Truist Financial Reaffirms “Buy” Rating for BioNTech (NASDAQ:BNTX)

Truist Financial restated their buy rating on shares of BioNTech (NASDAQ:BNTX) in a report issued on Tuesday morning,Benzinga reports. They currently have a $155.00 price objective on the stock, up from their previous price objective of $151.00.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group assumed 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. Wall Street Zen cut shares of BioNTech from a “hold” rating to a “sell” rating in a research report on Friday, May 30th. JPMorgan Chase & Co. decreased 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. Morgan Stanley decreased their target price on shares of BioNTech from $140.00 to $132.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Finally, HC Wainwright restated a “buy” rating and set a $134.00 target price on shares of BioNTech in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $139.14.

BioNTech Stock Up 2.2%

Shares of BNTX stock opened at $115.64 on Tuesday. The stock has a market cap of $27.80 billion, a P/E ratio of -55.07 and a beta of 1.35. BioNTech has a 52 week low of $76.53 and a 52 week high of $131.49. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $98.19 and its two-hundred day simple moving average is $108.26.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings results on Monday, March 10th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.38 by $0.70. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.24 billion. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.90 EPS. Analysts predict that BioNTech will post -3.88 EPS for the current fiscal year.

Institutional Trading of BioNTech

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BNTX. abrdn plc grew its stake in BioNTech by 70.7% in the 4th quarter. abrdn plc now owns 385,668 shares of the company’s stock worth $43,947,000 after acquiring an additional 159,676 shares in the last quarter. Van ECK Associates Corp grew its stake in BioNTech by 25.1% in the 4th quarter. Van ECK Associates Corp now owns 118,418 shares of the company’s stock worth $13,493,000 after acquiring an additional 23,733 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in BioNTech in the 4th quarter worth about $1,118,000. Vontobel Holding Ltd. grew its stake in BioNTech by 24.6% in the 4th quarter. Vontobel Holding Ltd. now owns 21,385 shares of the company’s stock worth $2,437,000 after acquiring an additional 4,227 shares in the last quarter. Finally, AlphaCentric Advisors LLC bought a new position in BioNTech in the 4th quarter worth about $168,000. 15.52% of the stock is 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.