BioNTech SE’s shares surged 22% on Wednesday, capping a session that saw the stock briefly touch a 52-week intraday low of $79.52 before rebounding to close at $113.12.
The rally followed rising expectations that U.S. regulators may approve the company’s updated XFG variant-adapted COVID-19 vaccine for the 2026-2027 vaccination season. BioNTech and partner Pfizer submitted the vaccine to the FDA for review, while the European Commission granted approval in July 2026.
The stock’s 17.5% intraday gain marked a sharp recovery from prior losses, with shares now trading near levels last seen in early 2025. Analysts at Morgan Stanley maintained a Buy-equivalent rating on the stock, while Citi reiterated its Buy call with a $125 price target, implying roughly 10% upside from current levels. The average analyst target stands at $120.74, according to available consensus data.
BioNTech’s oncology pipeline also contributed to investor optimism, with pivotal trial readouts expected in the second half of 2026 for therapies such as pumitamig in first-line non-small cell lung cancer and gotistobart in platinum-resistant ovarian cancer. The company’s $16.6 billion cash reserve provides a substantial buffer against near-term funding needs, despite ongoing losses.
The broader market showed modest gains, with the S&P 500 up 0.4% at 7,708.35, the Dow Jones adding 0.3% to 53,463.05, and the Nasdaq up 0.1% at 26,331.09.
