BioNTech (NASDAQ:BNTX) Stock Price Down 2.8% Following Analyst Downgrade

BioNTech SE (NASDAQ:BNTX)’s share price was down 2.8% during trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $124.00 to $122.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. BioNTech traded as low as $117.00 and last traded at $117.40. Approximately 308,482 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 815,980 shares. The stock had previously closed at $120.76.

Several other research analysts have also issued reports on BNTX. Evercore ISI upgraded BioNTech from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $110.00 to $125.00 in a research note on Tuesday, November 19th. The Goldman Sachs Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and increased their target price for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Berenberg Bank initiated coverage on shares of BioNTech in a report on Tuesday, November 19th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Bank of America raised their price target on BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BNTX. FMR LLC grew its position in BioNTech by 797.8% in the third quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after purchasing an additional 5,598,190 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of BioNTech in the 3rd quarter valued at about $59,485,000. Candriam S.C.A. grew its holdings in shares of BioNTech by 261.2% in the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after acquiring an additional 418,695 shares in the last quarter. Point72 Asset Management L.P. grew its stake in BioNTech by 283.5% in the second quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock valued at $37,103,000 after purchasing an additional 341,311 shares in the last quarter. Finally, Braidwell LP bought a new position in BioNTech in the third quarter valued at approximately $29,425,000. Institutional investors own 15.52% of the company’s stock.

BioNTech Stock Performance

The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $113.42 and a two-hundred day simple moving average of $98.19. The stock has a market capitalization of $28.94 billion, a P/E ratio of -57.48 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last released its earnings results on Monday, November 4th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis. On average, equities analysts forecast that BioNTech SE will post -3.68 EPS for the current fiscal year.

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.