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

BioNTech (NASDAQ:BNTX) released its quarterly 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. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same quarter in the prior year, the business posted $0.73 earnings per share. The company’s revenue for the quarter was up 38.9% compared to the same quarter last year. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Stock Up 0.6 %

BNTX stock traded up $0.67 during mid-day trading on Thursday, hitting $107.31. The stock had a trading volume of 226,842 shares, compared to its average volume of 781,536. The company has a current ratio of 7.54, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01. BioNTech has a 1-year low of $76.53 and a 1-year high of $131.49. The company has a fifty day moving average of $111.00 and a 200 day moving average of $96.31. The stock has a market capitalization of $25.51 billion, a price-to-earnings ratio of -50.78 and a beta of 0.26.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BNTX. UBS Group increased their price target on BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft increased their price target on BioNTech from $95.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley raised BioNTech from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $93.00 to $145.00 in a research note on Tuesday, September 24th. Bank of America increased their price target on BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their price objective on BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, BioNTech has a consensus 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.