BioNTech (NASDAQ:BNTX) Stock Price Up 2.7% – Should You Buy?

BioNTech SE (NASDAQ:BNTX)’s stock price shot up 2.7% during trading on Wednesday . The stock traded as high as $121.88 and last traded at $119.98. 252,556 shares were traded during mid-day trading, a decline of 69% from the average session volume of 807,887 shares. The stock had previously closed at $116.85.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BNTX shares. The Goldman Sachs Group upgraded BioNTech from a “neutral” rating to a “buy” rating and upped their target price for the company from $90.00 to $137.00 in a report on Friday, November 8th. Bank of America raised their price objective 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. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $93.00 to $145.00 in a report on Tuesday, September 24th. HC Wainwright restated a “buy” rating and set a $150.00 price target on shares of BioNTech in a report on Monday, November 18th. Finally, TD Cowen decreased their price objective on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a report on Tuesday, November 5th. 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 stock. According to data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.76.

BioNTech Price Performance

The company has a market capitalization of $28.77 billion, a PE ratio of -57.13 and a beta of 0.22. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock’s 50 day simple moving average is $113.89 and its 200-day simple moving average is $99.89.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of ($1.26) by $2.07. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. As a group, equities analysts forecast that BioNTech SE will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioNTech

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Planning Capital Management Corp raised its holdings in BioNTech by 45,000.0% in the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after acquiring an additional 450 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after purchasing an additional 388 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of BioNTech by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after purchasing an additional 111 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of BioNTech by 430.3% during the second quarter. Daiwa Securities Group Inc. now owns 1,925 shares of the company’s stock worth $155,000 after purchasing an additional 1,562 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in BioNTech in the second quarter valued at $206,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.