BioNTech (NASDAQ:BNTX) Releases Earnings Results, Beats Expectations By $2.07 EPS

BioNTech (NASDAQ:BNTX) posted its quarterly earnings data on Monday. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of ($1.26) by $2.07, Briefing.com reports. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. BioNTech’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Price Performance

Shares of BNTX traded down $5.65 during trading hours on Wednesday, reaching $105.32. 284,816 shares of the company’s stock traded hands, compared to its average volume of 778,884. 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 firm’s 50 day simple moving average is $110.63 and its 200-day simple moving average is $96.23. The stock has a market cap of $25.04 billion, a PE ratio of -49.10 and a beta of 0.26. BioNTech has a 12 month low of $76.53 and a 12 month high of $131.49.

Analysts Set New Price Targets

Several research firms have recently weighed in on BNTX. Jefferies Financial Group raised BioNTech from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $96.00 to $150.00 in a research report on Tuesday, September 17th. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised 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. HC Wainwright raised their price objective on BioNTech from $113.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, UBS Group increased their target price on shares of BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.