BioNTech (NASDAQ:BNTX) Upgraded to Strong-Buy at Truist Financial

Key Points

• Truist upgraded BioNTech to a "Strong-Buy" — Truist raised its rating on BioNTech in a research note issued Wednesday.
• Analyst consensus remains a Moderate Buy with a $133.73 average price target, based on 1 Strong Buy, 12 Buy, 4 Hold and 1 Sell ratings.
• Shares opened at $88.77 (50-day MA $104.54, 200-day MA $101.82) with a 52-week range of $79.52–$124.00 and a market cap of $21.3B; institutional ownership is about 15.52% with recent inflows from firms like RBC.

BioNTech (NASDAQ:BNTX - Get Free Report) was upgraded by equities research analysts at Truist Financial to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

BNTX has been the topic of several other reports. HC Wainwright reiterated a "buy" rating and set a $140.00 price objective on shares of BioNTech in a report on Thursday, December 11th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioNTech in a research report on Friday, January 9th. Raymond James Financial reaffirmed an "outperform" rating on shares of BioNTech in a research note on Tuesday, March 10th. Jefferies Financial Group reissued a "buy" rating on shares of BioNTech in a research note on Wednesday. Finally, Leerink Partners downgraded BioNTech from an "outperform" rating to a "market perform" rating and set a $113.00 price objective for the company. in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.73.

BioNTech Stock Performance

BioNTech stock opened at $88.77 on Wednesday. The stock has a fifty day moving average price of $104.54 and a 200 day moving average price of $101.82. The company has a current ratio of 7.54, a quick ratio of 7.49 and a debt-to-equity ratio of 0.01. BioNTech has a 52 week low of $79.52 and a 52 week high of $124.00. The firm has a market capitalization of $21.30 billion, a P/E ratio of -16.94 and a beta of 1.51.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in BioNTech by 95.9% during the first quarter. Royal Bank of Canada now owns 7,177 shares of the company's stock worth $653,000 after buying an additional 3,514 shares during the period. NewEdge Advisors LLC purchased a new position in shares of BioNTech in the 1st quarter valued at $167,000. PNC Financial Services Group Inc. lifted its holdings in shares of BioNTech by 80.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,746 shares of the company's stock valued at $186,000 after acquiring an additional 779 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of BioNTech by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 103,750 shares of the company's stock valued at $11,046,000 after acquiring an additional 2,402 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in BioNTech by 24.6% during the 2nd quarter. Legal & General Group Plc now owns 315,748 shares of the company's stock worth $33,626,000 after purchasing an additional 62,288 shares during the period. 15.52% of the stock is owned by institutional investors and hedge funds.

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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