BioNTech (NASDAQ:BNTX) Trading Up 1.3% – Here’s Why

BioNTech SE (NASDAQ:BNTX)’s share price was up 1.3% during trading on Thursday . The stock traded as high as $103.98 and last traded at $103.46. Approximately 167,580 shares were traded during trading, a decline of 79% from the average daily volume of 807,735 shares. The stock had previously closed at $102.14.

Wall Street Analysts Forecast Growth

Several analysts have commented on BNTX shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of BioNTech from $95.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. dropped their target price on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Canaccord Genuity Group reiterated a “buy” rating and set a $171.00 target price on shares of BioNTech in a research report on Thursday, November 14th. TD Cowen dropped their target price on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $110.00 to $125.00 in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.79.

BioNTech Stock Performance

The stock’s 50 day moving average price is $113.74 and its 200 day moving average price is $97.49. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $25.56 billion, a price-to-earnings ratio of -49.27 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $514.08 million. During the same period in the prior year, the business posted $0.73 EPS. The company’s quarterly revenue was up 38.9% on a year-over-year basis. Analysts expect that BioNTech SE will post -3.68 earnings per share for the current year.

Hedge Funds Weigh In On BioNTech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new position in shares of BioNTech during the 1st quarter worth approximately $314,000. Covestor Ltd lifted its holdings in BioNTech by 47.2% during the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock valued at $38,000 after purchasing an additional 133 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in BioNTech by 79.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 3,426 shares of the company’s stock valued at $316,000 after purchasing an additional 1,518 shares during the last quarter. Crewe Advisors LLC acquired a new stake in BioNTech during the 1st quarter valued at $75,000. Finally, Capital Group Investment Management PTE. LTD. lifted its holdings in BioNTech by 9.8% during the 1st quarter. Capital Group Investment Management PTE. LTD. now owns 4,697 shares of the company’s stock valued at $433,000 after purchasing an additional 420 shares during the last quarter. Institutional investors 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.