Canaccord Genuity Group Forecasts Strong Price Appreciation for BioNTech (NASDAQ:BNTX) Stock

BioNTech (NASDAQ:BNTX) had its price objective upped by investment analysts at Canaccord Genuity Group from $171.00 to $171.44 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 44.63% from the stock’s previous close.

A number of other research firms also recently weighed in on BNTX. JPMorgan Chase & Co. decreased their target price on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday. TD Cowen decreased their price objective on BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Hsbc Global Res raised BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. UBS Group increased their price target on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a research report on Wednesday, September 18th. Finally, Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $138.67.

BioNTech Stock Performance

BNTX opened at $118.54 on Wednesday. The company has a market capitalization of $28.42 billion, a price-to-earnings ratio of -56.45 and a beta of 0.26. The business’s 50-day moving average price is $113.54 and its two-hundred day moving average price is $98.00. BioNTech has a 1 year low of $76.53 and a 1 year high of $131.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21.

BioNTech (NASDAQ:BNTX) last released its earnings results on Monday, November 4th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of ($1.26) by $2.07. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $514.08 million. During the same quarter in the previous year, the business posted $0.73 EPS. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. Equities analysts expect that BioNTech will post -3.68 EPS for the current fiscal year.

Institutional Trading of BioNTech

Several hedge funds have recently added to or reduced their stakes in BNTX. Planning Capital Management Corp increased its position in 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 buying an additional 450 shares during the period. Blue Trust Inc. raised its stake in 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 in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in BioNTech by 106.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares during the period. GAMMA Investing LLC boosted its holdings in BioNTech by 86.9% in the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock valued at $41,000 after purchasing an additional 238 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of BioNTech during the 3rd quarter worth approximately $210,000. 15.52% of the stock is owned by institutional investors and hedge funds.

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.