BioNTech Share Price Forecast November 2021 – Time to Buy BNTX?
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Shares of German biotechnology company BioNTech (NASDAQ: BNTX) are in the green today, closing at $362.52 as of November 29th (22:56 EST). The shares of the company were up by 4% in late afternoon trading, caused by renewed investor enthusiasm for COVID vaccine makers after the Omicron variant of the virus was discovered.
BioNTech – Technical Analysis
According to BioNTech’s financial statement, the market cap of the company currently sits at $87.917 billion with total assets worth $16.495 billion at the time of writing. Revenue for 2020 was at $549.84 million with a profit margin of 3.15% compared to $121.54 million in 2019.
Moving averages for BioNTech such as Simple Moving Average (10)(299.02), Exponential Moving Average (20)(290.28), Simple Moving Average (20)(275.92), Exponential Moving Average (30)(285.52) and Simple Moving Average (30)(276.84) are indicating a buy action. Oscillators such as Stochastic RSI Fast (3, 3, 14, 14)(93.90), Williams Percent Range (14)(−7.99), Bull Bear Power(120.58) and Ultimate Oscillator (7, 14, 28)(67.42) are neutral.
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Recent Developments
BioNTech has been publicly trading American Depository Shares (ADS) on the NASDAQ Global Select Market since 10 October 2019 generating proceeds of 150 million dollars from the IPO.BioNTech received a €375 million grant from the German Federal Ministry of Education and Research (BMBF) for accelerating the development of the COVID-19 vaccine. The company also announced plans that it would open a new HQ in Singapore for Asia and will work on opening a vaccine manufacturing plant there, with support from the Singapore Economic Development Board.
Worldwide health authorities still don’t have much information about the new Omicron variant. However, the World Health Organization (WHO) has labelled it as a “very high” risk, with studies being conducted to earn more. BioNTech is one of those companies at the forefront of this report. It has reportedly begun working on a vaccine specifically tailored to prevent omicron. Whether or not this will be a modified version of the existing Comirnaty vaccine is developed in partnership with U.S. pharmaceutical sector giant Pfizer is not known yet.
The company has delivered over 2 billion jabs in 2021 and has also been focusing on other diseases malaria, HIV, and tuberculosis. As revealed in the company’s third-quarter results, it has recorded a revenue of about 6.1 euros with a net profit of 3.2 billion euros. The company is still owed cash from Pfizer for the above-mentioned vaccine. BioNTech has started a phase 1 clinical trial with a quadrivalent mRNA vaccine for the flu with Pfizer and a phase 2 trial of BMT122 in colorectal cancer.
Should You Buy BNTX Shares?
BioNTech, like some of its peers, have more than tripled investors money in 2021. Its tremendous gains have been primarily possible due to the success of Comirnaty, the COVID-19 vaccine that BioNTech markets with Pfizer. Comirnaty has picked up authorizations and approvals in every country where BioNTech and Pfizer have submitted regulatory filings so far. The shares could move higher if annual boosters are required, albeit not nearly at this year’s pace.
However, investors also have to consider the risk of decreasing demand for the vaccines, which will only be accelerated with the availability of oral COVID-19 therapies, including Pfizer’s Paxlovid. The company doesn’t have any other products in its pipeline. But it has several products undergoing phase 2 testing, two of which it has developed in partnership with Roche. Thus investors would be wise to look at how the situation regarding the new variant develops before making any investment decisions.
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