BioNTech (NASDAQ:BNTX) Price Target Raised to $134.00

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 increased by investment analysts at Bank of America from $126.00 to $134.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target suggests a potential upside of 20.01% from the company's previous close.

Other equities analysts also recently issued research reports about the company. Morgan Stanley lifted their price target on BioNTech from $132.00 to $133.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. HC Wainwright reissued a "buy" rating and set a $138.00 target price on shares of BioNTech in a research report on Wednesday, June 25th. JPMorgan Chase & Co. dropped their target price on shares of BioNTech from $120.00 to $116.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Wall Street Zen raised shares of BioNTech from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, The Goldman Sachs Group began coverage on shares of BioNTech in a research report on Thursday, May 29th. They set a "neutral" rating and a $110.00 target price on the stock. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $135.91.

BioNTech Stock Up 0.3%

BNTX stock traded up $0.31 during mid-day trading on Tuesday, reaching $111.66. 530,256 shares of the company traded hands, compared to its average volume of 709,340. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of -69.79 and a beta of 1.23. The company has a quick ratio of 10.02, a current ratio of 8.61 and a debt-to-equity ratio of 0.01. BioNTech has a fifty-two week low of $79.14 and a fifty-two week high of $131.49. The firm's 50 day moving average price is $109.40 and its 200 day moving average price is $106.13.

BioNTech (NASDAQ:BNTX - Get Free Report) last released 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). The company had revenue of $306.46 million for the quarter, compared to analyst estimates of $161.26 million. BioNTech had a negative net margin of 12.20% and a negative return on equity of 1.84%. BioNTech's revenue for the quarter was up 102.6% on a year-over-year basis. During the same quarter last year, the firm posted ($3.36) EPS. As a group, equities research analysts predict that BioNTech will post -3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Banque Cantonale Vaudoise purchased a new position in BioNTech in the first quarter worth $36,000. LRI Investments LLC grew its position in BioNTech by 234.6% in the second quarter. LRI Investments LLC now owns 445 shares of the company's stock worth $47,000 after acquiring an additional 312 shares in the last quarter. Hantz Financial Services Inc. grew its position in BioNTech by 472.0% in the second quarter. Hantz Financial Services Inc. now owns 572 shares of the company's stock worth $61,000 after acquiring an additional 472 shares in the last quarter. Banque Transatlantique SA purchased a new position in BioNTech in the first quarter worth $80,000. Finally, Costello Asset Management INC purchased a new position in BioNTech in the first quarter worth $91,000. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.