BioNTech (NASDAQ:BNTX – Free Report) had its price target decreased by Morgan Stanley from $114.00 to $106.00 in a research report released on Wednesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.
Several other equities analysts also recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNTech in a report on Friday, October 2nd. Argus started coverage on shares of BioNTech in a research note on Thursday, October 8th. They set a “hold” rating for the company. Bank of America reaffirmed a “buy” rating on shares of BioNTech in a report on Wednesday. Citigroup decreased their price target on shares of BioNTech from $130.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Finally, UBS Group reissued a “buy” rating on shares of BioNTech in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $123.60.
Check Out Our Latest Stock Analysis on BioNTech
BioNTech Stock Performance
Shares of BNTX stock traded up $1.65 during trading on Wednesday, reaching $87.51. 724,157 shares of the company’s stock were exchanged, compared to its average volume of 1,124,157. The company has a quick ratio of 7.80, a current ratio of 7.85 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $22.13 billion, a PE ratio of -12.78 and a beta of 1.28. BioNTech has a twelve month low of $79.52 and a twelve month high of $124.00. The firm’s fifty day moving average price is $94.66 and its 200-day moving average price is $96.70.
BioNTech (NASDAQ:BNTX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.13). BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The business had revenue of $122.31 million for the quarter, compared to analyst estimates of $180.18 million. During the same period in the prior year, the business earned ($1.60) EPS. The company’s revenue for the quarter was down 59.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that BioNTech will post -6.38 EPS for the current year.
Insider Buying and Selling
In other news, CEO Ugur Sahin sold 72,000 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $97.23, for a total value of $7,000,560.00. Following the completion of the transaction, the chief executive officer directly owned 108,209 shares in the company, valued at approximately $10,521,161.07. The trade was a 39.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 807,209 shares of company stock valued at $79,246,837 over the last three months. 19.20% of the stock is owned by insiders.
Institutional Investors Weigh In On BioNTech
Several hedge funds have recently modified their holdings of BNTX. Candriam S.C.A. increased its stake in shares of BioNTech by 4.7% in the third quarter. Candriam S.C.A. now owns 520,972 shares of the company’s stock valued at $51,399,000 after buying an additional 23,442 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of BioNTech by 11.2% in the third quarter. Pictet Asset Management Holding SA now owns 206,580 shares of the company’s stock worth $20,363,000 after purchasing an additional 20,777 shares during the last quarter. AlphaCentric Advisors LLC grew its stake in shares of BioNTech by 4.5% in the third quarter. AlphaCentric Advisors LLC now owns 6,547 shares of the company’s stock worth $644,000 after purchasing an additional 281 shares during the last quarter. Parallel Advisors LLC increased its holdings in BioNTech by 50.3% in the third quarter. Parallel Advisors LLC now owns 843 shares of the company’s stock valued at $83,000 after purchasing an additional 282 shares during the period. Finally, Privium Fund Management B.V. increased its holdings in BioNTech by 6.6% in the third quarter. Privium Fund Management B.V. now owns 32,100 shares of the company’s stock valued at $3,155,000 after purchasing an additional 2,000 shares during the period. Institutional investors and hedge funds own 15.52% of the company’s stock.
About BioNTech
BioNTech SE is a biotechnology company based in Mainz, Germany. Founded in 2008, it develops medicines and vaccines, with a focus on immunotherapies for cancer and infectious diseases.
The company’s research uses technologies including messenger RNA (mRNA), antibodies, and cell-based therapies. Its best-known product is Comirnaty, an mRNA vaccine against COVID-19 developed and commercialized in partnership with Pfizer. BioNTech also has a broad oncology research and development portfolio.
BioNTech works with partners to develop and distribute products internationally.
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