BioNTech’s (BNTX) “Buy” Rating Reaffirmed at Canaccord Genuity Group

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

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $93.00 to $145.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut their price target on BioNTech from $125.00 to $124.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. HSBC raised their price target on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Four 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 company’s stock. Based on data from MarketBeat, BioNTech presently has an average rating of “Moderate Buy” and an average target price of $137.54.

BioNTech Stock Performance

BNTX stock traded down $4.55 during midday trading on Thursday, reaching $99.01. 2,944,212 shares of the company’s stock traded hands, compared to its average volume of 803,399. BioNTech has a 52-week low of $76.53 and a 52-week high of $131.49. The stock has a market cap of $23.74 billion, a P/E ratio of -45.62 and a beta of 0.26. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average is $113.34 and its 200 day moving average is $97.10.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of ($1.26) by $2.07. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, analysts anticipate that BioNTech will post -3.47 EPS for the current year.

Institutional Trading of BioNTech

Several institutional investors have recently made changes to their positions in the stock. Covestor Ltd increased its position in BioNTech by 47.2% during the first quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 133 shares during the period. GAMMA Investing LLC increased its position in BioNTech by 86.9% during the second quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after acquiring an additional 238 shares during the period. EverSource Wealth Advisors LLC increased its position in BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares during the period. Planning Capital Management Corp increased its position in BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock worth $54,000 after acquiring an additional 450 shares during the period. Finally, Blue Trust Inc. increased its position in BioNTech by 491.1% during the third quarter. Blue Trust Inc. now owns 467 shares of the company’s stock worth $55,000 after acquiring an additional 388 shares during the period. 15.52% of the stock is currently owned by institutional investors and hedge funds.

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.