TipRanksStock Market NewsBNTX NewsBioNTech Delivers Upbeat Q3 Results; Issues Guidance
Market News

BioNTech Delivers Upbeat Q3 Results; Issues Guidance

BioNTech (BNTX) delivered upbeat Q3 2021 results driven by a rapid increase in the supply and sales of the COVID-19 vaccine. The company also had a strong quarter in its oncology pipeline as it leveraged multiple therapeutic platforms.

Based in Germany, BioNTech develops and manufactures next-generation therapies for cancer, allergies, and autoimmune disorders. Its portfolio of oncology product candidates includes individualized and off-the-shelf mRNA-based therapies.

Q3 Results

Revenue in the quarter climbed to €6.09 billion compared to €67.5 million delivered the same quarter last year. The increase was due to the strong sales of the BNT162b2 vaccine worldwide.

In addition, BioNTech delivered a net profit of €3.21 billion, an improvement from a net loss of €210 million delivered the same quarter last year.

For the full year, BioNTech expects revenue in the range of €16 billion and €17 billion on the shipping of 2.5 billion doses of the COVID-19 vaccine. (See Top Smart Score Stocks on TipRanks)

Business Highlights

During the quarter, BioNTech and Pfizer delivered over 2 billion doses of the BNT162b2 COVID-19 vaccine to more than 152 countries. The two plan to offer an additional 500 million doses at a no-profit price.

BioNTech is also undertaking multiple clinical trials as it seeks to expand its COVID-19 vaccine reach. The trials seek to explore booster shots to address waning immunity. The company is also undertaking studies to evaluate variant-specific versions of the vaccine to address emerging SARS-CoV-2 variants.

During the quarter, BioNTech and Pfizer achieved significant progress on the regulatory front in the U.S. as they seek approval for COVID-19 booster doses. In Europe, the European Medicine Agency has already issued a positive opinion.

Stock rating

Last month, Berenberg Bank analyst Zhiqiang Shu reiterated a Buy rating on the stock with a $400 price target, implying 76.7% upside potential to current levels.

Consensus among analysts is a Moderate Buy based on four Buys, and six Holds. The average BioNTech price target of $339.10 implies 49.8% upside potential to current levels.

Related News:
Sierra Wireless Beats Expectations in Q3
Scotiabank Increases Mental Health Coverage to C$10K
Aurora Cannabis Q1 Revenue Falls 11%

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More