BioNTech (NASDAQ:BNTX) Stock Price Target Lowered at Wells Fargo & Company

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

A number of other equities analysts have also issued reports on the stock. Berenberg Bank set a $140.00 target price on shares of BioNTech in a research report on Wednesday, September 16th. BMO Capital Markets lowered shares of BioNTech from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $128.00 to $105.00 in a report on Tuesday, September 8th. Canaccord Genuity Group lowered their price target on shares of BioNTech from $136.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Weiss Ratings restated a “sell (d-)” rating on shares of BioNTech in a research report on Friday, October 2nd. Finally, Argus began coverage on BioNTech in a report on Thursday, October 8th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $124.80.

Read Our Latest Research Report on BioNTech

BioNTech Price Performance

Shares of BioNTech stock traded up $2.06 during trading on Wednesday, reaching $88.97. The company’s stock had a trading volume of 281,398 shares, compared to its average volume of 1,089,040. The stock has a 50-day moving average price of $96.14 and a two-hundred day moving average price of $96.99. The stock has a market capitalization of $22.50 billion, a P/E ratio of -11.36 and a beta of 1.28. The company has a current ratio of 7.85, a quick ratio of 7.80 and a debt-to-equity ratio of 0.01. BioNTech has a one year low of $79.52 and a one year high of $124.00.

BioNTech (NASDAQ:BNTX – Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative return on equity of 6.86% and a negative net margin of 63.54%. The firm’s revenue was down 59.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.60) EPS. As a group, sell-side analysts anticipate that BioNTech will post -6.62 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On BioNTech

Institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in BioNTech in the second quarter valued at approximately $39,000. Farther Finance Advisors LLC raised its position in shares of BioNTech by 31.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 493 shares of the company’s stock valued at $48,000 after acquiring an additional 118 shares during the last quarter. Parallel Advisors LLC raised its position in shares of BioNTech by 50.3% during the 3rd quarter. Parallel Advisors LLC now owns 843 shares of the company’s stock valued at $83,000 after acquiring an additional 282 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of BioNTech by 328.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,856 shares of the company’s stock valued at $177,000 after acquiring an additional 1,423 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. lifted its stake in shares of BioNTech by 232.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 1,917 shares of the company’s stock valued at $188,000 after purchasing an additional 1,341 shares during the period. 15.52% of the stock is owned by institutional investors.

Key BioNTech News

Here are the key news stories impacting BioNTech this week:

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

Analyst Recommendations for BioNTech (NASDAQ:BNTX)

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