Canaccord Genuity Group Issues Positive Forecast for BioNTech (NASDAQ:BNTX) Stock Price

BioNTech (NASDAQ:BNTX) had its target price upped by Canaccord Genuity Group from $171.00 to $171.44 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 44.63% from the stock’s previous close.

Several other research analysts also recently commented on BNTX. Evercore ISI upgraded shares of BioNTech from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $110.00 to $125.00 in a report on Tuesday, November 19th. JPMorgan Chase & Co. decreased their target price on BioNTech from $124.00 to $122.00 and set a “neutral” rating for the company in a research note on Tuesday. 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 dropped their price target on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating for the company in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group upgraded shares of BioNTech from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $137.00 in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.67.

BioNTech Trading Down 1.8 %

NASDAQ:BNTX opened at $118.54 on Wednesday. The company has a market capitalization of $28.42 billion, a P/E ratio of -56.45 and a beta of 0.26. The stock’s 50 day moving average price is $113.54 and its 200 day moving average price is $98.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.21 and a current ratio of 7.33. BioNTech has a 52 week low of $76.53 and a 52 week high of $131.49.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative net margin of 15.16% and a negative return on equity of 2.35%. BioNTech’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.73 earnings per share. On average, research analysts forecast that BioNTech will post -3.68 EPS for the current fiscal year.

Hedge Funds Weigh In On BioNTech

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