Berenberg Bank Cuts BioNTech (NASDAQ:BNTX) Price Target to $140.00

Key Points

• Berenberg Bank lowered its price target on BioNTech from $155 to $140 while keeping a buy rating, implying nearly 50% upside from the prior close.
• Other analysts remain generally positive on the stock, with a consensus rating of Moderate Buy and an average target price of $130.60.
• BioNTech recently authorized a $1 billion share repurchase program, even as the company continues to post losses and analysts expect negative EPS for the current year.

BioNTech (NASDAQ:BNTX - Get Free Report) had its price target decreased by Berenberg Bank from $155.00 to $140.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm currently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential upside of 49.97% from the stock's previous close.

Other analysts have also issued reports about the stock. Bank of America restated a "buy" rating and set a $128.00 price objective on shares of BioNTech in a research note on Tuesday, March 10th. Canaccord Genuity Group dropped their target price on shares of BioNTech from $171.00 to $158.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Wells Fargo & Company reduced their price target on shares of BioNTech from $150.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of BioNTech in a report on Tuesday, March 17th. Finally, Truist Financial raised BioNTech to a "strong-buy" rating in a research report on Wednesday, March 25th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, BioNTech presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.60.

BioNTech Stock Up 0.0%

BNTX stock traded up $0.02 on Tuesday, reaching $93.36. 78,416 shares of the company traded hands, compared to its average volume of 1,078,223. The firm has a fifty day simple moving average of $95.96 and a 200-day simple moving average of $100.71. The company has a market cap of $23.61 billion, a P/E ratio of -15.88 and a beta of 1.36. BioNTech has a one year low of $79.52 and a one year high of $124.00. The company has a debt-to-equity ratio of 0.01, a current ratio of 8.80 and a quick ratio of 8.74.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its earnings results on Saturday, February 14th. The company reported ($0.39) EPS for the quarter. The company had revenue of $1.06 billion during the quarter. BioNTech had a negative return on equity of 5.30% and a negative net margin of 44.39%. Research analysts anticipate that BioNTech will post -4.71 earnings per share for the current year.

BioNTech declared that its board has authorized a stock repurchase plan on Thursday, May 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at BioNTech

In related news, COO Sierk Poetting sold 50,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $110.56, for a total value of $5,528,000.00. Following the sale, the chief operating officer owned 399,387 shares in the company, valued at approximately $44,156,226.72. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On BioNTech

Several hedge funds and other institutional investors have recently modified their holdings of BNTX. Larson Financial Group LLC lifted its holdings in BioNTech by 86.4% in the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company's stock valued at $26,000 after acquiring an additional 127 shares during the period. EFG International AG bought a new stake in shares of BioNTech during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of BioNTech by 520.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company's stock valued at $30,000 after purchasing an additional 260 shares during the last quarter. Huntington National Bank increased its position in shares of BioNTech by 1,266.7% during the 3rd quarter. Huntington National Bank now owns 410 shares of the company's stock valued at $40,000 after purchasing an additional 380 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of BioNTech by 118.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 563 shares of the company's stock worth $60,000 after purchasing an additional 305 shares during the period. 15.52% of the stock is owned by institutional investors.

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.

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