BioNTech Stock Pops On Massive Earnings Beat; Company Looks Beyond Covid

BioNTech stock popped on Monday after the Covid vaccine maker reported adjusted profit of $12.67 per share on $6.24 billion in second-quarter sales.

Analysts polled by FactSet expected BioNTech to earn $8.87 per share on $3.83 billion in sales.

In the year-earlier period, BioNTech lost 45 cents per share and reported $49 million in revenue.

BioNTech didn't offer full-year sales and earnings guidance. The company noted it has agreements in place to deliver 2.2 billion doses of its Covid vaccine in 2021, and is now working on multiple cancer drugs. Analysts called for the Pfizer partner to earn $33.12 a share on $14.68 billion in sales.

In premarket trading on today's stock market, BioNTech stock jumped 5% near 408.50. Shares have a perfect Relative Strength Rating of 99, according to IBD Digital. This puts BioNTech stock in the top 1% of all companies in terms of 12-month performance.