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

BioNTech (NASDAQ:BNTX) had its price objective boosted by equities research analysts at Canaccord Genuity Group from $171.00 to $171.44 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 42.01% from the stock’s previous close.

Other analysts have also issued reports about the stock. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. UBS Group boosted their price objective on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Bank of America lifted their target price on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and issued a $150.00 price target on shares of BioNTech in a research note on Monday, November 18th. Finally, Evercore ISI raised shares of BioNTech from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $138.67.

BioNTech Stock Up 1.8 %

Shares of NASDAQ BNTX opened at $120.72 on Wednesday. The firm’s 50-day moving average price is $113.52 and its 200-day moving average price is $98.35. 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 12-month low of $76.53 and a 12-month high of $131.49. The stock has a market capitalization of $28.94 billion, a price-to-earnings ratio of -57.49 and a beta of 0.26.

BioNTech (NASDAQ:BNTX) last announced its earnings results on Monday, November 4th. The company reported $0.81 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 return on equity of 2.35% and a negative net margin of 15.16%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. On average, equities research analysts anticipate that BioNTech will post -3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Planning Capital Management Corp boosted its position in BioNTech by 45,000.0% during the third quarter. Planning Capital Management Corp now owns 451 shares of the company’s stock valued at $54,000 after purchasing an additional 450 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of BioNTech by 491.1% in the 3rd quarter. Blue Trust Inc. now owns 467 shares of the company’s stock valued at $55,000 after buying an additional 388 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of 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 buying an additional 252 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of BioNTech by 86.9% during the 2nd quarter. GAMMA Investing LLC now owns 512 shares of the company’s stock worth $41,000 after acquiring an additional 238 shares in the last quarter. Finally, Clear Harbor Asset Management LLC purchased a new stake in BioNTech during the third quarter valued at approximately $210,000. 15.52% of the stock is owned by institutional investors.

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.