BioNTech (NASDAQ:BNTX) Upgraded at Jefferies Financial Group

BioNTech (NASDAQ:BNTX) was upgraded by equities research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage presently has a $150.00 price objective on the stock, up from their prior price objective of $96.00. Jefferies Financial Group’s price objective points to a potential upside of 21.49% from the company’s previous close.

Several other research firms also recently commented on BNTX. HC Wainwright reissued a “buy” rating and issued a $113.00 price objective on shares of BioNTech in a report on Monday. Bank of America increased their price objective on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday. HSBC upgraded BioNTech from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. TD Cowen decreased their target price on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, BioNTech has a consensus rating of “Moderate Buy” and an average price target of $118.00.

BioNTech Stock Performance

BNTX stock opened at $123.47 on Tuesday. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. BioNTech has a twelve month low of $76.53 and a twelve month high of $129.38. The company has a market cap of $29.35 billion, a P/E ratio of 246.94 and a beta of 0.23. The business’s fifty day moving average is $88.13 and its 200-day moving average is $89.90.

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

Hedge Funds Weigh In On BioNTech

Several institutional investors and hedge funds have recently bought and sold shares of BNTX. Harding Loevner LP purchased a new stake in shares of BioNTech in the fourth quarter valued at $410,984,000. Candriam S.C.A. boosted its position in shares of BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after purchasing an additional 418,695 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of BioNTech by 283.5% during the second quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock valued at $37,103,000 after acquiring an additional 341,311 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of BioNTech by 2.8% in the fourth quarter. Primecap Management Co. CA now owns 4,763,453 shares of the company’s stock worth $502,735,000 after buying an additional 131,490 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in BioNTech by 610.5% during the 1st quarter. SG Americas Securities LLC now owns 70,143 shares of the company’s stock worth $6,471,000 after acquiring an additional 60,270 shares during the period. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.