BioNTech (NASDAQ:BNTX) Shares Down 6.4% After Analyst Downgrade

BioNTech SE (NASDAQ:BNTX) was down 6.4% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $145.00 to $139.00. Morgan Stanley currently has an overweight rating on the stock. BioNTech traded as low as $98.25 and last traded at $98.61. Approximately 739,834 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 787,574 shares. The stock had previously closed at $105.35.

Several other brokerages also recently weighed in on BNTX. HC Wainwright restated a “buy” rating and set a $150.00 target price on shares of BioNTech in a research note on Monday, November 18th. Wells Fargo & Company initiated coverage on BioNTech in a research note on Wednesday, December 11th. They set an “overweight” rating and a $170.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Truist Financial assumed coverage on shares of BioNTech in a research note on Friday, January 10th. They issued a “buy” rating and a $172.00 target price for the company. Finally, Berenberg Bank initiated coverage on shares of BioNTech in a research note on Tuesday, November 19th. They set a “buy” rating and a $130.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.65.

Hedge Funds Weigh In On BioNTech

Several institutional investors and hedge funds have recently modified their holdings of BNTX. GSA Capital Partners LLP purchased a new position in BioNTech during the third quarter valued at approximately $373,000. Victory Capital Management Inc. acquired a new stake in shares of BioNTech during the 3rd quarter worth approximately $345,000. Planning Capital Management Corp increased its holdings in shares of BioNTech by 45,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after purchasing an additional 450 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of BioNTech in the 3rd quarter valued at $361,000. Finally, Chesapeake Capital Corp IL acquired a new position in shares of BioNTech in the 3rd quarter valued at $442,000. Institutional investors and hedge funds own 15.52% of the company’s stock.

BioNTech Price Performance

The stock has a market capitalization of $24.05 billion, a PE ratio of -47.77 and a beta of 0.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The stock’s fifty day moving average is $116.18 and its 200-day moving average is $113.04.

BioNTech (NASDAQ:BNTX) last posted its earnings results on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.70. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company posted $1.90 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, equities analysts predict that BioNTech SE will post -3.88 earnings per share for the current fiscal year.

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.