BioNTech (NASDAQ:BNTX) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of BioNTech (NASDAQ:BNTX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “BioNTech SE is a biotechnology company. It develops and commercializes immunotherapies for cancer and other diseases. BioNTech SE is based in Mainz, Germany. “

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group set a $230.00 price target on BioNTech in a report on Thursday, October 7th. TheStreet raised BioNTech from a c rating to a b- rating in a research report on Monday. SVB Leerink dropped their price target on BioNTech from $293.00 to $268.00 and set a market perform rating on the stock in a research report on Tuesday, October 5th. Bryan, Garnier & Co set a $359.00 target price on BioNTech in a research report on Tuesday, October 5th. Finally, UBS Group set a $300.00 price target on BioNTech in a research report on Thursday, September 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, BioNTech currently has a consensus rating of Hold and an average price target of $255.36.

Shares of BNTX stock opened at $249.40 on Wednesday. BioNTech has a 12 month low of $75.35 and a 12 month high of $464.00. The firm has a market cap of $60.48 billion, a PE ratio of 13.05 and a beta of -1.59. The stock has a 50 day moving average of $331.44 and a 200-day moving average of $249.12. The company has a quick ratio of 2.57, a current ratio of 2.67 and a debt-to-equity ratio of 0.04.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings data on Sunday, August 8th. The company reported $10.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.35 by $2.42. BioNTech had a return on equity of 159.73% and a net margin of 52.48%. The firm had revenue of $5.31 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the company posted ($0.38) earnings per share. The business’s revenue for the quarter was up 12599.8% compared to the same quarter last year. As a group, equities analysts predict that BioNTech will post 37.71 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BNTX. Harbor Investment Advisory LLC bought a new position in BioNTech in the 3rd quarter worth $25,000. Creative Financial Designs Inc. ADV purchased a new stake in BioNTech in the 3rd quarter worth about $27,000. Firestone Capital Management purchased a new stake in BioNTech in the 2nd quarter worth about $29,000. MV Capital Management Inc. purchased a new position in shares of BioNTech during the second quarter worth approximately $41,000. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of BioNTech during the second quarter worth approximately $45,000. Institutional investors and hedge funds own 14.49% 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 involved in the developing of FixVac product candidates, including BNT111, which is in Phase I clinical trial for advance melanoma; BNT112 that is in Phase I/IIa trial for prostate cancer; BNT113, which is in Phase I/II trial to treat HPV+ head and neck cancers; BNT114 that is in Phase I clinical trial for triple negative breast cancer; BNT115 in a Phase I trial in ovarian cancer; and BNT116 for non-small cell lung cancer.It also develops neoantigen specific immunotherapies, such as Autogene cevumeran (BNT122), which is in Phase II clinical trial for first-line melanoma, as well as in Phase I clinical trial to treat multiple solid tumors; mRNA intratumoral immunotherapy comprising SAR441000 that is in Phase I clinical trial for solid tumors; and BNT141 and BNT142 to treat multiple solid tumors.

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