BioNTech (NASDAQ:BNTX) Announces Quarterly Earnings Results

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

BioNTech Price Performance

Shares of NASDAQ:BNTX traded up $1.26 on Tuesday, reaching $110.23. The company’s stock had a trading volume of 156,076 shares, compared to its average volume of 780,867. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.40 and a current ratio of 7.54. BioNTech has a 52-week low of $76.53 and a 52-week high of $131.49. The company has a 50-day simple moving average of $110.15 and a 200 day simple moving average of $96.06. The company has a market cap of $26.21 billion, a P/E ratio of -48.89 and a beta of 0.26.

Analyst Ratings Changes

Several analysts have commented on the company. JPMorgan Chase & Co. cut their target price on BioNTech from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Monday. Bank of America increased their price objective on BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 16th. UBS Group boosted their target price on BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. HSBC upped their target price on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Morgan Stanley upgraded shares of BioNTech from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $135.46.

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.