Sanford C. Bernstein upgraded shares of BioNTech (NASDAQ:BNTX – Free Report) to a hold rating in a report released on Thursday morning,Zacks.com reports.
A number of other analysts also recently commented on the company. Wells Fargo & Company decreased their target price on BioNTech from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Citigroup dropped their target price on shares of BioNTech from $145.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioNTech in a research note on Wednesday, April 8th. Leerink Partners cut BioNTech from an “outperform” rating to a “market perform” rating and set a $113.00 price target for the company. in a report on Monday, February 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $130.00 price objective on shares of BioNTech in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.44.
Check Out Our Latest Research Report on BNTX
BioNTech Stock Up 1.3%
BioNTech (NASDAQ:BNTX – Get Free Report) last issued its earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share (EPS) for the quarter. The company had revenue of $1.06 billion during the quarter. BioNTech had a negative net margin of 44.39% and a negative return on equity of 5.30%. On average, research analysts expect that BioNTech will post -4.71 earnings per share for the current fiscal year.
BioNTech announced that its Board of Directors has initiated a share buyback program on Thursday, May 7th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Insider Buying and Selling
In related news, COO Sierk Poetting sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $110.56, for a total value of $5,528,000.00. Following the transaction, the chief operating officer owned 399,387 shares in the company, valued at approximately $44,156,226.72. This trade represents a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.20% of the company’s stock.
Institutional Investors Weigh In On BioNTech
Large investors have recently made changes to their positions in the business. Royal Bank of Canada lifted its holdings in shares of BioNTech by 95.9% during the 1st quarter. Royal Bank of Canada now owns 7,177 shares of the company’s stock valued at $653,000 after acquiring an additional 3,514 shares in the last quarter. NewEdge Advisors LLC acquired a new stake in BioNTech in the 1st quarter valued at $167,000. Russell Investments Group Ltd. raised its position in BioNTech by 368,800.0% in the second quarter. Russell Investments Group Ltd. now owns 11,067 shares of the company’s stock valued at $1,178,000 after purchasing an additional 11,064 shares during the period. Natixis acquired a new position in shares of BioNTech during the second quarter worth about $985,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of BioNTech by 2.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 492,045 shares of the company’s stock worth $52,416,000 after purchasing an additional 13,788 shares in the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.
BioNTech Company Profile
BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.
BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.
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