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

BioNTech SE (NASDAQ:BNTX) – Equities researchers at HC Wainwright lowered their Q3 2024 earnings estimates for shares of BioNTech in a report issued on Monday, October 7th. HC Wainwright analyst R. Burns now anticipates that the company will post earnings per share of $0.72 for the quarter, down from their previous estimate of $0.86. HC Wainwright has a “Buy” rating and a $150.00 price target 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 posted its earnings results on Monday, August 5th. The company reported ($3.36) EPS for the quarter, missing the consensus estimate of ($2.02) by ($1.34). The business had revenue of $128.70 million for the quarter, compared to the consensus estimate of $134.98 million. BioNTech had a negative return on equity of 2.54% and a negative net margin of 18.69%. The company’s revenue was down 23.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.86) earnings per share.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. raised BioNTech from an “underweight” rating to a “neutral” rating and increased their price target for the company from $91.00 to $125.00 in a research report on Monday, September 16th. Bank of America raised their price target on shares of BioNTech from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 16th. HSBC upped their price objective on shares of BioNTech from $97.00 to $136.00 and gave the stock a “buy” rating in a research report on Monday. TD Cowen dropped their target price on shares of BioNTech from $98.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, UBS Group upped their target price on BioNTech from $97.00 to $131.00 and gave the company a “neutral” rating in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, BioNTech has an average rating of “Moderate Buy” and a consensus price target of $131.92.

BioNTech Stock Performance

Shares of BioNTech stock opened at $120.30 on Wednesday. The company has a market cap of $28.60 billion, a PE ratio of 240.60 and a beta of 0.24. 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 52 week low of $76.53 and a 52 week high of $131.49. The business has a 50 day moving average price of $98.75 and a 200-day moving average price of $92.81.

Hedge Funds Weigh In On BioNTech

A number of large investors have recently made changes to their positions in BNTX. GAMMA Investing LLC lifted its stake in BioNTech by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 623 shares of the company’s stock worth $74,000 after purchasing an additional 111 shares in the last quarter. Covestor Ltd lifted its holdings in BioNTech by 47.2% in the 1st quarter. Covestor Ltd now owns 415 shares of the company’s stock worth $38,000 after buying an additional 133 shares during the period. Midwest Professional Planners LTD. increased its position in BioNTech by 7.2% during the 1st quarter. Midwest Professional Planners LTD. now owns 3,177 shares of the company’s stock valued at $293,000 after purchasing an additional 212 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in BioNTech by 2.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,800 shares of the company’s stock worth $904,000 after buying an additional 223 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of BioNTech by 106.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 489 shares of the company’s stock valued at $43,000 after purchasing an additional 252 shares during the period. 15.52% of the stock is owned by institutional investors.

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.