BioNTech (NASDAQ:BNTX) Earns “Buy” Rating from Canaccord Genuity Group

BioNTech (NASDAQ:BNTX)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a research report issued on Thursday,Benzinga reports. They presently have a $171.00 price objective on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 71.48% from the stock’s previous close.

BNTX has been the subject of a number of other reports. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and lifted their price target for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. JPMorgan Chase & Co. dropped their price target on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. HC Wainwright lifted their price target on shares of BioNTech from $113.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Finally, The Goldman Sachs Group raised shares of BioNTech from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $90.00 to $137.00 in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.54.

BioNTech Stock Performance

BioNTech stock opened at $99.72 on Thursday. The company’s 50-day moving average price is $113.54 and its 200-day moving average price is $97.18. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $23.91 billion, a PE ratio of -47.49 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last released its quarterly earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same period in the previous year, the company earned $0.73 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, equities research analysts forecast that BioNTech will post -3.47 EPS for the current fiscal year.

Institutional Investors Weigh In On BioNTech

Several hedge funds have recently modified their holdings of BNTX. Covestor Ltd lifted its position in shares of BioNTech by 47.2% in the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 133 shares during the period. GAMMA Investing LLC lifted its position in shares of BioNTech by 86.9% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after purchasing an additional 238 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of BioNTech by 106.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares in the last quarter. Planning Capital Management Corp raised its stake in shares of BioNTech by 45,000.0% during the 3rd quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after acquiring an additional 450 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of BioNTech by 491.1% during the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 15.52% of the company’s stock.

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.