BioNTech (NASDAQ:BNTX) Receives Buy Rating from Canaccord Genuity Group

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

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 19th. Wells Fargo & Company assumed coverage on shares of BioNTech in a research report on Wednesday, December 11th. They issued an “overweight” rating and a $170.00 price objective for the company. Truist Financial initiated coverage on shares of BioNTech in a research report on Friday, January 10th. They issued a “buy” rating and a $172.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a research report on Tuesday, November 26th. Finally, BMO Capital Markets lifted their price target on shares of BioNTech from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, BioNTech presently has an average rating of “Moderate Buy” and an average target price of $143.65.

BioNTech Trading Down 6.6 %

Shares of BNTX stock opened at $98.39 on Tuesday. 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 company has a market capitalization of $23.59 billion, a P/E ratio of -46.85 and a beta of 0.30. BioNTech has a 12-month low of $76.53 and a 12-month high of $131.49. The firm has a 50-day moving average price of $116.45 and a 200 day moving average price of $113.13.

BioNTech (NASDAQ:BNTX) last posted its quarterly earnings data on Monday, March 10th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.70. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.24 billion. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.90 EPS. Research analysts forecast that BioNTech will post -3.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Fred Alger Management LLC bought a new position in BioNTech in the third quarter valued at approximately $59,485,000. Baillie Gifford & Co. lifted its stake in 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 buying an additional 31,773 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in BioNTech by 123.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 134,036 shares of the company’s stock valued at $15,919,000 after buying an additional 74,119 shares in the last quarter. SG Americas Securities LLC lifted its stake in BioNTech by 412.3% in the fourth quarter. SG Americas Securities LLC now owns 41,470 shares of the company’s stock valued at $4,726,000 after buying an additional 33,375 shares in the last quarter. Finally, Mirabaud & Cie SA bought a new position in BioNTech in the fourth quarter valued at approximately $684,000. Institutional investors and hedge funds 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.