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

BioNTech (NASDAQ:BNTX - Get Free Report)'s stock had its "buy" rating restated by Canaccord Genuity Group in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $171.00 price objective on the stock. Canaccord Genuity Group's target price points to a potential upside of 65.12% from the stock's current price.

A number of other equities analysts have also recently commented on BNTX. Bank of America boosted their price target on shares of BioNTech from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. TD Cowen lowered 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. Deutsche Bank Aktiengesellschaft upped their price objective on BioNTech from $95.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. HC Wainwright raised their price objective on BioNTech from $113.00 to $150.00 and gave the company a "buy" rating in a report on Monday, October 7th. Finally, HSBC increased their price target on shares of BioNTech from $97.00 to $136.00 and gave the company a "buy" rating in a research report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.54.

BioNTech Stock Performance

Shares of BNTX traded down $7.92 during trading hours on Thursday, hitting $103.56. The company's stock had a trading volume of 1,664,520 shares, compared to its average volume of 793,590. The company has a market cap of $24.83 billion, a price-to-earnings ratio of -49.31 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The business has a 50 day simple moving average of $113.34 and a two-hundred day simple moving average of $97.10. BioNTech has a 52-week low of $76.53 and a 52-week high of $131.49.

BioNTech (NASDAQ:BNTX - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share (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 for the quarter, compared to the consensus estimate of $514.08 million. During the same period in the prior year, the firm posted $0.73 earnings per share. The company's revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities analysts expect that BioNTech will post -3.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioNTech

A number of institutional investors have recently added to or reduced their stakes in BNTX. Covestor Ltd lifted its holdings in shares of BioNTech by 47.2% during the first quarter. Covestor Ltd now owns 415 shares of the company's stock valued at $38,000 after purchasing an additional 133 shares during the last quarter. GAMMA Investing LLC boosted its holdings in BioNTech by 86.9% in the second quarter. GAMMA Investing LLC now owns 512 shares of the company's stock worth $41,000 after acquiring an additional 238 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of BioNTech by 106.3% in 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 last quarter. Planning Capital Management Corp increased its holdings in shares of BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company's stock valued at $54,000 after acquiring an additional 450 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company's stock worth $55,000 after purchasing an additional 388 shares during the last quarter. 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.