BioNTech (NASDAQ:BNTX) Stock Price Up 2.9% – Time to Buy?

BioNTech SE (NASDAQ:BNTX)’s share price rose 2.9% during mid-day trading on Tuesday . The stock traded as high as $117.98 and last traded at $117.49. Approximately 136,530 shares changed hands during trading, a decline of 83% from the average daily volume of 806,539 shares. The stock had previously closed at $114.22.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BNTX shares. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $93.00 to $145.00 in a report on Tuesday, September 24th. Wells Fargo & Company began coverage on shares of BioNTech in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $170.00 price objective for the company. UBS Group increased their target price on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Canaccord Genuity Group boosted their price target on BioNTech from $171.00 to $171.44 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, TD Cowen dropped their price objective on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, BioNTech currently has an average rating of “Moderate Buy” and an average price target of $140.76.

BioNTech Price Performance

The stock has a 50 day moving average of $113.54 and a 200-day moving average of $100.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. The company has a market cap of $26.47 billion, a PE ratio of -53.02 and a beta of 0.22.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.26) by $2.07. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period last year, the business posted $0.73 earnings per share. Equities analysts predict that BioNTech SE will post -3.72 earnings per share for the current year.

Institutional Trading of BioNTech

A number of hedge funds and other institutional investors have recently made changes to their positions in BNTX. Exome Asset Management LLC purchased a new position in BioNTech during the third quarter valued at approximately $4,104,000. Vestcor Inc purchased a new position in shares of BioNTech during the 3rd quarter valued at approximately $784,000. Y Intercept Hong Kong Ltd acquired a new position in shares of BioNTech in the 3rd quarter valued at $718,000. XTX Topco Ltd purchased a new stake in BioNTech during the third quarter worth $459,000. Finally, State Street Corp grew its position in BioNTech by 2.0% during the third quarter. State Street Corp now owns 155,867 shares of the company’s stock valued at $18,512,000 after buying an additional 3,014 shares during the period. Institutional investors and hedge funds 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.