HC Wainwright Reiterates Buy Rating for BioNTech (NASDAQ:BNTX)

HC Wainwright reaffirmed their buy rating on shares of BioNTech (NASDAQ:BNTX) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $113.00 price objective on the stock.

A number of other research firms also recently issued reports on BNTX. JPMorgan Chase & Co. decreased their price target on shares of BioNTech from $99.00 to $90.00 and set an underweight rating on the stock in a research note on Friday, March 22nd. Canaccord Genuity Group reiterated a buy rating and issued a $171.00 price target on shares of BioNTech in a research report on Thursday, March 21st. Evercore ISI assumed coverage on BioNTech in a research note on Tuesday, May 14th. They issued an inline rating and a $100.00 price objective for the company. TD Cowen increased their price target on BioNTech from $95.00 to $98.00 and gave the company a hold rating in a report on Tuesday, May 7th. Finally, The Goldman Sachs Group dropped their price objective on shares of BioNTech from $113.00 to $100.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BioNTech has a consensus rating of Hold and an average target price of $111.70.

BioNTech Price Performance

Shares of BioNTech stock opened at $80.36 on Wednesday. The stock has a market cap of $19.10 billion, a P/E ratio of 160.72 and a beta of 0.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.16 and a current ratio of 11.38. The stock’s fifty day moving average is $92.22 and its 200 day moving average is $94.67. BioNTech has a one year low of $80.02 and a one year high of $125.83.

BioNTech (NASDAQ:BNTX) last issued its earnings results on Monday, May 6th. The company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.60). The firm had revenue of $203.69 million during the quarter, compared to the consensus estimate of $589.96 million. BioNTech had a return on equity of 0.55% and a net margin of 4.01%. Sell-side analysts anticipate that BioNTech will post -2 earnings per share for the current year.

Institutional Investors Weigh In On BioNTech

Several hedge funds have recently made changes to their positions in BNTX. Harding Loevner LP acquired a new position in shares of BioNTech during the fourth quarter worth $410,984,000. Primecap Management Co. CA raised its holdings in shares of BioNTech by 2.8% during the fourth quarter. Primecap Management Co. CA now owns 4,763,453 shares of the company’s stock worth $502,735,000 after purchasing an additional 131,490 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in BioNTech by 43.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 425,071 shares of the company’s stock valued at $44,610,000 after purchasing an additional 127,951 shares during the last quarter. abrdn plc acquired a new stake in BioNTech during the 4th quarter worth about $10,961,000. Finally, Bamco Inc. NY raised its stake in shares of BioNTech by 123.1% during the 3rd quarter. Bamco Inc. NY now owns 158,911 shares of the company’s stock valued at $17,264,000 after buying an additional 87,686 shares during the last quarter. 15.52% of the stock is currently 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.