Bank of America Boosts BioNTech (NASDAQ:BNTX) Price Target to $134.00

BioNTech (NASDAQ:BNTX) had its price target increased by equities research analysts at Bank of America from $126.00 to $134.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 20.40% from the company’s previous close.

Several other brokerages have also issued reports on BNTX. Wall Street Zen raised BioNTech from a “sell” rating to a “hold” rating in a research report on Saturday, June 7th. HC Wainwright reaffirmed a “buy” rating and set a $138.00 target price on shares of BioNTech in a research report on Wednesday, June 25th. Wells Fargo & Company set a $150.00 target price on BioNTech and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group initiated coverage on BioNTech in a research report on Thursday, May 29th. They set a “neutral” rating and a $110.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their target price on BioNTech from $120.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.91.

BioNTech Price Performance

Shares of BNTX stock opened at $111.30 on Tuesday. BioNTech has a twelve month low of $78.39 and a twelve month high of $131.49. The stock has a market capitalization of $26.76 billion, a price-to-earnings ratio of -69.56 and a beta of 1.23. The stock has a fifty day simple moving average of $108.86 and a two-hundred day simple moving average of $106.23. The company has a current ratio of 8.61, a quick ratio of 10.02 and a debt-to-equity ratio of 0.01.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings results on Monday, August 4th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.19). The company had revenue of $306.46 million during the quarter, compared to the consensus estimate of $161.26 million. BioNTech had a negative return on equity of 1.84% and a negative net margin of 12.20%. The company’s revenue was up 102.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($3.36) earnings per share. On average, analysts predict that BioNTech will post -3.88 EPS for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Cantonale Vaudoise bought a new position in shares of BioNTech in the first quarter valued at approximately $36,000. LRI Investments LLC raised its stake in shares of BioNTech by 234.6% in the second quarter. LRI Investments LLC now owns 445 shares of the company’s stock valued at $47,000 after acquiring an additional 312 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of BioNTech by 472.0% in the second quarter. Hantz Financial Services Inc. now owns 572 shares of the company’s stock valued at $61,000 after acquiring an additional 472 shares during the last quarter. Banque Transatlantique SA bought a new position in BioNTech in the 1st quarter worth approximately $80,000. Finally, Costello Asset Management INC bought a new position in BioNTech in the 1st quarter worth approximately $91,000. 15.52% of the stock is owned by institutional investors and hedge funds.

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.