BioNTech Shares Surge on Regulatory Win and Analyst Confidence

A significant regulatory decision from U.S. health authorities sparked a notable rally for BioNTech stock on Monday, with shares climbing nearly 3%. This surge was further bolstered by a major investment bank raising its price target, prompting speculation about a potential turnaround for the vaccine developer’s recently underperforming equity.

Providing substantial momentum, JP Morgan increased its price objective for BioNTech to $121. This new target, set from a current trading level around $102, indicates a belief in considerable upside potential. The positive sentiment is echoed by HC Wainwright & Co., which maintains a Buy rating and an even more optimistic $136 price target.

The primary catalyst for the upward move was a Friday evening decision by a key committee advising the... Read more...