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

BioNTech (NASDAQ:BNTX) released its quarterly earnings data on Monday. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $514.08 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis. BioNTech updated its FY 2024 guidance to EPS.

BioNTech Price Performance

BNTX stock traded up $1.05 during trading on Tuesday, hitting $110.02. The company had a trading volume of 179,462 shares, compared to its average volume of 780,956. The company has a fifty day moving average price of $110.15 and a two-hundred day moving average price of $96.06. BioNTech has a fifty-two week low of $76.53 and a fifty-two week high of $131.49. The company has a market cap of $26.16 billion, a P/E ratio of -48.77 and a beta of 0.26. The company has a current ratio of 7.54, a quick ratio of 7.40 and a debt-to-equity ratio of 0.01.

Wall Street Analysts Forecast Growth

BNTX has been the subject of several analyst reports. Jefferies Financial Group raised shares of BioNTech from a “hold” rating to a “buy” rating and lifted their price objective for the company from $96.00 to $150.00 in a research note on Tuesday, September 17th. UBS Group boosted their price target on BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 18th. HC Wainwright raised their price objective on BioNTech from $113.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Hsbc Global Res upgraded BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, TD Cowen increased their price target on BioNTech from $85.00 to $132.00 and gave the company a “hold” rating in a report on Monday, October 21st. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, BioNTech presently has an average rating of “Moderate Buy” and an average price target 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.