BioNTech (NASDAQ:BNTX) Announces Quarterly Earnings Results

BioNTech (NASDAQ:BNTX) issued its earnings results on Monday. The company reported ($3.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($1.34), Briefing.com reports. The business had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $134.98 million. BioNTech had a return on equity of 0.55% and a net margin of 4.01%. The company’s revenue for the quarter was down 23.3% on a year-over-year basis. During the same period last year, the business earned ($0.86) EPS. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Trading Up 1.6 %

BioNTech stock traded up $1.29 during midday trading on Thursday, reaching $80.54. 239,801 shares of the stock traded hands, compared to its average volume of 698,965. The company has a current ratio of 11.38, a quick ratio of 11.16 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.15 billion, a PE ratio of 158.50 and a beta of 0.23. The company has a 50-day simple moving average of $87.17 and a two-hundred day simple moving average of $90.42. BioNTech has a 12-month low of $76.53 and a 12-month high of $125.83.

Analysts Set New Price Targets

BNTX has been the topic of several analyst reports. HSBC raised BioNTech from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. HC Wainwright reissued a “buy” rating and set a $113.00 price target on shares of BioNTech in a report on Thursday, August 1st. Evercore ISI started coverage on shares of BioNTech in a research report on Tuesday, May 14th. They set an “inline” rating and a $100.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of BioNTech from $123.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded BioNTech from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, BioNTech presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

About BioNTech

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.