Truist Financial Upgrades BioNTech (NASDAQ:BNTX) to “Strong-Buy”

BioNTech (NASDAQ:BNTX) was upgraded by Truist Financial to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating on shares of BioNTech in a research note on Wednesday, March 11th. BMO Capital Markets decreased their target price on shares of BioNTech from $143.00 to $128.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. TD Cowen dropped their price target on shares of BioNTech from $116.00 to $94.00 and set a “hold” rating for the company in a research note on Wednesday, March 11th. Raymond James Financial restated an “outperform” rating on shares of BioNTech in a report on Tuesday, March 10th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioNTech in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, BioNTech has an average rating of “Moderate Buy” and an average target price of $133.73.

BioNTech Stock Down 1.5%

NASDAQ BNTX opened at $87.46 on Wednesday. BioNTech has a 52 week low of $79.52 and a 52 week high of $124.00. The company has a quick ratio of 7.49, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $104.17 and its 200-day simple moving average is $101.72. The firm has a market cap of $20.99 billion, a PE ratio of -16.69 and a beta of 1.51.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BNTX. Kennedy Capital Management LLC raised its position in BioNTech by 0.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 16,422 shares of the company’s stock valued at $1,748,000 after purchasing an additional 127 shares in the last quarter. Larson Financial Group LLC grew its position in shares of BioNTech by 86.4% during the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock worth $26,000 after buying an additional 127 shares in the last quarter. Probity Advisors Inc. grew its position in shares of BioNTech by 5.7% during the third quarter. Probity Advisors Inc. now owns 2,506 shares of the company’s stock worth $247,000 after buying an additional 135 shares in the last quarter. Mackenzie Financial Corp increased its stake in shares of BioNTech by 4.0% during the third quarter. Mackenzie Financial Corp now owns 4,290 shares of the company’s stock worth $418,000 after buying an additional 165 shares during the period. Finally, GAMMA Investing LLC raised its holdings in BioNTech by 40.8% in the third quarter. GAMMA Investing LLC now owns 784 shares of the company’s stock valued at $77,000 after acquiring an additional 227 shares in the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

About BioNTech

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.