BioNTech (NASDAQ:BNTX) Sees Strong Trading Volume on Analyst Upgrade

Shares of BioNTech SE (NASDAQ:BNTX) saw an uptick in trading volume on Monday after Bank of America raised their price target on the stock from $125.00 to $150.00. Bank of America currently has a buy rating on the stock. 676,574 shares traded hands during trading, a decline of 9% from the previous session’s volume of 746,643 shares.The stock last traded at $123.20 and had previously closed at $123.40.

BNTX has been the topic of a number of other reports. TD Cowen lowered their target price on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. HSBC raised shares of BioNTech from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $113.00 price target on shares of BioNTech in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.85.

Hedge Funds Weigh In On BioNTech

Several hedge funds have recently bought and sold shares of the company. Candriam S.C.A. grew its position in BioNTech by 261.2% during 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 in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of BioNTech during the fourth quarter worth about $1,562,000. US Bancorp DE grew its holdings in shares of BioNTech by 420.7% during the fourth quarter. US Bancorp DE now owns 28,614 shares of the company’s stock worth $3,020,000 after purchasing an additional 23,119 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of BioNTech by 17.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 182,878 shares of the company’s stock worth $19,301,000 after purchasing an additional 26,777 shares during the last quarter. Finally, Harding Loevner LP purchased a new stake in BioNTech in the fourth quarter valued at approximately $410,984,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Trading Up 1.6 %

The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $29.79 billion, a P/E ratio of 243.38 and a beta of 0.23. The firm’s 50-day simple moving average is $87.28 and its 200-day simple moving average is $89.66.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, August 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). The company had revenue of $128.70 million for the quarter, compared to the consensus estimate of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The business’s revenue was down 23.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.86) earnings per share. Analysts anticipate that BioNTech SE will post -2.8 EPS for the current 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.