BioNTech (NASDAQ:BNTX) Price Target Lowered to $85.00 at TD Cowen

BioNTech (NASDAQ:BNTX) had its target price decreased by investment analysts at TD Cowen from $98.00 to $85.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 7.40% from the company’s previous close.

BNTX has been the subject of several other research reports. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday. HSBC upgraded shares of BioNTech from a “hold” rating to a “buy” rating in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $113.00 price objective on shares of BioNTech in a research report on Thursday, August 1st. BMO Capital Markets decreased 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. Finally, Evercore ISI initiated coverage on BioNTech in a report on Tuesday, May 14th. They issued an “inline” rating and a $100.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, BioNTech has an average rating of “Hold” and a consensus target price of $110.40.

BioNTech Trading Up 1.0 %

Shares of NASDAQ:BNTX traded up $0.78 during midday trading on Tuesday, reaching $79.14. 332,651 shares of the company’s stock were exchanged, compared to its average volume of 698,737. The firm’s 50 day simple moving average is $87.74 and its two-hundred day simple moving average is $90.63. BioNTech has a fifty-two week low of $76.53 and a fifty-two week 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 stock has a market cap of $18.81 billion, a price-to-earnings ratio of 158.14 and a beta of 0.23.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data 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 firm had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $134.98 million. During the same quarter in the prior year, the firm posted ($0.86) EPS. BioNTech’s quarterly revenue was down 23.3% compared to the same quarter last year. As a group, sell-side analysts forecast that BioNTech will post -2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Institutional investors and hedge funds have recently made changes to their positions in the business. Neuberger Berman Group LLC acquired a new position in BioNTech in the 4th quarter valued at about $1,562,000. Truist Financial Corp acquired a new stake in shares of BioNTech during the fourth quarter worth $1,445,000. US Bancorp DE grew its position in BioNTech by 420.7% in the 4th quarter. US Bancorp DE now owns 28,614 shares of the company’s stock valued at $3,020,000 after buying an additional 23,119 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in BioNTech by 17.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 182,878 shares of the company’s stock valued at $19,301,000 after buying an additional 26,777 shares during the period. Finally, Harding Loevner LP purchased a new position in BioNTech during the 4th quarter worth $410,984,000. 15.52% of the stock is 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.