BioNTech (NASDAQ:BNTX) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its target price for BioNTech from $126.00 to $134.00, indicating a potential upside of 21.48% from the current stock price.
• BioNTech currently holds a consensus rating of "Moderate Buy" from analysts, with five analysts rating it as a hold and thirteen as a buy.
• Despite a reported loss of ($1.60) earnings per share in its latest quarter, revenue increased significantly by 102.6% compared to the same quarter last year, reaching $306.46 million.

BioNTech (NASDAQ:BNTX - Get Free Report) had its target price hoisted by equities research analysts at Bank of America from $126.00 to $134.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's target price suggests a potential upside of 21.48% from the stock's current price.

A number of other equities research analysts have also weighed in on BNTX. Leerink Partners set a $112.00 price target on BioNTech in a research note on Monday, June 2nd. HC Wainwright restated a "buy" rating and set a $138.00 price target on shares of BioNTech in a research note on Wednesday, June 25th. Morgan Stanley boosted their price target on BioNTech from $132.00 to $133.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. dropped their price target on BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Citigroup restated a "buy" rating and set a $140.00 price target (down previously from $145.00) on shares of BioNTech in a research note on Tuesday, May 6th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $135.91.

BioNTech Stock Performance

BioNTech stock traded up $0.28 during midday trading on Tuesday, hitting $110.31. The stock had a trading volume of 176,180 shares, compared to its average volume of 946,804. The company has a current ratio of 10.18, a quick ratio of 10.02 and a debt-to-equity ratio of 0.01. BioNTech has a 52-week low of $76.84 and a 52-week high of $131.49. The firm's fifty day moving average is $108.34 and its two-hundred day moving average is $106.16. The company has a market capitalization of $26.52 billion, a PE ratio of -32.45 and a beta of 1.23.

BioNTech (NASDAQ:BNTX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.41) by ($0.19). BioNTech had a negative return on equity of 3.94% and a negative net margin of 27.37%. The company had revenue of $306.46 million during the quarter, compared to the consensus estimate of $161.26 million. During the same quarter in the prior year, the business earned ($3.36) earnings per share. The firm's quarterly revenue was up 102.6% compared to the same quarter last year. On average, research analysts forecast that BioNTech will post -3.88 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in BioNTech during the 1st quarter worth approximately $36,000. LRI Investments LLC grew its stake in shares of BioNTech by 234.6% in the 2nd quarter. LRI Investments LLC now owns 445 shares of the company's stock valued at $47,000 after purchasing an additional 312 shares during the last quarter. Hantz Financial Services Inc. grew its stake in shares of BioNTech by 472.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 572 shares of the company's stock valued at $61,000 after purchasing an additional 472 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of BioNTech in the 1st quarter valued at approximately $80,000. Finally, Costello Asset Management INC purchased a new position in shares of BioNTech in the 1st quarter valued at approximately $91,000. Hedge funds and other institutional investors own 15.52% of the company's stock.

BioNTech Company Profile

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.

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