BioNTech (NASDAQ:BNTX) Raised to “Strong-Buy” at Truist Financial

BioNTech (NASDAQ:BNTX) was upgraded by investment analysts at Truist Financial to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

BNTX has been the subject of several other research reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of BioNTech in a research report on Wednesday. Raymond James Financial restated an “outperform” rating on shares of BioNTech in a research note on Tuesday, March 10th. BMO Capital Markets lowered their price target on shares of BioNTech from $143.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of BioNTech in a research note on Tuesday, March 17th. Finally, Leerink Partners lowered shares of BioNTech from an “outperform” rating to a “market perform” rating and set a $113.00 price objective on the stock. in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $133.73.

BioNTech Price Performance

BNTX stock opened at $88.77 on Wednesday. The firm has a market cap of $21.30 billion, a P/E ratio of -16.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.49 and a current ratio of 7.54. BioNTech has a 1 year low of $79.52 and a 1 year high of $124.00. The stock has a 50-day simple moving average of $104.54 and a 200-day simple moving average of $101.82.

Institutional Trading of BioNTech

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in shares of BioNTech by 86.4% in the fourth quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock worth $26,000 after buying an additional 127 shares during the last quarter. EFG International AG bought a new position in BioNTech during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its stake in BioNTech by 520.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $30,000 after acquiring an additional 260 shares during the last quarter. Financial Consulate Inc. acquired a new position in BioNTech during the 3rd quarter worth $36,000. Finally, Huntington National Bank increased its position in shares of BioNTech by 1,266.7% in the 3rd quarter. Huntington National Bank now owns 410 shares of the company’s stock worth $40,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 15.52% of the company’s stock.

BioNTech Company Profile

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.