BioNTech (NASDAQ:BNTX) Issues Quarterly Earnings Results, Misses Expectations By $0.71 EPS

BioNTech (NASDAQ:BNTX) posted its quarterly earnings data on Monday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.71), Zacks reports. BioNTech had a negative return on equity of 1.84% and a negative net margin of 12.20%.

BioNTech Stock Performance

Shares of BNTX opened at $103.91 on Monday. The company has a market cap of $23.40 billion, a price-to-earnings ratio of -64.94 and a beta of 1.45. The business’s fifty day simple moving average is $102.52 and its two-hundred day simple moving average is $104.97. BioNTech has a 12 month low of $81.20 and a 12 month high of $129.27. The company has a current ratio of 8.61, a quick ratio of 8.48 and a debt-to-equity ratio of 0.01.

Hedge Funds Weigh In On BioNTech

Institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in BioNTech by 6.7% during the second quarter. BNP Paribas Financial Markets now owns 1,275,475 shares of the company’s stock valued at $135,800,000 after acquiring an additional 80,005 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of BioNTech by 8.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 192,789 shares of the company’s stock valued at $20,526,000 after purchasing an additional 14,950 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of BioNTech by 2.9% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 492,045 shares of the company’s stock valued at $52,416,000 after purchasing an additional 13,788 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of BioNTech by 368,800.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,067 shares of the company’s stock worth $1,178,000 after purchasing an additional 11,064 shares during the period. Finally, Natixis bought a new stake in BioNTech during the second quarter valued at approximately $985,000. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BNTX. Morgan Stanley reduced their target price on shares of BioNTech from $133.00 to $131.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Wells Fargo & Company set a $150.00 target price on shares of BioNTech and gave the company an “overweight” rating in a report on Tuesday, August 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of BioNTech in a research report on Tuesday, October 14th. Bank of America reduced their price objective on BioNTech from $134.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $136.00 price objective on shares of BioNTech in a research note on Monday, September 8th. Ten analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, BioNTech currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.96.

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.