BioNTech (NASDAQ:BNTX) Earns Buy Rating from Jefferies Financial Group

Key Points

• Jefferies Financial Group reaffirmed its buy rating on BioNTech shares, while the broader analyst community remains positive with a Moderate Buy consensus and an average price target of $129.56.
• BioNTech stock fell 3.9% to $92.24 on Monday, trading below both its 50-day and 200-day moving averages. The company’s market cap is about $23.32 billion.
• The company recently authorized a $1 billion share buyback, covering up to 4.2% of outstanding shares, which is often viewed as a sign management believes the stock may be undervalued.

BioNTech (NASDAQ:BNTX - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Jefferies Financial Group in a note issued to investors on Monday,MarketScreener reports.

Other equities research analysts also recently issued research reports about the stock. Berenberg Bank dropped their price target on shares of BioNTech from $155.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. HC Wainwright restated a "buy" rating and set a $130.00 target price on shares of BioNTech in a research note on Monday, April 27th. Canaccord Genuity Group dropped their target price on BioNTech from $171.00 to $158.00 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of BioNTech in a report on Tuesday, March 17th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of BioNTech in a research note on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $129.56.

BioNTech Stock Down 3.9%

NASDAQ BNTX traded down $3.72 on Monday, reaching $92.24. The company had a trading volume of 243,439 shares, compared to its average volume of 1,057,374. 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 has a 1 year low of $79.52 and a 1 year high of $124.00. The firm has a 50-day moving average of $94.46 and a 200-day moving average of $99.45. The firm has a market capitalization of $23.32 billion, a PE ratio of -15.68 and a beta of 1.33.

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

BioNTech announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Activity at BioNTech

In other news, COO Sierk Poetting sold 50,000 shares of BioNTech stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $110.56, for a total value of $5,528,000.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 19.20% of the company's stock.

Hedge Funds Weigh In On BioNTech

Large investors have recently added to or reduced their stakes in the company. Long Focus Capital Management LLC boosted its position in BioNTech by 91.3% during the 3rd quarter. Long Focus Capital Management LLC now owns 397,655 shares of the company's stock valued at $39,217,000 after purchasing an additional 189,752 shares during the period. Hudson Bay Capital Management LP increased its position in BioNTech by 36.7% in the third quarter. Hudson Bay Capital Management LP now owns 205,004 shares of the company's stock worth $20,217,000 after buying an additional 55,004 shares during the period. LBP AM SA increased its position in BioNTech by 4.3% in the fourth quarter. LBP AM SA now owns 368,584 shares of the company's stock worth $35,089,000 after buying an additional 15,255 shares during the period. Pictet Asset Management Holding SA lifted its stake in BioNTech by 41.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 88,838 shares of the company's stock valued at $8,457,000 after buying an additional 26,119 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of BioNTech by 97.0% during the third quarter. Victory Capital Management Inc. now owns 413,685 shares of the company's stock valued at $37,531,000 after acquiring an additional 203,700 shares during the period. 15.52% of the stock is currently 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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