Hsbc Global Res Upgrades BioNTech (NASDAQ:BNTX) to Strong-Buy

BioNTech (NASDAQ:BNTX) was upgraded by investment analysts at Hsbc Global Res from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Several other research firms also recently commented on BNTX. TD Cowen upped their price target on shares of BioNTech from $95.00 to $98.00 and gave the company a “hold” rating in a research report on Tuesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $113.00 price target on shares of BioNTech in a research report on Thursday, August 1st. BMO Capital Markets cut their price objective on shares of BioNTech from $123.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Evercore ISI began coverage on shares of BioNTech in a research report on Tuesday, May 14th. They set an “inline” rating and a $100.00 price objective for the company. Finally, HSBC upgraded shares of BioNTech from a “hold” rating to a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $110.40.

BioNTech Stock Up 1.5 %

Shares of BioNTech stock traded up $1.14 during trading hours on Friday, hitting $79.50. The company had a trading volume of 739,513 shares, compared to its average volume of 701,449. The company’s 50-day moving average is $87.74 and its two-hundred day moving average is $90.63. BioNTech has a twelve month low of $76.53 and a twelve month high of $125.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 11.38 and a quick ratio of 11.16. The company has a market cap of $18.90 billion, a P/E ratio of 159.00 and a beta of 0.23.

BioNTech (NASDAQ:BNTX) last issued its earnings results on Monday, August 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($1.34). BioNTech had a net margin of 4.01% and a return on equity of 0.55%. The company had revenue of $128.70 million during the quarter, compared to analyst estimates of $134.98 million. During the same quarter in the previous year, the company posted ($0.86) EPS. The company’s quarterly revenue was down 23.3% on a year-over-year basis. Analysts anticipate that BioNTech will post -2.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Large investors have recently added to or reduced their stakes in the business. Harding Loevner LP acquired a new stake in shares of BioNTech during the 4th quarter worth about $410,984,000. Candriam S.C.A. lifted its holdings in shares of BioNTech by 261.2% during the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after acquiring an additional 418,695 shares during the period. Primecap Management Co. CA lifted its holdings in shares of BioNTech by 2.8% during the 4th quarter. Primecap Management Co. CA now owns 4,763,453 shares of the company’s stock worth $502,735,000 after acquiring an additional 131,490 shares during the period. abrdn plc purchased a new position in shares of BioNTech during the 4th quarter worth about $10,961,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of BioNTech by 1.0% during the 4th quarter. Baillie Gifford & Co. now owns 8,689,182 shares of the company’s stock worth $917,056,000 after acquiring an additional 86,343 shares during the period. 15.52% of the stock is owned by institutional investors and hedge funds.

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.