Morgan Stanley Forecasts Strong Price Appreciation for BioNTech (NASDAQ:BNTX) Stock

BioNTech (NASDAQ:BNTX) had its price objective lifted by Morgan Stanley from $125.00 to $126.00 in a report issued on Friday, Marketbeat reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 31.94% from the company’s previous close.

A number of other research analysts also recently issued reports on BNTX. Berenberg Bank reiterated a “buy” rating on shares of BioNTech in a research report on Friday, January 23rd. HC Wainwright dropped their target price on shares of BioNTech from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Jefferies Financial Group reiterated a “buy” rating on shares of BioNTech in a research report on Wednesday, March 25th. Citigroup dropped their target price on shares of BioNTech from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $171.00 price objective on shares of BioNTech in a report on Wednesday, March 11th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $133.13.

BioNTech Stock Up 3.8%

BioNTech stock opened at $95.50 on Friday. The company has a quick ratio of 7.49, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. BioNTech has a 12-month low of $79.52 and a 12-month high of $124.00. The firm’s fifty day moving average is $98.81 and its 200 day moving average is $101.04. The company has a market capitalization of $24.00 billion, a PE ratio of -18.23 and a beta of 1.58.

BioNTech (NASDAQ:BNTX) last released its earnings results on Saturday, February 14th. The company reported ($0.39) earnings per share (EPS) for the quarter. BioNTech had a negative net margin of 38.09% and a negative return on equity of 4.76%. The company had revenue of $1.06 billion for the quarter. As a group, sell-side analysts predict that BioNTech will post -3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BNTX. Dodge & Cox raised its holdings in BioNTech by 315.7% during the third quarter. Dodge & Cox now owns 3,647,091 shares of the company’s stock worth $359,676,000 after buying an additional 2,769,654 shares during the last quarter. GSK plc acquired a new position in BioNTech during the fourth quarter worth $84,711,000. BNP Paribas Financial Markets raised its holdings in BioNTech by 43.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,578,094 shares of the company’s stock worth $150,235,000 after buying an additional 474,796 shares during the last quarter. Bank of America Corp DE raised its holdings in BioNTech by 344.4% during the third quarter. Bank of America Corp DE now owns 573,356 shares of the company’s stock worth $56,544,000 after buying an additional 444,332 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of BioNTech in the fourth quarter valued at about $41,656,000. Institutional investors and hedge funds 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.