BioNTech (NASDAQ:BNTX) Releases Quarterly Earnings Results, Misses Expectations By $1.34 EPS

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

BioNTech Trading Up 2.3 %

Shares of BNTX stock opened at $81.29 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.16 and a current ratio of 11.38. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 159.00 and a beta of 0.23. BioNTech has a 52-week low of $76.53 and a 52-week high of $125.83. The company has a 50-day simple moving average of $87.45 and a two-hundred day simple moving average of $90.50.

Analysts Set New Price Targets

Several research firms have weighed in on BNTX. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. BMO Capital Markets decreased their target price on BioNTech from $123.00 to $122.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Evercore ISI started coverage on BioNTech in a research note on Tuesday, May 14th. They issued an “inline” rating and a $100.00 price objective for the company. TD Cowen lowered their target price on BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised shares of BioNTech from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, BioNTech currently 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.