JPMorgan Chase & Co. Lowers BioNTech (NASDAQ:BNTX) Price Target to $122.00

BioNTech (NASDAQ:BNTX) had its target price decreased by JPMorgan Chase & Co. from $124.00 to $122.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts also recently issued research reports about the stock. TD Cowen reduced their price objective 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. UBS Group raised their price objective on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $137.00 in a research 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. Finally, HSBC raised their price objective on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, BioNTech has an average rating of “Moderate Buy” and a consensus price target of $138.67.

BioNTech Stock Down 1.9 %

BioNTech stock opened at $118.39 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. BioNTech has a 52-week low of $76.53 and a 52-week high of $131.49. The firm has a 50 day moving average price of $113.69 and a two-hundred day moving average price of $98.50. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of -56.38 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last announced 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. The company had revenue of $1.24 billion during 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 company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.73 EPS. Equities analysts predict that BioNTech will post -3.68 EPS for the current year.

Institutional Investors Weigh In On BioNTech

A number of hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. raised its stake in BioNTech by 0.4% in the 3rd quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock valued at $986,750,000 after acquiring an additional 31,773 shares during the period. FMR LLC raised its stake in BioNTech by 797.8% in the 3rd quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after acquiring an additional 5,598,190 shares during the period. Deerfield Management Company L.P. Series C raised its stake in BioNTech by 4.3% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock valued at $47,734,000 after acquiring an additional 24,426 shares during the period. Candriam S.C.A. raised its stake in BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after acquiring an additional 418,695 shares during the period. Finally, Fred Alger Management LLC bought a new stake in BioNTech in the 3rd quarter valued at about $59,485,000. 15.52% of the stock is currently owned by institutional investors.

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.