BioNTech (NASDAQ:BNTX) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of BioNTech (NASDAQ:BNTX) in a research note published on Tuesday,Benzinga reports. They currently have a $171.44 price target on the stock.

Several other equities research analysts have also recently weighed in on BNTX. JPMorgan Chase & Co. lowered their target price on BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a report on Tuesday, November 26th. BMO Capital Markets upped their target price on BioNTech from $130.00 to $143.00 and gave the stock an “outperform” rating in a report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $150.00 target price on shares of BioNTech in a report on Monday, November 18th. Wells Fargo & Company initiated coverage on BioNTech in a report on Wednesday, December 11th. They issued an “overweight” rating and a $170.00 target price for the company. Finally, Truist Financial initiated coverage on BioNTech in a research note on Friday, January 10th. They set a “buy” rating and a $172.00 price objective for the company. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.73.

BioNTech Price Performance

BNTX opened at $97.46 on Tuesday. The business has a fifty day moving average of $116.18 and a 200 day moving average of $113.04. BioNTech has a 52-week low of $76.53 and a 52-week 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 stock has a market cap of $23.37 billion, a P/E ratio of -46.41 and a beta of 0.30.

BioNTech (NASDAQ:BNTX) last issued its earnings results on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.70. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the business earned $1.90 EPS. The business’s revenue for the quarter was down 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that BioNTech will post -3.88 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BNTX. GSA Capital Partners LLP acquired a new position in BioNTech during the 3rd quarter valued at about $373,000. Baillie Gifford & Co. increased its holdings in shares of BioNTech by 0.4% in the third quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock valued at $986,750,000 after purchasing an additional 31,773 shares during the period. Victory Capital Management Inc. acquired a new position in shares of BioNTech in the third quarter valued at about $345,000. Planning Capital Management Corp increased its holdings in shares of BioNTech by 45,000.0% in the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after purchasing an additional 450 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of BioNTech in the third quarter valued at about $361,000. 15.52% of the stock is 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.