BioNTech (NASDAQ:BNTX) Given New $136.00 Price Target at Canaccord Genuity Group

BioNTech (NASDAQ:BNTX) had its target price reduced by Canaccord Genuity Group from $142.00 to $136.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 33.24% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Berenberg Bank cut their price target on BioNTech from $155.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioNTech in a research note on Monday, July 6th. Wells Fargo & Company reduced their target price on shares of BioNTech from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 6th. Sanford C. Bernstein reiterated a “market perform” rating on shares of BioNTech in a research report on Friday, June 5th. Finally, Wall Street Zen cut shares of BioNTech from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.44.

BioNTech Stock Down 0.0%

NASDAQ BNTX opened at $102.07 on Monday. The firm has a market cap of $25.81 billion, a PE ratio of -13.04 and a beta of 1.27. BioNTech has a one year low of $79.52 and a one year high of $124.00. The stock’s 50 day simple moving average is $95.40 and its 200 day simple moving average is $95.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.85 and a quick ratio of 7.80.

BioNTech (NASDAQ:BNTX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($2.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.40) by ($0.13). The business had revenue of $122.31 million during the quarter, compared to the consensus estimate of $180.18 million. BioNTech had a negative net margin of 63.54% and a negative return on equity of 6.86%. The company’s revenue for the quarter was down 59.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.60) EPS. As a group, sell-side analysts forecast that BioNTech will post -6.33 earnings per share for the current fiscal year.

BioNTech declared that its board has initiated a stock repurchase plan on Thursday, May 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of BioNTech

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in BioNTech during the 2nd quarter valued at about $293,000. B. Metzler seel. Sohn & Co. AG grew its position in shares of BioNTech by 66.7% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 10,967 shares of the company’s stock worth $1,020,000 after buying an additional 4,390 shares during the period. Headlands Technologies LLC bought a new stake in shares of BioNTech during the second quarter worth approximately $2,520,000. Flossbach Von Storch SE bought a new stake in shares of BioNTech during the second quarter worth approximately $207,142,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab lifted its holdings in BioNTech by 10.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 8,290 shares of the company’s stock valued at $771,000 after buying an additional 816 shares during the period. 15.52% of the stock is owned by institutional investors.

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.