BioNTech (NASDAQ:BNTX) Raised to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of BioNTech (NASDAQ:BNTX) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. Morgan Stanley currently has $145.00 price objective on the stock, up from their previous price objective of $93.00.

BNTX has been the topic of several other research reports. JPMorgan Chase & Co. raised BioNTech from an underweight rating to a neutral rating and lifted their target price for the company from $91.00 to $125.00 in a research note on Monday, September 16th. Jefferies Financial Group upgraded BioNTech from a hold rating to a buy rating and boosted their target price for the stock from $96.00 to $150.00 in a report on Tuesday, September 17th. HSBC upgraded BioNTech from a hold rating to a buy rating in a research report on Friday, August 2nd. HC Wainwright reiterated a buy rating and issued a $113.00 price target on shares of BioNTech in a research report on Monday, September 16th. Finally, Bank of America upped their price target on BioNTech from $125.00 to $150.00 and gave the company a buy rating in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $127.15.

BioNTech Trading Up 1.6 %

Shares of BNTX stock opened at $117.64 on Tuesday. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. BioNTech has a fifty-two week low of $76.53 and a fifty-two week high of $131.49. The stock has a market capitalization of $27.97 billion, a P/E ratio of 235.28 and a beta of 0.23. The stock has a 50-day simple moving average of $93.23 and a 200 day simple moving average of $91.33.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings results on Monday, August 5th. The company reported ($3.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.02) by ($1.34). BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The company had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $134.98 million. During the same period in the prior year, the business posted ($0.86) EPS. The company’s revenue for the quarter was down 23.3% compared to the same quarter last year. On average, sell-side analysts expect that BioNTech will post -2.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioNTech

Several large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in BioNTech in the second quarter valued at about $223,000. Granite Bay Wealth Management LLC bought a new position in shares of BioNTech during the second quarter worth about $1,483,000. Scientech Research LLC bought a new position in BioNTech in the second quarter valued at approximately $1,127,000. Deerfield Management Company L.P. Series C grew its stake in BioNTech by 4.3% in the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock valued at $47,734,000 after purchasing an additional 24,426 shares in the last quarter. Finally, Employees Retirement System of Texas grew its stake in BioNTech by 15.7% in the second quarter. Employees Retirement System of Texas now owns 30,388 shares of the company’s stock valued at $2,442,000 after purchasing an additional 4,115 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.