JPMorgan Chase & Co. Cuts BioNTech (NASDAQ:BNTX) Price Target to $122.00

BioNTech (NASDAQ:BNTX) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $124.00 to $122.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 1.03% from the stock’s current price.

Several other equities analysts have also recently issued reports on BNTX. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $93.00 to $145.00 in a research report on Tuesday, September 24th. Evercore ISI raised BioNTech from an “in-line” rating to an “outperform” rating and increased their price target for the company from $110.00 to $125.00 in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $150.00 price objective on shares of BioNTech in a research report on Monday, November 18th. Bank of America increased their target price on shares of BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $171.00 price target on shares of BioNTech in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, BioNTech presently has an average rating of “Moderate Buy” and a consensus target price of $138.64.

BioNTech Stock Performance

NASDAQ:BNTX opened at $120.76 on Tuesday. 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 firm has a market capitalization of $28.95 billion, a PE ratio of -57.50 and a beta of 0.26. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The stock’s 50-day simple moving average is $113.54 and its 200 day simple moving average is $98.00.

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

Institutional Trading of BioNTech

Several large investors have recently made changes to their positions in BNTX. GAMMA Investing LLC increased its stake in BioNTech by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock valued at $74,000 after purchasing an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares during the last quarter. Gallacher Capital Management LLC increased its holdings in BioNTech by 12.1% during the 2nd quarter. Gallacher Capital Management LLC now owns 3,657 shares of the company’s stock worth $294,000 after purchasing an additional 395 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of BioNTech by 6.1% in the second quarter. TD Asset Management Inc now owns 7,590 shares of the company’s stock worth $612,000 after purchasing an additional 435 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.