Canaccord Genuity Group Reiterates “Buy” Rating for BioNTech (NASDAQ:BNTX)

Canaccord Genuity Group reaffirmed their buy rating on shares of BioNTech (NASDAQ:BNTX) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $171.00 price objective on the stock.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft raised 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 raised their target price on BioNTech from $113.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. TD Cowen dropped their price target on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, UBS Group upped their price objective on shares of BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.54.

BioNTech Stock Performance

BNTX stock opened at $99.72 on Thursday. 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 firm has a market cap of $23.91 billion, a PE ratio of -47.49 and a beta of 0.26. The business has a 50 day moving average of $113.54 and a 200-day moving average of $97.29. BioNTech has a 12-month low of $76.53 and a 12-month high of $131.49.

BioNTech (NASDAQ:BNTX) last released its 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. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.73 EPS. As a group, sell-side analysts expect that BioNTech will post -3.68 earnings per share for the current year.

Institutional Investors Weigh In On BioNTech

A number of institutional investors and hedge funds have recently made changes to their positions in BNTX. FMR LLC increased its stake in BioNTech by 797.8% in the 3rd quarter. FMR LLC now owns 6,299,929 shares of the company’s stock worth $748,243,000 after acquiring an additional 5,598,190 shares during the last quarter. Fred Alger Management LLC purchased a new stake in BioNTech in the third quarter valued at approximately $59,485,000. Candriam S.C.A. lifted its position in BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after purchasing an additional 418,695 shares during the last quarter. Point72 Asset Management L.P. grew its stake in BioNTech by 283.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 461,711 shares of the company’s stock worth $37,103,000 after buying an additional 341,311 shares in the last quarter. Finally, Braidwell LP bought a new position in shares of BioNTech in the 3rd quarter worth $29,425,000. Hedge funds and other institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

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.