BioNTech SE · BNTX · FY2026 Q2 · Calendar Q3 2026

BioNTech pivots toward oncology as vaccine demand weakens

BioNTech’s oncology pipeline and partnerships are central to its effort to offset falling COVID-19 vaccine revenue. The case depends on late-stage trial progress and execution as guidance has been reduced.

Reported Before market openNASDAQHealthcare $21.83B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $-3.70 Consensus $-2.40
EPS surprise -54.3% Reported versus consensus
Reported revenue $120.6M Consensus $180.2M
Revenue surprise -33.1% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -1.0% Event window
SPY move +1.8% Same window
Abnormal move -2.8% Stock minus SPY
Volume 2.5× Versus trailing sessions
Subsequent drift +11.6% Up to 20 sessions
BNTXSPY benchmark

Ask FN2 about BNTX FY2026 Q2

Transcript, numbers and history already loaded
Why did BNTX fall 1.0% after missing EPS estimates in FY2026 Q2?What changed in BNTX's guidance and outlook in FY2026 Q2?Give me the bull and bear case for BNTX after FY2026 Q2 earnings.

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Transcript intelligence

What changed

Management emphasized a tumor-focused, multiproduct oncology strategy, appointed Guido Oelkers as CEO, and outlined multiple Phase III programs. It also cited continued pressure on vaccine revenue and milestone timing as reasons for lower full-year revenue expectations.

Guidance delta

Management lowered full-year 2026 revenue guidance to €1.6–1.9 billion, citing reduced COVID-19 vaccine demand and delayed milestone payments.

Key takeaways

  • Oncology development is the strategic focus, with pumitamig, gotistobart, LCD and T-Pam among the late-stage programs discussed.
  • Management described several Phase III trials and anticipated further clinical milestones.
  • Lower COVID-19 vaccine revenue and delayed milestones weighed on the outlook.
  • The transcript analysis cited cash reserves and partnerships as support for continued research and development.

Management priorities

  • Advance Phase III programs for pumitamig across multiple cancer types.
  • Progress the gotistobart, LCD, BNT113 and T-Pam clinical programs.
  • Continue development of mRNA cancer vaccine programs and partnered assets.
  • Scale the business under new CEO Guido Oelkers.

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Earnings History

Estimate Beat Miss Match
BNTX EPS earnings history estimate and actual scatter chart 10 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 estimate $2.62 Q4 '23 actual $2.06, miss Q1 '24 estimate $-0.82 Q1 '24 actual $-1.42, miss Q2 '24 estimate $-2.16 Q2 '24 actual $-3.62, miss Q3 '24 estimate $-1.26 Q3 '24 actual $0.89, beat Q2 '25 estimate $-2.69 Q2 '25 actual $-1.82, beat Q3 '25 estimate $-1.12 Q3 '25 actual $-0.14, beat Q4 '25 estimate $-0.22 Q4 '25 actual $-0.38, miss Q1 '26 estimate $-2.54 Q1 '26 actual $-2.43, beat Q2 '26 estimate $-2.40 Q2 '26 actual $-3.70, miss Q3 '26 estimate $0.76 Q3 '26 actual $2.03, beat Q4 '26 estimate $-1.33 Q1 '27 estimate $-3.31 Q2 '27 estimate $-3.43 Q3 '27 estimate $-0.60
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Analyst Consensus ?

ConsensusBuy24 ratings
Bullish2083.3%
Neutral416.7%
Bearish00.0%

Analyst 52W Price Targets

$86.92Current
$81Low
$151.97Average
$359High

Latest persisted target per named analyst; persisted current price 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.

FirmRatingPrior ratingActionDate
Canaccord Genuity Buy BuyMaintainOct 14, 2026
Morgan Stanley Overweight OverweightMaintainOct 7, 2026
BMO Capital Market Perform OutperformDowngradeSep 8, 2026
Evercore ISI Group Outperform OutperformMaintainAug 5, 2026
Citigroup Buy BuyMaintainAug 5, 2026
Show 19 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $86.92. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
Canaccord GenuityAnalyst unavailable$132$89.01 +51.9%Oct 14, 2026
Morgan StanleyTerence Flynn$114$95.63 +31.2%Oct 7, 2026
Berenberg BankAnalyst unavailable$140$96.69 +61.1%Sep 16, 2026
BMO CapitalEvan David Seigerman$105$103.76 +20.8%Sep 8, 2026
Canaccord GenuityAnalyst unavailable$136$102.08 +56.5%Aug 31, 2026
See 50 more

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Company context

Snapshot as of publication

BioNTech 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 earnings
-0.7%FY2026 Q3 · Calendar Q4 2026

Healthcare peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
PHG Koninklijke Philips N.V. FY2026 Q3 · Calendar Q4 2026 +24.3% +3.2% Philips Q3: Orders Rise and Margin Expands; Full-Year Outlook Unchanged
PFE Pfizer Inc. FY2026 Q3 · Calendar Q4 2026 — -2.0% Pfizer raises 2026 guidance as launched portfolio growth offsets longer-term pressures
TEVA Teva Pharmaceutical Industries Limited FY2026 Q3 · Calendar Q4 2026 — +3.3% Teva’s innovative portfolio grows as revenue guidance rises
FMS Fresenius Medical Care AG & Co. KGaA FY2026 Q3 · Calendar Q4 2026 — -3.6% Fresenius Medical Care cuts 2026 outlook as cost and reimbursement pressure persist
RVTY Revvity, Inc. FY2026 Q3 · Calendar Q4 2026 — +10.8% Revvity Raises FY2026 Outlook After 7% Q3 Organic Growth
WAT Waters Corporation FY2026 Q3 · Calendar Q4 2026 — +3.8% Waters Raises FY2026 Revenue Outlook as Organic Growth Accelerates

Latest beats and misses

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Sources

  1. Earnings call transcript and parsed analysis · 2026-08-05T18:10:20.125836+00:00
  2. FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
  3. Polygon adjusted daily market bars · 2026-11-04T02:00:43.775803+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-04T02:00:43.773021+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.