JPMorgan Chase & Co. Issues Pessimistic Forecast for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX - Get Free Report) had its price target dropped by equities researchers at JPMorgan Chase & Co. from $120.00 to $116.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 17.18% from the company's previous close.

Several other research analysts have also recently commented on BNTX. BMO Capital Markets increased their target price on shares of BioNTech from $130.00 to $143.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. Canaccord Genuity Group restated a "buy" rating and set a $171.44 price objective on shares of BioNTech in a research note on Tuesday, March 11th. Citigroup restated a "buy" rating and issued a $140.00 price objective (down previously from $145.00) on shares of BioNTech in a report on Tuesday, May 6th. HC Wainwright reaffirmed a "buy" rating and issued a $134.00 target price on shares of BioNTech in a research report on Thursday. Finally, Morgan Stanley reduced their price target on BioNTech from $140.00 to $132.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, BioNTech presently has an average rating of "Moderate Buy" and a consensus price target of $141.73.

BioNTech Stock Down 0.1%

BNTX stock traded down $0.10 during trading hours on Thursday, reaching $98.99. 44,926 shares of the stock were exchanged, compared to its average volume of 934,965. The firm's 50-day moving average is $97.44 and its 200-day moving average is $108.60. BioNTech has a 12 month low of $76.53 and a 12 month high of $131.49. The company has a market cap of $23.80 billion, a price-to-earnings ratio of -47.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its earnings results on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.70. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm earned $1.90 EPS. BioNTech's revenue for the quarter was down 19.5% compared to the same quarter last year. On average, equities research analysts expect that BioNTech will post -3.88 earnings per share for the current year.

Institutional Trading of BioNTech

Several large investors have recently modified their holdings of the stock. Banque Cantonale Vaudoise acquired a new position in BioNTech in the first quarter valued at about $36,000. Jones Financial Companies Lllp raised its position in shares of BioNTech by 110.3% in the 4th quarter. Jones Financial Companies Lllp now owns 469 shares of the company's stock valued at $53,000 after buying an additional 246 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of BioNTech during the 1st quarter worth approximately $80,000. Quintet Private Bank Europe S.A. boosted its position in shares of BioNTech by 823.5% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 785 shares of the company's stock worth $88,000 after acquiring an additional 700 shares in the last quarter. Finally, Allianz SE bought a new position in BioNTech in the fourth quarter valued at approximately $90,000. 15.52% of the stock is owned by institutional investors and hedge funds.

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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