Berenberg Bank Forecasts Strong Price Appreciation for BioNTech (NASDAQ:BNTX) Stock

BioNTech (NASDAQ:BNTX) had its price target upped by equities research analysts at Berenberg Bank from $150.00 to $155.00 in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s target price suggests a potential upside of 63.48% from the company’s current price.

BNTX has been the subject of a number of other research reports. UBS Group raised shares of BioNTech to a “hold” rating in a research note on Thursday, December 4th. HC Wainwright upped their target price on shares of BioNTech from $136.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Cowen reissued a “hold” rating on shares of BioNTech in a research note on Monday, November 3rd. JPMorgan Chase & Co. dropped their price target on BioNTech from $121.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNTech in a research report on Tuesday, October 14th. Ten research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.75.

BioNTech Price Performance

BioNTech stock opened at $94.81 on Thursday. The stock has a market cap of $21.35 billion, a price-to-earnings ratio of -36.05 and a beta of 1.30. The company has a quick ratio of 7.02, a current ratio of 7.12 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $102.27 and a 200 day simple moving average of $105.00. BioNTech has a 52 week low of $81.20 and a 52 week high of $129.27.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.89). BioNTech had a negative net margin of 17.91% and a negative return on equity of 3.03%. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the business earned $0.81 EPS. The business’s revenue was up 22.0% on a year-over-year basis. On average, research analysts forecast that BioNTech will post -3.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dodge & Cox raised its holdings in BioNTech by 315.7% during the 3rd quarter. Dodge & Cox now owns 3,647,091 shares of the company’s stock valued at $359,676,000 after buying an additional 2,769,654 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of BioNTech by 94.6% in the first quarter. BNP Paribas Financial Markets now owns 1,195,470 shares of the company’s stock valued at $108,859,000 after acquiring an additional 581,173 shares during the period. Invesco Ltd. increased its position in shares of BioNTech by 643.7% in the first quarter. Invesco Ltd. now owns 645,142 shares of the company’s stock valued at $58,747,000 after acquiring an additional 558,389 shares during the period. Bank of America Corp DE raised its stake in shares of BioNTech by 344.4% during the third quarter. Bank of America Corp DE now owns 573,356 shares of the company’s stock valued at $56,544,000 after acquiring an additional 444,332 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BioNTech by 58.8% during the second quarter. Bank of New York Mellon Corp now owns 1,108,719 shares of the company’s stock worth $118,045,000 after purchasing an additional 410,351 shares during the period. 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.