Bank of America Has Lowered Expectations for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX) had its price target lowered by equities researchers at Bank of America from $127.00 to $126.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 13.47% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $155.00 price objective (up previously from $151.00) on shares of BioNTech in a research report on Tuesday, June 3rd. The Goldman Sachs Group initiated coverage on BioNTech in a research report on Thursday, May 29th. They issued a “neutral” rating and a $110.00 price objective on the stock. Wall Street Zen raised BioNTech from a “sell” rating to a “hold” rating in a research report on Saturday, June 7th. Leerink Partners set a $112.00 price target on BioNTech in a research report on Monday, June 2nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $138.00 price target on shares of BioNTech in a research report on Wednesday, June 25th. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.58.

BioNTech Trading Down 1.3%

Shares of BioNTech stock opened at $111.04 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 10.02 and a current ratio of 10.18. BioNTech has a 52 week low of $76.53 and a 52 week high of $131.49. The stock has a 50 day moving average price of $104.79 and a two-hundred day moving average price of $106.79. The stock has a market capitalization of $26.69 billion, a PE ratio of -32.66 and a beta of 1.29.

Institutional Investors Weigh In On BioNTech

Hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of BioNTech by 4.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,677 shares of the company’s stock worth $419,000 after acquiring an additional 150 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in BioNTech by 39.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 187,355 shares of the company’s stock valued at $21,349,000 after buying an additional 53,319 shares in the last quarter. Raymond James Financial Inc. purchased a new position in BioNTech in the 4th quarter valued at about $584,000. OneDigital Investment Advisors LLC purchased a new position in BioNTech in the 1st quarter valued at about $288,000. Finally, GAMMA Investing LLC lifted its stake in BioNTech by 5,710.8% in the 1st quarter. GAMMA Investing LLC now owns 53,634 shares of the company’s stock valued at $4,884,000 after buying an additional 52,711 shares in the last quarter. 15.52% of the stock is owned by hedge funds and other 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.