Wells Fargo & Company Has Lowered Expectations for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX – Get Free Report) had its price objective reduced by equities research analysts at Wells Fargo & Company from $140.00 to $125.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 40.49% from the company’s previous close.

Several other research firms have also weighed in on BNTX. Argus started coverage on shares of BioNTech in a research note on Thursday, October 8th. They set a “hold” rating on the stock. Berenberg Bank set a $140.00 target price on shares of BioNTech in a research note on Wednesday, September 16th. BMO Capital Markets lowered shares of BioNTech from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $128.00 to $105.00 in a report on Tuesday, September 8th. Canaccord Genuity Group reduced their price target on shares of BioNTech from $136.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, October 14th. Finally, Bank of America reissued a “buy” rating on shares of BioNTech in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.80.

View Our Latest Analysis on BNTX

BioNTech Trading Up 2.4%

Shares of BioNTech stock traded up $2.06 during trading on Wednesday, hitting $88.97. 281,398 shares of the company were exchanged, compared to its average volume of 1,089,040. The firm has a market capitalization of $22.50 billion, a P/E ratio of -11.36 and a beta of 1.28. BioNTech has a 1-year low of $79.52 and a 1-year high of $124.00. The firm’s fifty day moving average price is $96.14 and its 200 day moving average price is $96.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.85 and a quick ratio of 7.80.

BioNTech (NASDAQ:BNTX – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($2.53) EPS for the quarter, missing analysts’ consensus estimates of ($2.40) by ($0.13). The company had revenue of $122.31 million during the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The business’s revenue was down 59.5% compared to the same quarter last year. During the same period last year, the company earned ($1.60) earnings per share. As a group, sell-side analysts expect that BioNTech will post -6.62 earnings per share for the current fiscal year.

Insider Activity at BioNTech

In other news, CEO Ugur Sahin sold 36,209 shares of BioNTech stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $95.37, for a total transaction of $3,453,252.33. Following the transaction, the chief executive officer owned 36,209 shares in the company, valued at $3,453,252.33. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 807,209 shares of company stock worth $79,246,837 over the last quarter. Company insiders own 19.20% of the company’s stock.

Institutional Trading of BioNTech

A number of large investors have recently bought and sold shares of the business. Flossbach Von Storch SE bought a new stake in shares of BioNTech during the second quarter worth $207,142,000. Bank of America Corp DE lifted its position in BioNTech by 22.6% in the 1st quarter. Bank of America Corp DE now owns 903,029 shares of the company’s stock valued at $80,261,000 after acquiring an additional 166,432 shares in the last quarter. First Trust Advisors LP lifted its position in BioNTech by 116.0% in the 1st quarter. First Trust Advisors LP now owns 839,991 shares of the company’s stock valued at $74,658,000 after acquiring an additional 451,124 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in BioNTech by 79.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 760,675 shares of the company’s stock valued at $74,774,000 after acquiring an additional 337,412 shares in the last quarter. Finally, Candriam S.C.A. boosted its stake in BioNTech by 4.7% in the 3rd quarter. Candriam S.C.A. now owns 520,972 shares of the company’s stock worth $51,399,000 after purchasing an additional 23,442 shares during the period. 15.52% of the stock is owned by institutional investors.

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About BioNTech

(Get Free Report)

BioNTech SE is a biotechnology company headquartered in Mainz, Germany, focused on developing medicines and vaccines based on messenger RNA and other immunotherapy technologies. The company’s research programs address cancer, infectious diseases, and other serious medical conditions.

BioNTech’s oncology portfolio includes individualized and off-the-shelf cancer immunotherapies, including mRNA-based treatments, cell therapies, antibody-based therapies, and immune-modulating approaches. Its infectious-disease activities include vaccine programs developed through proprietary platforms and collaborations.

In collaboration with Pfizer, BioNTech developed Comirnaty, an mRNA-based COVID-19 vaccine.

Further Reading

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