BioNTech (NASDAQ:BNTX) Issues Earnings Results, Beats Estimates By $2.07 EPS

BioNTech (NASDAQ:BNTX) posted its earnings results on Monday. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07, Briefing.com reports. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $514.08 million. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The company’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 firm posted $0.73 EPS. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Stock Down 3.9 %

BioNTech stock traded down $4.33 during midday trading on Wednesday, reaching $106.64. The stock had a trading volume of 1,215,773 shares, compared to its average volume of 784,106. The company has a fifty day moving average price of $110.63 and a two-hundred day moving average price of $96.23. BioNTech has a 12 month low of $76.53 and a 12 month high of $131.49. The company has a current ratio of 7.54, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $25.36 billion, a P/E ratio of -49.10 and a beta of 0.26.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BNTX. TD Cowen reduced their price objective on shares of BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research note on Tuesday. Morgan Stanley upgraded BioNTech from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $93.00 to $145.00 in a research report on Tuesday, September 24th. HC Wainwright raised their price objective on BioNTech from $113.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their target price on BioNTech from $95.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Hsbc Global Res upgraded shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioNTech has a consensus rating of “Moderate Buy” and an average target price of $134.69.

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.