Why BioNTech Shares Are Trading Higher Today

BioNTech SE BNTX is trading higher Tuesday in sympathy with Pfizer Inc PFE after the company reported better-than-expected third-quarter financial results.

Pfizer reported quarterly earnings of $1.34 per share, which beat the estimate of $1.09 per share. The company reported quarterly revenue of $24.1 billion, which beat the estimate of $22.71 billion.

Pfizer raised full-year 2021 adjusted earnings guidance from a range of $3.95 to $4.05 per share to a range of $4.13 to $4.18 per share. The company raised its full-year 2021 revenue guidance from a range of $78 billion to $80 billion to a range of $81 billion to $82 billion.

Related Link: Why Pfizer Shares Are Rising Today

BioNTech is a Germany-based biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19. Pfizer and BioNTech co-developed a COVID-19 vaccine. 

BNTX Price Action: BioNTech has traded as high as $464 and as low as $80.55 over a 52-week period.

The stock was up 1.92% at $279.58 at time of publication.

Photo: x3 from Pixabay.