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BioNTech News: Why Is BNTX Stock Up Today?


BioNTech (NASDAQ:BNTX) stock is rising higher on Wednesday with the release of the biotechnology company’s most recent earnings report.

OCGN stock: hands of medical professional holding a syringe, symbolizing BNTX stock.

Source: shutterstock.com/PhotobyTawat

According to the company, it saw strong performance during the fourth quarter of 2021 thanks to the Covid-19 vaccines it makes in collaboration with Pfizer (NYSE:PFE). That resulted in the company’s earnings per share and revenue beating out estimates.

In the case of EPS, BioNTech reported €12.18. That’s a massive gain over the €1.43 per share reported in the same period of the year prior. It also easily comes in above the €7.33 per share that Wall Street was expecting.

Moving on to revenue, BioNTech reported €5.53 billion. Yet again, that’s a major boost compared to the company’s revenue of €345.4 from the same time last year. That also has it smashing analysts’ revenue estimate of €3.86 billion for the period.

In addition to this, BioNTech is expecting vaccine revenue for the full year of 2022 to range from €13 billion to €17 billion. For the record, Wall Street’s estimate for total revenue in the year is €15.9 billion.

Jens Holstein, CFO of BioNTech, said the following in the company’s earnings report.

“We expect to initiate a share repurchase program of up to $1.5 billion as we would like to share our successes with our shareholders and provide for upcoming settlement obligations under share-based payment arrangements. In addition, we will propose a special cash dividend of €2.00 per share at our forthcoming 2022 Annual General Meeting.”

Heavy trading of BNTX stock follows the company’s earnings report. As of this writing, some 2.7 million shares have changed hands. That’s already above its daily average trading volume of 2.1 million shares.

BNTX stock is up 5.8% as of Wednesday morning.

Investors looking for more stock market news will want to stick around!

We’ve got all the hottest stock news traders need to know about for Wednesday! A few examples include a breakdown of meme stocks, Chewy (NYSE:CHWY) earnings details, as well as price predictions for Rivian Automotive (NASDAQ:RIVN). You can find all of this at the following links!

More Wednesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/biontech-news-why-is-bntx-stock-up-today/.

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