Analyst Consensus ?
ConsensusBuy24 ratings
Bullish2083.3%
Neutral416.7%
Bearish00.0%
BioNTech SE · BNTX · FY2025 Q4 · Calendar Q1 2026
BioNTech beats revenue estimates as 2026 outlook shifts lower
BioNTech’s investment case is increasingly tied to whether its late-stage oncology pipeline and planned commercial build-out can offset declining COVID-19 vaccine revenue. Strong 2025 revenue and a substantial cash position support execution, but the lower 2026 revenue outlook and multiple clinical and leadership milestones make delivery uncertain.
Reported Before market openNASDAQHealthcare
$21.83B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$-0.38
Consensus $-0.22
EPS surprise
-72.7%
Reported versus consensus
Reported revenue
$1.07B
Consensus $902.3M
Revenue surprise
+18.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-17.9%
Event window
SPY move
-0.2%
Same window
Abnormal move
-17.7%
Stock minus SPY
Volume
20.2×
Versus trailing sessions
Subsequent drift
+9.8%
Up to 20 sessions
BNTXSPY benchmark
Ask FN2 about BNTX FY2025 Q4
Transcript, numbers and history already loaded
Why did BNTX fall 17.9% after missing EPS estimates in FY2025 Q4?What changed in BNTX's guidance and outlook in FY2025 Q4?Give me the bull and bear case for BNTX after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
The year-end update pairs 2025 revenue above the raised guidance with a lower 2026 revenue outlook tied to expected COVID-19 vaccine sales declines. Management also detailed plans for an independent mRNA-focused company while saying core mRNA assets and the vaccine franchise remain with BioNTech; the oncology strategy centers on advancing Pumitamig and other late-stage programs.
Guidance delta
Management’s 2026 revenue guidance is €2.0–2.3 billion, with the expected decline in COVID-19 vaccine sales cited as a driver. The supplied analysis says this guidance was lowered; it does not provide a directly comparable prior 2026 range.
Key takeaways
- 2025 revenue exceeded the company’s raised guidance, and the reported cash position was €17.2 billion.
- Pumitamig anchors a broad oncology plan that includes multiple Phase III and combination programs.
- BioNTech plans to form an independent mRNA-focused company while retaining its core mRNA assets and vaccine franchise.
- The 2026 revenue outlook is lower amid expected COVID-19 vaccine headwinds; execution now depends more heavily on oncology progress.
Management priorities
- Advance Pumitamig across its late-stage development plan and initiate pivotal combination trials.
- Move ADC and mRNA oncology programs forward, including planned clinical readouts.
- Build commercial, medical, and market-access capabilities for oncology launches.
- Establish the independent mRNA-focused company and continue integrating acquired assets.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$86.92Previous close
$81Low
$151.97Average
$359High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 4, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Canaccord Genuity | Buy | Buy | Maintain | Oct 14, 2026 |
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 7, 2026 |
| BMO Capital | Market Perform | Outperform | Downgrade | Sep 8, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Aug 5, 2026 |
| Citigroup | Buy | Buy | Maintain | Aug 5, 2026 |
| UBS | Buy | Neutral | Upgrade | May 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 6, 2026 |
| HC Wainwright & Co. | Buy | Buy | Maintain | Apr 27, 2026 |
| TD Cowen | Hold | Hold | Maintain | Mar 11, 2026 |
| Jefferies | Buy | Buy | Maintain | Mar 10, 2026 |
| Goldman Sachs | Buy | Neutral | Upgrade | Jan 16, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Oct 23, 2025 |
| B of A Securities | Buy | Buy | Maintain | Aug 5, 2025 |
| Truist Securities | Buy | Buy | Maintain | Jun 3, 2025 |
| HSBC | Buy | Buy | Maintain | Oct 7, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Sep 19, 2024 |
| HC Wainwright& Co. | Buy | Buy | Maintain | Jan 23, 2024 |
| Redburn Partners | Buy | Neutral | Upgrade | May 17, 2023 |
| SVB Leerink | Outperform | Outperform | Maintain | Jul 29, 2022 |
| Bryan Garnier | Buy | Neutral | Upgrade | Aug 11, 2021 |
| H.C. Wainwright | Neutral | Neutral | Maintain | Apr 13, 2020 |
| Wolfe Research | Outperform | Outperform | Maintain | Nov 5, 2019 |
| Berenberg | Buy | Buy | Maintain | Nov 4, 2019 |
| Bank of America | Buy | Buy | Maintain | Nov 4, 2019 |
Named analyst price targets
Upside is calculated against the persisted previous close $86.92. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Canaccord Genuity | Analyst unavailable | $132 | $89.01 | +51.9% | Oct 14, 2026 |
| Morgan Stanley | Terence Flynn | $114 | $95.63 | +31.2% | Oct 7, 2026 |
| Berenberg Bank | Analyst unavailable | $140 | $96.69 | +61.1% | Sep 16, 2026 |
| BMO Capital | Evan David Seigerman | $105 | $103.76 | +20.8% | Sep 8, 2026 |
| Canaccord Genuity | Analyst unavailable | $136 | $102.08 | +56.5% | Aug 31, 2026 |
| Canaccord Genuity | Analyst unavailable | $142 | $91.35 | +63.4% | Aug 5, 2026 |
| Morgan Stanley | Analyst unavailable | $119 | $94.29 | +36.9% | Jul 8, 2026 |
| UBS | Analyst unavailable | $135 | $92.25 | +55.3% | May 27, 2026 |
| Bernstein | Analyst unavailable | $96 | $90.93 | +10.4% | May 21, 2026 |
| Canaccord Genuity | Analyst unavailable | $158 | $95.5 | +81.8% | May 6, 2026 |
| Morgan Stanley | Terence Flynn | $126 | $93.38 | +45.0% | Apr 10, 2026 |
| BMO Capital | Evan David Seigerman | $128 | $90.52 | +47.3% | Mar 11, 2026 |
| Jefferies | Akash Tewari | $138 | $83.89 | +58.8% | Mar 10, 2026 |
| Truist Financial | Asthika Goonewardene | $155 | $83.89 | +78.3% | Mar 10, 2026 |
| Morgan Stanley | Analyst unavailable | $128 | $83.89 | +47.3% | Mar 10, 2026 |
| Leerink Partners | Analyst unavailable | $113 | $113.75 | +30.0% | Feb 2, 2026 |
| Goldman Sachs | Analyst unavailable | $142 | $106.07 | +63.4% | Jan 16, 2026 |
| Berenberg Bank | Harry Gillis | $155 | $95.68 | +78.3% | Dec 11, 2025 |
| H.C. Wainwright | Raghuram Selvaraju | $140 | $96.91 | +61.1% | Dec 11, 2025 |
| Morgan Stanley | Analyst unavailable | $134 | $103.96 | +54.2% | Nov 3, 2025 |
| Morgan Stanley | Terence Flynn | $131 | $104.48 | +50.7% | Oct 10, 2025 |
| Wells Fargo | Mohit Bansal | $150 | $111.07 | +72.6% | Aug 5, 2025 |
| Morgan Stanley | Terence Flynn | $133 | $112.26 | +53.0% | Jul 10, 2025 |
| Leerink Partners | Daina Graybosch | $112 | $113.1 | +28.9% | Jun 2, 2025 |
| Goldman Sachs | Asad Haider | $110 | $98.45 | +26.6% | May 29, 2025 |
| H.C. Wainwright | Robert Burns | $134 | $97.27 | +54.2% | May 14, 2025 |
| H.C. Wainwright | Analyst unavailable | $145 | $90.29 | +66.8% | Apr 1, 2025 |
| Evercore ISI | Cory Kasimov | $125 | $80.8 | +43.8% | Nov 19, 2024 |
| Leerink Partners | Daina Graybosch | $121 | $80.8 | +39.2% | Nov 13, 2024 |
| Goldman Sachs | Chris Shibutani | $137 | $110.66 | +57.6% | Nov 8, 2024 |
| BMO Capital | Etzer Darout | $126 | $108.97 | +45.0% | Nov 4, 2024 |
| Morgan Stanley | Terence Flynn | $145 | $113.05 | +66.8% | Sep 23, 2024 |
| Jefferies | Akash Tewari | $150 | $123.97 | +72.6% | Sep 17, 2024 |
| Bank of America Securities | Tazeen Ahmad | $150 | $123.4 | +72.6% | Sep 16, 2024 |
| Jefferies | Akash Tewari | $96 | $105 | +10.4% | Sep 13, 2024 |
| Deutsche Bank | Emmanuel Papadakis | $95 | $79.5 | +9.3% | Aug 6, 2024 |
| Morgan Stanley | Terence Flynn | $93 | $78.36 | +7.0% | Aug 5, 2024 |
| HSBC | Yifeng Liu | $101 | $82.01 | +16.2% | Aug 2, 2024 |
| H.C. Wainwright | Raghuram Selvaraju | $113 | $82.52 | +30.0% | Jun 26, 2024 |
| Evercore ISI | Cory Kasimov | $100 | $92.72 | +15.0% | May 13, 2024 |
| BMO Capital | Etzer Darout | $122 | $91.53 | +40.4% | May 7, 2024 |
| HSBC | Yifeng Liu | $90 | $91.83 | +3.5% | Mar 22, 2024 |
| Canaccord Genuity | William Maughan | $171 | $91.99 | +96.7% | Mar 21, 2024 |
| BMO Capital | Etzer Darout | $123 | $91.99 | +41.5% | Mar 21, 2024 |
| Goldman Sachs | Chris Shibutani | $91 | $91.99 | +4.7% | Mar 21, 2024 |
| Goldman Sachs | Analyst unavailable | $156 | $143.41 | +79.5% | Jan 31, 2023 |
| Leerink Partners | Mani Foroohar | $81 | $169.47 | -6.8% | Dec 2, 2022 |
| UBS | Andrew Ang | $168 | $159.8 | +93.3% | May 17, 2022 |
| Morgan Stanley | Matthew Harrison | $195 | $140.32 | +124.3% | May 10, 2022 |
| H.C. Wainwright | Robert Burns | $298 | $175.29 | +242.8% | Apr 16, 2022 |
| Canaccord Genuity | Arlinda Lee | $300 | $170.26 | +245.1% | Apr 10, 2022 |
| UBS | Eliana Merle | $170 | $147.5 | +95.6% | Jan 21, 2022 |
| Kempen & Co | Suzanne van Voorthuizen | $350 | $259.7 | +302.7% | Dec 22, 2021 |
| Leerink Partners | Daina Graybosch | $253 | $284.21 | +191.1% | Dec 9, 2021 |
| Bryan Garnier & Co Ltd | Olga Smolentseva | $359 | $248.9 | +313.0% | Oct 4, 2021 |
Track every rating change on BNTX the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationBioNTech SE, a biotechnology firm, specializes in the creation and marketing of immune-based treatments for malignancies and various infectious diseases. A significant part of its oncology pipeline includes the FixVac cancer vaccine program, which features several candidates in different phases of clinical development: BNT111 is in Phase 2 for advanced melanoma. BNT112 has reached Phase 1/2a for prostate cancer. BNT113 is undergoing Phase 2 investigation for HPV-positive head and neck cancers. BNT114 is in Phase 1 for triple-negative breast cancer. BNT115 is also in Phase 1, targeting ovarian cancer. BNT116 is a preclinical candidate for non-small cell lung cancer. The company also pioneers personalized therapies that target neoantigens, such as Autogene cevumeran (BNT122), which is in Phase 2 for first-line melanoma and Phase 1a/1b for a range of solid tumors.…
Historical context
All BNTX earningsHealthcare peers this season
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|---|---|---|---|---|
| PFE Pfizer Inc. | FY2026 Q3 · Calendar Q4 2026 | +18.4% | -2.2% | Pfizer raises 2026 revenue outlook as acquired portfolio expands |
| TEVA Teva Pharmaceutical Industries Limited | FY2026 Q3 · Calendar Q4 2026 | +19.4% | +3.0% | Teva raises FY2026 revenue guidance as innovative portfolio grows |
| FMS Fresenius Medical Care AG & Co. KGaA | FY2026 Q3 · Calendar Q4 2026 | -1.7% | -3.9% | Fresenius Medical Care: Q3 stability meets a lower 2026 outlook |
| RVTY Revvity, Inc. | FY2026 Q3 · Calendar Q4 2026 | +6.2% | +7.8% | Revvity raises FY2026 outlook after 7% organic Q3 growth |
| WAT Waters Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.5% | +2.3% | Waters posts double-digit organic growth, raises FY2026 revenue outlook |
| HSIC Henry Schein, Inc. | FY2026 Q3 · Calendar Q4 2026 | +0.7% | -4.8% | Henry Schein Raises FY2026 EPS Outlook After Volume-Led Dental Growth |
Latest beats and misses
Who reports nextBeat on EPS
- FTSFY2026 Q3 · November 3, 2026+4.8% EPS+0.7% move
- MPLXFY2026 Q3 · November 3, 2026+1.8% EPS-2.4% move
- AMEFY2026 Q3 · November 3, 2026+4.7% EPS+2.8% move
- BALLFY2026 Q3 · November 3, 2026+2.8% EPS-7.1% move
- RACEFY2026 Q3 · November 3, 2026+5.6% EPS+2.9% move
- MPCFY2026 Q3 · November 3, 2026+6.1% EPS-0.7% move
Missed on EPS
- TLNFY2026 Q3 · November 3, 2026-65.4% EPS+7.3% move
- APOSFY2026 Q3 · November 3, 2026-5.5% EPS-0.5% move
- TRIFY2026 Q3 · November 3, 2026-9.0% EPS-9.9% move
- APOFY2026 Q3 · November 3, 2026-5.5% EPS-4.9% move
- FMSFY2026 Q3 · November 3, 2026-1.7% EPS-3.9% move
- PSFY2026 Q3 · November 2, 2026-1.5% EPS+0.1% move
Get the BNTX recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-11-04T12:30:48.784017+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T12:30:48.781385+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-04. For educational purposes only; not investment advice.