BioNTech (NASDAQ:BNTX) Announces Quarterly Earnings Results

BioNTech (NASDAQ:BNTX) announced its earnings results 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. BioNTech had a return on equity of 0.55% and a net margin of 4.01%. The business had revenue of $128.70 million for the quarter, compared to analyst estimates of $134.98 million. During the same period in the previous year, the company earned ($0.86) earnings per share. The company’s quarterly revenue was down 23.3% compared to the same quarter last year. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Price Performance

BNTX stock traded up $0.93 during trading on Wednesday, hitting $80.43. The stock had a trading volume of 228,387 shares, compared to its average volume of 698,328. BioNTech has a 1-year low of $76.53 and a 1-year high of $125.83. The stock has a market cap of $19.12 billion, a price-to-earnings ratio of 159.00 and a beta of 0.23. The company’s 50 day moving average price is $87.45 and its two-hundred day moving average price is $90.50. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.16 and a current ratio of 11.38.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. HSBC raised shares of BioNTech from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. TD Cowen cut their price objective on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating for the company in a research report on Tuesday. Hsbc Global Res raised shares of BioNTech from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Evercore ISI assumed coverage on shares of BioNTech in a research note on Tuesday, May 14th. They set an “inline” rating and a $100.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $113.00 price objective on shares of BioNTech in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average 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.