BioNTech (NASDAQ:BNTX) Shares Gap Up - Time to Buy?

Shares of BioNTech SE (NASDAQ:BNTX - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $102.02, but opened at $107.64. BioNTech shares last traded at $106.94, with a volume of 286,453 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on BNTX shares. Morgan Stanley decreased their price target on BioNTech from $145.00 to $139.00 and set an "overweight" rating for the company in a research note on Tuesday, March 11th. Truist Financial began coverage on shares of BioNTech in a research report on Friday, January 10th. They issued a "buy" rating and a $172.00 price objective for the company. HC Wainwright dropped their target price on shares of BioNTech from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. BMO Capital Markets upped their price target on shares of BioNTech from $130.00 to $143.00 and gave the company an "outperform" rating in a research note on Tuesday, March 11th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a research note on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $143.44.

BioNTech Price Performance

The company has a market capitalization of $24.58 billion, a PE ratio of -48.78 and a beta of 1.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The company's 50 day simple moving average is $100.53 and its 200 day simple moving average is $110.22.

BioNTech (NASDAQ:BNTX - Get Free Report) last released its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.70. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. BioNTech's revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts predict that BioNTech SE will post -3.88 earnings per share for the current year.

Institutional Investors Weigh In On BioNTech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Exome Asset Management LLC purchased a new stake in BioNTech in the third quarter valued at approximately $4,104,000. GAMMA Investing LLC grew its stake in BioNTech by 48.2% during the 4th quarter. GAMMA Investing LLC now owns 923 shares of the company's stock valued at $105,000 after purchasing an additional 300 shares in the last quarter. Retireful LLC bought a new stake in shares of BioNTech in the fourth quarter worth $260,000. Atomi Financial Group Inc. increased its position in shares of BioNTech by 6.7% in the 4th quarter. Atomi Financial Group Inc. now owns 3,635 shares of the company's stock worth $414,000 after purchasing an additional 229 shares during the last quarter. Finally, Mirabaud & Cie SA acquired a new stake in BioNTech during the fourth quarter valued at approximately $684,000. Institutional investors and hedge funds own 15.52% of the company's stock.

About BioNTech

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.