Market Pulse Archives

Nov. 9, 2021, 11:13 a.m. EST

BioNTech stock reverses lower after earnings report, in which profit and revenue beat expectations

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    BioNTech SE ADR (BNTX)
  • X
    Pfizer Inc. (PFE)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of BioNTech SE /zigman2/quotes/214419716/composite BNTX -3.17% dropped 2.9% in morning trading Tuesday, reversing an earlier intraday gain of as much as 4.3%, in the wake of the Germany-based biotechnology company's better-than-expected third-quarter earnings report. The company reported before the open that it swung to net income of EUR3.21 billion ($3.72 billion), or EUR12.35 a share, from a loss of EUR210.0 million, or EUR0.88 a share, in the year-ago period, to beat the FactSet consensus for earnings per share of EUR10.54. Revenue multiplied to EUR6.09 billion ($7.05 billion) from EUR67.5 million, to beat the FactSet consensus of EUR5.10 billion, citing "rapid increases in the supply and sales of the COVID-19 vaccine worldwide." The company said it has delivered a total of more than 2 billion doses of its and Pfizer Inc.'s /zigman2/quotes/202877789/composite PFE +0.95% COVID-19 vaccine as of Nov. 2. The company said it now expects to deliver up to 2.5 billion doses of the vaccine in 2021 for revenue of about EUR16 billion to EUR17 billion, compared with guidance provided in August of about EUR15.9 billion in vaccine revenue from the delivery of about 2.2 billion doses. The company and Pfizer expect to manufacture 2.7 billion to 3.0 billion doses of the COVID-19 vaccine by the end of the year, and expect to boost manufacturing capacity to 4 billion doses in 2022. Regarding its cancer treatment business, BioNTech said it has four programs in Phase 2 development. BioNTech's stock has tumbled 47.3% over the past three months but has still run up 189.1% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.10% has gained 5.6% the past three months and rallied 24.7% this year.

/zigman2/quotes/214419716/composite
US : U.S.: Nasdaq
$ 156.53
-5.13 -3.17%
Volume: 3.28M
Jan. 20, 2022 4:00p
P/E Ratio
4.52
Dividend Yield
N/A
Market Cap
$39.21 billion
Rev. per Employee
$8.48M
loading...
/zigman2/quotes/202877789/composite
US : U.S.: NYSE
$ 54.05
+0.51 +0.95%
Volume: 35.11M
Jan. 20, 2022 4:04p
P/E Ratio
16.04
Dividend Yield
2.96%
Market Cap
$300.51 billion
Rev. per Employee
$883,274
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,482.73
-50.03 -1.10%
Volume: 2.54B
Jan. 20, 2022 4:55p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.