE will post -3.68 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.