BioNTech (NASDAQ:BNTX) Stock Price Up 1.3% - Time to Buy?

BioNTech SE (NASDAQ:BNTX - Get Free Report) saw its stock price increase by 1.3% during Thursday's trading session. The shares reached a high of $121.24 before settling at $120.84, with 80,496 shares traded, significantly lower than the average volume of 806,855 shares. The previous closing price was $119.34.

Analyst Ratings Changes

BioNTech has garnered attention from analysts in recent weeks. On September 16th, Bank of America raised its target price from $125.00 to $150.00, maintaining a "buy" rating for the stock. Wells Fargo initiated coverage on BioNTech on September 18th with an "overweight" rating and a target price of $170.00. Additionally, UBS Group increased their price target from $97.00 to $131.00 and assigned a "neutral" rating. Jefferies Financial Group also upgraded BioNTech’s rating from "hold" to "buy," with a new target of $150.00. Evercore ISI similarly elevated their rating from "in-line" to "outperform" with a target increase from $110.00 to $125.00. In total, four analysts have rated the stock with a hold rating, twelve issued a buy rating, and one gave a strong buy rating. According to MarketBeat, the consensus rating for BioNTech is a "Moderate Buy" with an average price target of $140.76.

BioNTech Price Performance

The stock's 50-day moving average stands at $113.89, while the 200-day moving average is $100.03. BioNTech has a market capitalization of $28.92 billion and a price-to-earnings ratio of -57.54. The firm holds a low debt-to-equity ratio of 0.01, with a current ratio of 7.33 and a quick ratio of 7.21.

In its most recent quarterly earnings report released on November 4th, BioNTech reported earnings of $0.81 per share, surpassing analysts' expectations of ($1.26) by $2.07. The company had a negative return on equity of 2.35% and a negative net margin of 15.16%. BioNTech generated $1.24 billion in revenue for the quarter, exceeding consensus estimates of $514.08 million, and marking a 38.9% increase compared to the same quarter the previous year. Analysts expect BioNTech to report an earnings per share of -3.72 for the current year.

Institutional Trading of BioNTech

Recent changes in institutional ownership reveal increased investment in BioNTech. GAMMA Investing LLC raised its holdings by 21.7% in the third quarter, owning 623 shares valued at $74,000 after acquiring additional shares. Meanwhile, Blue Trust Inc. expanded its position by 491.1%, now owning 467 shares worth $55,000. Gallacher Capital Management LLC also increased its stake by 12.1%, owning 3,657 shares valued at $294,000. TD Asset Management Inc. boosted its holdings by 6.1%, now owning 7,590 shares worth $612,000. Additionally, Planning Capital Management Corp made a significant increase, raising its stake by 45,000%, owning 451 shares valued at $54,000. About 15.52% of BioNTech's stock is currently held by institutional investors and hedge funds.

About BioNTech

BioNTech SE is a biotechnology firm focused on developing and commercializing immunotherapies for various cancers and infectious diseases. Among its product candidates are BNT111, currently in Phase II clinical trials for advanced melanoma; BNT112, in Phase I/IIa trials for prostate cancer; BNT113, in Phase II trials for HPV 16+ head and neck cancers; BNT114 for triple-negative breast cancer; BNT115, in Phase I trials for ovarian cancer; and BNT116, in Phase I trials for non-small cell lung cancer.

Should You Invest in BioNTech Now?

Before deciding to invest in BioNTech, consider that while it currently has a "Moderate Buy" rating, it may be worth exploring other potential investment opportunities that top analysts are recommending instead. MarketBeat has identified five stocks that analysts believe could outperform BioNTech.

BioNTech, Stock, Analysis