Citigroup Cuts BioNTech (NASDAQ:BNTX) Price Target to $125.00

BioNTech (NASDAQ:BNTX) had its price target trimmed by Citigroup from $130.00 to $125.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on BNTX. Weiss Ratings reissued a “sell (d-)” rating on shares of BioNTech in a research note on Monday, July 6th. Wells Fargo & Company reduced their price target on shares of BioNTech from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Wall Street Zen upgraded BioNTech from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. Berenberg Bank lowered their price objective on BioNTech from $155.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, UBS Group raised BioNTech from a “neutral” rating to a “buy” rating and raised their target price for the stock from $117.00 to $135.00 in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.81.

BioNTech Trading Up 2.7%

Shares of BNTX stock opened at $93.67 on Wednesday. The company’s 50-day moving average price is $91.36 and its 200-day moving average price is $96.93. The company has a current ratio of 7.85, a quick ratio of 8.74 and a debt-to-equity ratio of 0.01. The stock has a market cap of $23.69 billion, a price-to-earnings ratio of -11.96 and a beta of 1.27. BioNTech has a twelve month low of $79.52 and a twelve month high of $124.00.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings data on Monday, May 4th. The company reported ($2.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.52) by $0.26. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The firm had revenue of $136.71 million during the quarter, compared to analysts’ expectations of $207.42 million. During the same period last year, the business earned ($1.73) earnings per share. BioNTech’s revenue was down 35.4% compared to the same quarter last year. As a group, equities analysts predict that BioNTech will post -5.7 earnings per share for the current year.

BioNTech declared that its board has initiated a stock buyback program on Thursday, May 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On BioNTech

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its holdings in shares of BioNTech by 86.4% in the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. EFG International AG acquired a new stake in BioNTech during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in BioNTech by 520.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in BioNTech by 118.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 563 shares of the company’s stock valued at $60,000 after buying an additional 305 shares during the period. Finally, Vestcor Inc acquired a new position in shares of BioNTech in the fourth quarter worth $153,000. 15.52% of the stock is owned by institutional investors and hedge funds.

About BioNTech

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.