Strength Seen in BioNTech (BNTX): Can Its 6.0% Jump Turn into More Strength?

BioNTech SE Sponsored ADR (BNTX) shares ended the last trading session 6% higher at $102.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3% loss over the past four weeks.The sudden increase in the stock price can be attributed to the growing investor optimism about the company’s set of novel pipeline candidates being developed for treating various oncological indications and other serious diseases.This company is expected to post quarterly loss of $2.33 per share in its upcoming report, which represents a year-over-year change of -64.1%. Revenues are expected to be $149.92 million, down 26.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For BioNTech, the consensus EPS estimate for the quarter has been revised 13.8% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BNTX going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>BioNTech belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, ProQR (PRQR), closed the last trading session 5.4% higher at $1.18. Over the past month, PRQR has returned -33.7%.For ProQR, the consensus EPS estimate for the upcoming report has changed -15.6% over the past month to -$0.09. This represents a change of +10% from what the company reported a year ago. ProQR currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BioNTech SE Sponsored ADR (BNTX): Free Stock Analysis Report ProQR Therapeutics N.V. (PRQR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks