Morgan Stanley Cuts BioNTech (NASDAQ:BNTX) Price Target to $139.00

BioNTech (NASDAQ:BNTX) had its target price lowered by Morgan Stanley from $145.00 to $139.00 in a report issued on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group reissued a “buy” rating and set a $171.44 target price on shares of BioNTech in a research note on Tuesday. Evercore ISI raised BioNTech from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, November 19th. HC Wainwright reissued a “buy” rating and set a $150.00 target price on shares of BioNTech in a research note on Monday, November 18th. Berenberg Bank began coverage on BioNTech in a research note on Tuesday, November 19th. They set a “buy” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company began coverage on BioNTech in a research note on Wednesday, December 11th. They issued an “overweight” rating and a $170.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.73.

BioNTech Price Performance

NASDAQ:BNTX opened at $97.46 on Tuesday. BioNTech has a one year low of $76.53 and a one year high of $131.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. The stock has a market cap of $23.37 billion, a PE ratio of -46.41 and a beta of 0.30. The stock has a 50 day moving average price of $116.18 and a 200 day moving average price of $113.04.

BioNTech (NASDAQ:BNTX) last posted its earnings results on Monday, March 10th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.70. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.24 billion. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.90 earnings per share. Equities research analysts expect that BioNTech will post -3.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its holdings in BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock valued at $986,750,000 after purchasing an additional 31,773 shares during the period. FMR LLC boosted its holdings in BioNTech by 22.2% in the fourth quarter. FMR LLC now owns 7,701,476 shares of the company’s stock valued at $877,583,000 after purchasing an additional 1,401,547 shares during the period. Flossbach Von Storch SE boosted its holdings in BioNTech by 1.1% in the fourth quarter. Flossbach Von Storch SE now owns 4,406,843 shares of the company’s stock valued at $502,160,000 after purchasing an additional 47,236 shares during the period. Capital International Investors boosted its holdings in BioNTech by 38.6% in the fourth quarter. Capital International Investors now owns 1,415,566 shares of the company’s stock valued at $161,304,000 after purchasing an additional 394,434 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in BioNTech in the fourth quarter valued at $69,999,000. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

About BioNTech

BioNTech SE, a biotechnology company, develops and commercializes immunotherapies for cancer and other infectious diseases. The company is developing FixVac product candidates, including BNT111, which is in Phase II clinical trial for advance melanoma; BNT112 that is in Phase I/IIa clinical trial for prostate cancer; BNT113, which is in Phase II clinical trial to treat HPV 16+ head and neck cancers; BNT114 to treat triple negative breast cancer; BNT115, which is in Phase I clinical trial in ovarian cancer; and BNT116, which is in Phase I clinical trial for non-small cell lung cancer.