BioNTech (NASDAQ:BNTX) Upgraded by The Goldman Sachs Group to “Buy” Rating

BioNTech (NASDAQ:BNTX) was upgraded by equities researchers at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a $137.00 target price on the stock, up from their prior target price of $90.00. The Goldman Sachs Group’s target price would suggest a potential upside of 23.83% from the company’s previous close.

BNTX has been the subject of several other research reports. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. HSBC upped their price target on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $93.00 to $145.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their target price on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, UBS Group upped their price target on shares of BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and an average target price of $137.54.

BioNTech Price Performance

BioNTech stock opened at $110.64 on Friday. The stock has a market cap of $26.31 billion, a price-to-earnings ratio of -52.69 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.40. BioNTech has a 1 year low of $76.53 and a 1 year high of $131.49. The firm has a 50-day moving average of $111.85 and a two-hundred day moving average of $96.60.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same period in the previous year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. On average, research analysts forecast that BioNTech will post -3.32 earnings per share for the current year.

Institutional Trading of BioNTech

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in BioNTech by 47.2% during the first quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after buying an additional 133 shares in the last quarter. GAMMA Investing LLC boosted its holdings in BioNTech by 86.9% during the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after buying an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after buying an additional 252 shares in the last quarter. Planning Capital Management Corp boosted its holdings in BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after buying an additional 450 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after buying an additional 388 shares in the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.