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

Canaccord Genuity Group restated their buy rating on shares of BioNTech (NASDAQ:BNTX) in a report issued on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $171.00 price objective on the stock.

Several other brokerages also recently issued reports on BNTX. Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $93.00 to $145.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price objective on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Hsbc Global Res upgraded shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen cut their price target on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $137.00 in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $137.54.

BioNTech Stock Down 4.4 %

Shares of BNTX traded down $4.55 during midday trading on Thursday, hitting $99.01. The stock had a trading volume of 2,944,212 shares, compared to its average volume of 803,399. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.33 and a quick ratio of 7.21. The company has a 50 day simple moving average of $113.34 and a two-hundred day simple moving average of $97.10. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of -45.62 and a beta of 0.26. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.26) by $2.07. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative return on equity of 2.35% and a negative net margin of 15.16%. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. On average, analysts anticipate that BioNTech will post -3.47 EPS for the current year.

Institutional Trading of BioNTech

Several hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in BioNTech by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock valued at $74,000 after buying an additional 111 shares during the last quarter. Covestor Ltd grew its holdings in shares of BioNTech by 47.2% during the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 133 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in BioNTech by 2.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,800 shares of the company’s stock worth $904,000 after acquiring an additional 223 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in BioNTech by 106.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares during the period. Finally, Capital International Sarl raised its position in shares of BioNTech by 1.3% in the 1st quarter. Capital International Sarl now owns 24,058 shares of the company’s stock valued at $2,219,000 after purchasing an additional 310 shares in the last quarter. 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.