BioNTech (NASDAQ:BNTX) Given New $150.00 Price Target at Bank of America

BioNTech (NASDAQ:BNTX) had its target price increased by equities research analysts at Bank of America from $125.00 to $150.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 23.75% from the company’s current price.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of BioNTech from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $91.00 to $125.00 in a research report on Monday. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised shares of BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Wednesday, August 7th. HSBC raised BioNTech from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, TD Cowen reduced their target price on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Seven analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $113.85.

BioNTech Price Performance

BNTX opened at $121.21 on Monday. BioNTech has a twelve month low of $76.53 and a twelve month high of $125.41. The company has a current ratio of 7.54, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01. The firm has a market cap of $28.81 billion, a price-to-earnings ratio of 242.42 and a beta of 0.23. The company has a fifty day simple moving average of $87.28 and a 200 day simple moving average of $89.66.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, August 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). The business had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The firm’s revenue was down 23.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.86) earnings per share. Equities research analysts expect that BioNTech will post -2.8 EPS for the current fiscal year.

Hedge Funds Weigh In On BioNTech

Several hedge funds and other institutional investors have recently modified their holdings of BNTX. Sanctuary Advisors LLC bought a new stake in BioNTech in the 2nd quarter valued at about $223,000. Granite Bay Wealth Management LLC bought a new stake in BioNTech during the 2nd quarter valued at $1,483,000. Scientech Research LLC acquired a new position in shares of BioNTech during the second quarter valued at $1,127,000. Deerfield Management Company L.P. Series C raised its holdings in BioNTech by 4.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after purchasing an additional 24,426 shares in the last quarter. Finally, Employees Retirement System of Texas lifted its holdings in BioNTech by 15.7% in the 2nd quarter. Employees Retirement System of Texas now owns 30,388 shares of the company’s stock valued at $2,442,000 after acquiring an additional 4,115 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.