BioNTech (NASDAQ:BNTX) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of BioNTech (NASDAQ:BNTX) from a buy rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “BioNTech SE is a biotechnology company. It develops and commercializes immunotherapies for cancer and other diseases. BioNTech SE is based in Mainz, Germany. “

Several other analysts have also recently weighed in on BNTX. Svb Leerink started coverage on BioNTech in a report on Monday, November 4th. They set an outperform rating for the company. Berenberg Bank started coverage on BioNTech in a report on Monday, November 4th. They set a buy rating and a $25.00 price target for the company. UBS Group started coverage on BioNTech in a report on Monday, November 4th. They set a buy rating and a $21.00 price target for the company. Canaccord Genuity started coverage on BioNTech in a report on Monday, November 4th. They set a buy rating and a $22.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on BioNTech in a report on Monday, November 4th. They set an overweight rating and a $23.00 price target for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $25.43.

NASDAQ:BNTX traded down $2.71 during mid-day trading on Wednesday, hitting $31.84. 409,830 shares of the stock were exchanged, compared to its average volume of 193,668. The stock’s 50-day moving average price is $32.38. BioNTech has a fifty-two week low of $12.52 and a fifty-two week high of $48.85.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings results on Thursday, November 14th. The company reported ($0.16) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.05. The firm had revenue of $31.87 million for the quarter, compared to analyst estimates of $28.83 million. As a group, equities research analysts predict that BioNTech will post -0.79 earnings per share for the current fiscal year.

About BioNTech

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

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