BioNTech (NASDAQ:BNTX) Upgraded by JPMorgan Chase & Co. to “Neutral”

BioNTech (NASDAQ:BNTX) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. The brokerage currently has a $125.00 price objective on the stock, up from their prior price objective of $91.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 0.23% from the stock’s previous close.

A number of other equities research analysts also recently commented on BNTX. Jefferies Financial Group boosted their target price on BioNTech from $90.00 to $96.00 and gave the stock a “hold” rating in a research report on Friday, September 13th. TD Cowen decreased their price objective on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock 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 on the stock in a research report on Wednesday, August 7th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, HC Wainwright restated a “buy” rating and set a $113.00 price objective on shares of BioNTech in a research report on Tuesday, August 27th. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $118.00.

BioNTech Price Performance

NASDAQ:BNTX opened at $124.71 on Monday. The company has a current ratio of 7.54, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $29.65 billion, a P/E ratio of 249.42 and a beta of 0.23. BioNTech has a 12 month low of $76.53 and a 12 month high of $131.49. The business’s 50-day moving average is $88.13 and its 200 day moving average is $89.90.

BioNTech (NASDAQ:BNTX) last posted its 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 firm had revenue of $128.70 million during the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. BioNTech’s quarterly revenue was down 23.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.86) earnings per share. On average, equities research analysts forecast that BioNTech will post -2.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA grew its stake in BioNTech by 2.8% in 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 in the last quarter. Harding Loevner LP bought a new position in BioNTech in the fourth quarter worth approximately $410,984,000. Capital World Investors grew its stake in BioNTech by 0.5% in the first quarter. Capital World Investors now owns 943,116 shares of the company’s stock worth $87,002,000 after purchasing an additional 4,369 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings in BioNTech by 4.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after buying an additional 24,426 shares during the period. Finally, Candriam S.C.A. lifted its holdings in BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after buying an additional 418,695 shares during the period. Institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

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.