HC Wainwright Comments on BioNTech SE’s Q3 2024 Earnings (NASDAQ:BNTX)

BioNTech SE (NASDAQ:BNTX) – Stock analysts at HC Wainwright reduced their Q3 2024 EPS estimates for shares of BioNTech in a research note issued to investors on Monday, October 7th. HC Wainwright analyst R. Burns now forecasts that the company will post earnings of $0.72 per share for the quarter, down from their previous forecast of $0.86. HC Wainwright has a “Buy” rating and a $150.00 price objective on the stock. The consensus estimate for BioNTech’s current full-year earnings is ($2.87) per share. HC Wainwright also issued estimates for BioNTech’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at ($3.92) EPS, Q1 2025 earnings at ($2.48) EPS, Q2 2025 earnings at ($2.55) EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at ($3.88) EPS.

BioNTech (NASDAQ:BNTX) last announced its quarterly earnings data on Monday, August 5th. The company reported ($3.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($1.34). BioNTech had a negative net margin of 18.69% and a negative return on equity of 2.54%. The business had revenue of $128.70 million for the quarter, compared to analysts’ expectations of $134.98 million. During the same period in the prior year, the company posted ($0.86) EPS. The firm’s revenue was down 23.3% on a year-over-year basis.

Several other analysts have also recently issued reports on BNTX. JPMorgan Chase & Co. upgraded BioNTech from an “underweight” rating to a “neutral” rating and upped their target price for the company from $91.00 to $125.00 in a report on Monday, September 16th. Morgan Stanley raised shares of BioNTech from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $93.00 to $145.00 in a report on Tuesday, September 24th. Hsbc Global Res upgraded shares of BioNTech from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. UBS Group raised their price target on shares of BioNTech from $97.00 to $131.00 and gave the stock a “neutral” rating in a report on Wednesday, September 18th. Finally, HSBC upped their price objective on BioNTech from $97.00 to $136.00 and gave the company a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, BioNTech currently has an average rating of “Moderate Buy” and an average price target of $131.92.

BioNTech Price Performance

BNTX stock opened at $117.47 on Wednesday. BioNTech has a 1 year low of $76.53 and a 1 year high of $131.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 7.54 and a quick ratio of 7.40. The firm has a market capitalization of $27.93 billion, a PE ratio of 234.94 and a beta of 0.24. The business has a 50 day simple moving average of $99.38 and a 200-day simple moving average of $92.98.

Hedge Funds Weigh In On BioNTech

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in shares of BioNTech by 121.0% during the first quarter. GAMMA Investing LLC now owns 274 shares of the company’s stock worth $25,000 after purchasing an additional 150 shares in the last quarter. Covestor Ltd grew its stake in shares of BioNTech by 47.2% in the first quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 133 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of BioNTech by 106.3% during the first quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock worth $43,000 after acquiring an additional 252 shares during the period. Crewe Advisors LLC acquired a new stake in shares of BioNTech in the first quarter valued at $75,000. Finally, American National Bank purchased a new position in BioNTech in the first quarter valued at $81,000. 15.52% of the stock is currently owned by hedge funds and other institutional investors.

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.