BioNTech (NASDAQ:BNTX) Issues Quarterly Earnings Results, Beats Expectations By $2.07 EPS

BioNTech (NASDAQ:BNTX) announced its earnings results on Monday. The company reported $0.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $514.08 million. During the same quarter in the previous year, the business posted $0.73 earnings per share. BioNTech’s quarterly revenue was up 38.9% on a year-over-year basis. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Stock Performance

NASDAQ:BNTX opened at $106.64 on Thursday. The company has a quick ratio of 7.40, a current ratio of 7.54 and a debt-to-equity ratio of 0.01. BioNTech has a twelve month low of $76.53 and a twelve month high of $131.49. The firm’s fifty day simple moving average is $111.00 and its 200 day simple moving average is $96.31. The stock has a market cap of $25.36 billion, a P/E ratio of -50.78 and a beta of 0.26.

Analysts Set New Price Targets

BNTX has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of BioNTech from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley raised BioNTech from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $93.00 to $145.00 in a research note on Tuesday, September 24th. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $96.00 to $150.00 in a research note on Tuesday, September 17th. HSBC increased their target price on shares of BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Finally, TD Cowen cut their target price on BioNTech from $132.00 to $122.00 and set a “hold” rating on the stock in a research report on Tuesday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.69.

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.