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

Canaccord Genuity Group reaffirmed their buy rating on shares of BioNTech (NASDAQ:BNTX) in a research report released on Wednesday morning,Benzinga reports. They currently have a $171.00 target price on the stock.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets cut their price target on BioNTech from $143.00 to $128.00 and set an “outperform” rating for the company in a report on Wednesday. TD Cowen decreased their price objective on BioNTech from $116.00 to $94.00 and set a “hold” rating on the stock in a research note on Wednesday. Raymond James Financial reiterated an “outperform” rating on shares of BioNTech in a research report on Tuesday. Truist Financial set a $155.00 target price on shares of BioNTech in a research note on Tuesday. Finally, Morgan Stanley decreased their price target on shares of BioNTech from $134.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.73.

BioNTech Price Performance

BNTX stock opened at $91.19 on Wednesday. The stock’s 50 day moving average price is $106.43 and its 200 day moving average price is $102.56. The firm has a market cap of $20.53 billion, a P/E ratio of -17.40 and a beta of 1.51. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.02 and a current ratio of 7.54. BioNTech has a 1 year low of $79.52 and a 1 year high of $124.00.

Hedge Funds Weigh In On BioNTech

Several institutional investors have recently added to or reduced their stakes in BNTX. Rhenman & Partners Asset Management AB lifted its position in BioNTech by 0.3% during the second quarter. Rhenman & Partners Asset Management AB now owns 35,870 shares of the company’s stock worth $3,819,000 after buying an additional 120 shares during the period. Kennedy Capital Management LLC grew its holdings in BioNTech by 0.8% in the 2nd quarter. Kennedy Capital Management LLC now owns 16,422 shares of the company’s stock valued at $1,748,000 after buying an additional 127 shares during the period. Larson Financial Group LLC grew its holdings in BioNTech by 86.4% in the 4th quarter. Larson Financial Group LLC now owns 274 shares of the company’s stock valued at $26,000 after buying an additional 127 shares during the period. Probity Advisors Inc. increased its stake in shares of BioNTech by 5.7% during the 3rd quarter. Probity Advisors Inc. now owns 2,506 shares of the company’s stock valued at $247,000 after acquiring an additional 135 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in shares of BioNTech by 3.6% during the 2nd quarter. Profund Advisors LLC now owns 4,309 shares of the company’s stock valued at $459,000 after acquiring an additional 149 shares during the last quarter. 15.52% of the stock is currently owned by institutional investors and hedge funds.

About BioNTech

BioNTech SE (NASDAQ: BNTX) is a Germany-based biotechnology company that develops next-generation immunotherapies and vaccines, with a primary focus on messenger RNA (mRNA) technology. Founded in 2008 and headquartered in Mainz, BioNTech advances a platform approach to design and manufacture therapeutics across oncology, infectious diseases and other high unmet-need areas. The company is publicly traded on the NASDAQ exchange and became widely known for its rapid development and global deployment of an mRNA-based COVID-19 vaccine in collaboration with Pfizer.

BioNTech’s core activities include discovery research, clinical development and manufacturing of mRNA-based medicines, personalized cancer immunotherapies, engineered cell therapies, and antibody- and protein-based therapeutics.