Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.
BioNTech's Big Run: One company that has been a tremendous investment in the past two years has been biotech stock BioNTech SE - ADR (NASDAQ:BNTX).
BioNTech’s claim to fame in the past two years has been its COVID-19 vaccine partnership with pharma giant Pfizer Inc. (NYSE:PFE). While Pfizer’s shares have lagged in the past two years due in part to uncertainty surrounding the remainder of the company’s product pipeline, BioNTech shares have soared thanks to demand for its vaccine and booster shots.
At the beginning of 2020, BioNTech shares were trading at around $36. By the beginning of March, the stock was trading at $35.01 as news of the coronavirus spreading in China prompted concerns about a U.S. pandemic. BioNTech shares hit their 2020 low of $28 on March 12, 2020.
Related Link: If You Invested $1,000 In Pfizer Stock At Its Pandemic Low, Here's How Much You'd Have Now
When the market crashed during the U.S. pandemic outbreak later that month, BioNTech shares understandably soared along with a handful of other companies that began working on developing vaccines to fight COVID-19.
By July, BioNTech shares were up near $105 on vaccine optimism and positive initial developments. The stock stalled there while BioNTech and other competitors raced to win the vaccine testing and approval race.
BioNTech shares jumped to $115 on massive volume in November when the company announced its COVID-19 vaccine was more than 90% effective in late-stage trials. The rally continued in December 2020 when BioNTech’s vaccine was the first candidate to officially get the green light from the FDA.
BioNTech In 2022, Beyond: The stock continued to rip higher in the first half of 2021 on news of international expansion, child vaccination approvals and additional booster shots. BioNTech shares hit an all-time high of $464 In August 2021, but have since pulled all the way back to $146.85.
Still, investors who bought BioNTech on the day it hit its 2020 pandemic low and held on have generated a huge overall return on their investment. In fact, $1,000 in BioNTech stock bought on March 12, 2020, would be worth about $5,144 today, assuming reinvested dividends.
Looking ahead, analysts are expecting BioNTech's stock to bounce back again in the next 12 months. The average price target among the 13 analysts covering the stock is $247.54, suggesting 68.5% upside from current levels.
