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

BioNTech (NASDAQ:BNTX)‘s stock had its “buy” rating restated by equities research analysts at 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 price objective indicates a potential upside of 51.60% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft upped 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. The Goldman Sachs Group raised BioNTech from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $137.00 in a research report on Friday, November 8th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. HSBC increased their price objective on BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Finally, Bank of America boosted their target price on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.54.

BioNTech Trading Up 1.2 %

Shares of NASDAQ:BNTX traded up $1.32 during mid-day trading on Thursday, hitting $112.80. The stock had a trading volume of 302,820 shares, compared to its average volume of 787,372. The company’s 50 day moving average is $113.08 and its 200-day moving average is $97.05. BioNTech has a 12-month low of $76.53 and a 12-month high of $131.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. The company has a market cap of $27.04 billion, a PE ratio of -53.71 and a beta of 0.26.

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

Hedge Funds Weigh In On BioNTech

Large investors have recently added to or reduced their stakes in the company. Candriam S.C.A. boosted its position in shares of BioNTech by 261.2% during the 2nd quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock valued at $46,526,000 after acquiring an additional 418,695 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in BioNTech by 63.3% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,939 shares of the company’s stock valued at $2,249,000 after purchasing an additional 7,340 shares in the last quarter. Discovery Capital Management LLC CT bought a new stake in shares of BioNTech in the 2nd quarter valued at approximately $2,467,000. Baillie Gifford & Co. raised its holdings in shares of BioNTech by 0.4% in the 3rd quarter. Baillie Gifford & Co. now owns 8,308,071 shares of the company’s stock worth $986,750,000 after buying an additional 31,773 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its position in shares of BioNTech by 4.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 594,000 shares of the company’s stock worth $47,734,000 after buying an additional 24,426 shares during the period. Institutional investors and hedge funds own 15.52% of the company’s stock.

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.