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

BioNTech (NASDAQ:BNTX) had its price target upped by Canaccord Genuity Group from $171.00 to $171.44 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on BNTX. HC Wainwright reaffirmed a “buy” rating and issued a $150.00 price objective on shares of BioNTech in a research report on Monday, November 18th. Hsbc Global Res upgraded shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Bank of America boosted their price target on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on BioNTech from $124.00 to $122.00 and set a “neutral” rating on the stock in a report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioNTech has an average rating of “Moderate Buy” and an average target price of $138.67.

BioNTech Stock Performance

NASDAQ:BNTX opened at $118.39 on Wednesday. The firm’s fifty day simple moving average is $113.81 and its 200 day simple moving average is $98.68. The company has a current ratio of 7.33, a quick ratio of 7.21 and a debt-to-equity ratio of 0.01. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of -56.38 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 firm posted $0.73 earnings per share. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. As a group, equities research analysts expect that BioNTech will post -3.68 earnings per share for the current fiscal year.

Institutional Trading of BioNTech

A number of institutional investors and hedge funds have recently modified their holdings of the business. Candriam S.C.A. raised its stake in BioNTech by 261.2% during the second quarter. Candriam S.C.A. now owns 578,998 shares of the company’s stock worth $46,526,000 after acquiring an additional 418,695 shares during the period. Fred Alger Management LLC acquired a new stake in shares of BioNTech during the 3rd quarter worth approximately $59,485,000. Baillie Gifford & Co. lifted 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 purchasing an additional 31,773 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in BioNTech by 63.3% during the 3rd 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 during the period. Finally, Discovery Capital Management LLC CT bought a new position in BioNTech during the 2nd quarter worth $2,467,000. 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.