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

BioNTech (NASDAQ:BNTX) posted its quarterly earnings results on Monday. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $2.07, Briefing.com reports. BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. During the same period in the prior year, the business posted $0.73 earnings per share. BioNTech’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 Price Performance

BNTX traded up $1.21 during midday trading on Tuesday, hitting $110.18. The company had a trading volume of 162,460 shares, compared to its average volume of 780,897. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The firm’s 50-day simple moving average is $110.15 and its 200-day simple moving average is $96.06. The company has a market capitalization of $26.20 billion, a PE ratio of -48.77 and a beta of 0.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.40 and a current ratio of 7.54.

Wall Street Analysts Forecast Growth

BNTX has been the topic of a number of recent research reports. HSBC raised their price target on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a report on Monday, October 7th. TD Cowen boosted their target price on BioNTech from $85.00 to $132.00 and gave the stock a “hold” rating in a report on Monday, October 21st. UBS Group increased their price target on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. reduced their price objective on shares of BioNTech from $125.00 to $124.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of BioNTech from $95.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.