BioNTech’s (BNTX) “Buy” Rating Reiterated at Canaccord Genuity Group

by · The Markets Daily

Canaccord Genuity Group reaffirmed their buy rating on shares of BioNTech (NASDAQ:BNTX – Free Report) in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $171.44 target price on the stock.

Other analysts have also recently issued research reports about the company. Evercore ISI upgraded BioNTech from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, November 19th. BMO Capital Markets increased their target price on BioNTech from $130.00 to $143.00 and gave the stock an “outperform” rating in a research report on Tuesday. Wells Fargo & Company initiated coverage on BioNTech in a research report on Wednesday, December 11th. They set an “overweight” rating and a $170.00 target price for the company. Truist Financial assumed coverage on BioNTech in a research report on Friday, January 10th. They set a “buy” rating and a $172.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and set a $150.00 price target on shares of BioNTech in a report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $143.73.

Check Out Our Latest Analysis on BNTX

BioNTech Stock Down 2.8 %

NASDAQ BNTX opened at $97.46 on Tuesday. The stock’s 50-day moving average price is $116.18 and its 200-day moving average price is $113.04. The company has a quick ratio of 7.21, a current ratio of 7.33 and a debt-to-equity ratio of 0.01. BioNTech has a 52 week low of $76.53 and a 52 week high of $131.49. The company has a market capitalization of $23.37 billion, a P/E ratio of -46.41 and a beta of 0.30.

BioNTech (NASDAQ:BNTX – Get Free Report) last posted its quarterly earnings data on Monday, March 10th. The company reported $1.08 EPS 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 firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, equities research analysts predict that BioNTech will post -3.88 earnings per share for the current year.

Hedge Funds Weigh In On BioNTech

Several large investors have recently modified their holdings of BNTX. FMR LLC increased its position in shares of BioNTech by 797.8% during the 3rd quarter. FMR LLC now owns 6,299,929 shares of the company’s stock valued at $748,243,000 after purchasing an additional 5,598,190 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of BioNTech during the 4th quarter valued at approximately $69,999,000. Fred Alger Management LLC purchased a new position in BioNTech during the 3rd quarter valued at $59,485,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in BioNTech by 632.6% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 501,897 shares of the company’s stock valued at $57,191,000 after acquiring an additional 433,388 shares during the period. Finally, Capital International Investors boosted its holdings in BioNTech by 38.6% during the 4th quarter. Capital International Investors now owns 1,415,566 shares of the company’s stock valued at $161,304,000 after acquiring an additional 394,434 shares during the period. Institutional investors own 15.52% of the company’s stock.

BioNTech Company Profile

(Get Free Report)

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.

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