BioNTech SE ADR

BNTX: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$636.00	Bxjv	Xqwtdmzx

BioNTech Earnings: Covid Vaccine Revenue Takes a Back Seat to Advancing Oncology Pipeline

Karen Andersen

Aug 5, 2024

We’re maintaining our $143 per ADR fair value estimate for BioNTech following second-quarter results that put the firm on track to meet our full-year expectations. BioNTech reported EUR 129 million in revenue in the second quarter at the low point of seasonal demand for covid vaccines, and we still anticipate that the firm will see EUR 2.5 billion in revenue tied to covid vaccine sales and pandemic preparedness for the full year, which is at the low end of management’s reiterated guidance.

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