BioNTech (NASDAQ:BNTX) Coverage Initiated at Wells Fargo & Company

Stock analysts at Wells Fargo & Company assumed coverage on shares of BioNTech (NASDAQ:BNTX) in a report released on Wednesday, MarketBeat reports. The firm set an “overweight” rating and a $170.00 price target on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 40.86% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on BNTX. The Goldman Sachs Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $137.00 in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $150.00 price objective on shares of BioNTech in a research report on Monday, November 18th. Berenberg Bank began coverage on BioNTech in a report on Tuesday, November 19th. They issued a “buy” rating and a $130.00 target price on the stock. Evercore ISI upgraded BioNTech from an “in-line” rating to an “outperform” rating and raised their price target for the company from $110.00 to $125.00 in a report on Tuesday, November 19th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of BioNTech in a report on Monday, December 2nd. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.76.

BioNTech Trading Up 1.1 %

NASDAQ:BNTX opened at $120.69 on Wednesday. The company has a 50-day moving average price of $113.91 and a 200-day moving average price of $100.17. The stock has a market cap of $28.93 billion, a price-to-earnings ratio of -57.47 and a beta of 0.22. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. BioNTech has a 12 month low of $76.53 and a 12 month high of $131.49.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping the consensus estimate of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $514.08 million. During the same period last year, the business posted $0.73 earnings per share. BioNTech’s quarterly revenue was up 38.9% compared to the same quarter last year. Equities analysts predict that BioNTech will post -3.72 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. Candriam S.C.A. raised its stake in shares of BioNTech by 261.2% in the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after buying an additional 418,695 shares during the period. Fred Alger Management LLC purchased a new position in BioNTech during the third quarter valued at approximately $59,485,000. Baillie Gifford & Co. boosted its position in shares of BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after purchasing an additional 31,773 shares during the period. China Universal Asset Management Co. Ltd. raised its position in shares of BioNTech by 63.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 18,939 shares of the company’s stock valued at $2,249,000 after purchasing an additional 7,340 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in BioNTech by 123.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 134,036 shares of the company’s stock worth $15,919,000 after buying an additional 74,119 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.