Morgan Stanley Issues Pessimistic Forecast for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX) had its price target decreased by research analysts at Morgan Stanley from $140.00 to $132.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 33.07% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. Citigroup restated a “buy” rating on shares of BioNTech in a research report on Tuesday. HC Wainwright reduced their target price on shares of BioNTech from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. BMO Capital Markets increased their price target on shares of BioNTech from $130.00 to $143.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Canaccord Genuity Group reissued a “buy” rating and set a $171.44 price objective on shares of BioNTech in a research note on Tuesday, March 11th. Finally, Truist Financial assumed coverage on BioNTech in a research note on Friday, January 10th. They issued a “buy” rating and a $172.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.03.

BioNTech Price Performance

Shares of BNTX stock traded down $1.91 during mid-day trading on Tuesday, hitting $99.20. The company had a trading volume of 206,880 shares, compared to its average volume of 984,000. The company has a market capitalization of $23.80 billion, a P/E ratio of -47.24 and a beta of 1.35. The stock’s 50 day moving average price is $100.15 and its 200-day moving average price is $109.97. BioNTech has a 52-week low of $76.53 and a 52-week high of $131.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.70. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $1.90 earnings per share. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. Equities research analysts forecast that BioNTech will post -3.88 earnings per share for the current year.

Institutional Trading of BioNTech

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp raised its holdings in shares of BioNTech by 110.3% in the 4th quarter. Jones Financial Companies Lllp now owns 469 shares of the company’s stock valued at $53,000 after purchasing an additional 246 shares in the last quarter. Quintet Private Bank Europe S.A. increased its holdings in shares of BioNTech by 823.5% during the fourth quarter. Quintet Private Bank Europe S.A. now owns 785 shares of the company’s stock valued at $88,000 after acquiring an additional 700 shares in the last quarter. Allianz SE purchased a new position in shares of BioNTech in the fourth quarter worth $90,000. GAMMA Investing LLC lifted its position in BioNTech by 48.2% during the 4th quarter. GAMMA Investing LLC now owns 923 shares of the company’s stock worth $105,000 after acquiring an additional 300 shares during the period. Finally, Goodman Advisory Group LLC purchased a new stake in BioNTech in the first quarter valued at approximately $105,000. 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.