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

BioNTech (NASDAQ:BNTX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Monday, Benzinga reports. They currently have a $113.00 target price on the stock. HC Wainwright’s price objective would suggest a potential downside of 8.43% from the company’s previous close.

BNTX has been the subject of a number of other research reports. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen cut their price objective on BioNTech from $98.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft upgraded BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Wednesday, August 7th. HSBC upgraded BioNTech from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upgraded BioNTech from an “underweight” rating to a “neutral” rating and lifted their price target for the stock from $91.00 to $125.00 in a research report on Monday. Seven research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, BioNTech has a consensus rating of “Moderate Buy” and an average target price of $110.83.

BioNTech Price Performance

NASDAQ:BNTX opened at $123.40 on Monday. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. The business’s 50-day simple moving average is $87.28 and its two-hundred day simple moving average is $89.66. The stock has a market cap of $29.34 billion, a PE ratio of 246.80 and a beta of 0.23. BioNTech has a 52 week low of $76.53 and a 52 week high of $125.41.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings results on Monday, August 5th. The company reported ($3.36) 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 the consensus estimate of $134.98 million. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. BioNTech’s revenue was down 23.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.86) earnings per share. As a group, analysts forecast that BioNTech will post -2.8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of BioNTech by 121.0% during the first quarter. GAMMA Investing LLC now owns 274 shares of the company’s stock valued at $25,000 after buying an additional 150 shares during the period. Frazier Financial Advisors LLC purchased a new position in shares of BioNTech during the fourth quarter valued at approximately $30,000. Covestor Ltd boosted its position in shares of BioNTech by 47.2% during the first quarter. Covestor Ltd now owns 415 shares of the company’s stock valued at $38,000 after buying an additional 133 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after acquiring an additional 252 shares in the last quarter. Finally, Crewe Advisors LLC bought a new stake in shares of BioNTech during the first quarter valued at approximately $75,000. Hedge funds and other institutional investors 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.