BioNTech Share Price Forecast March 2022 – Time to Buy BNTX?
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Shares of BioNTech (NASDAQ: BNTX) are in the green today, after closing at $146.95 as of March 2nd (19:47 EST). BioNTech shares have been falling along with most other similar companies. However, the company’s performance over the last 12 months remains above the broader market. Much of this performance can be attributed to products such as the COVID-19 vaccine Comirnaty, which BioNTech developed in collaboration with Pfizer.
BioNTech – Technical Analysis
BioNTech’s financial statement indicated a market cap of 35.638 billion with total assets worth $16.495 billion. Revenue for 2020 was at $549.84 million with a profit margin of 3.15% compared to $121.54 million in 2019.
Oscillators such as Relative Strength Index (14)(38.58), Stochastic %K (14, 3, 3)(25.73), Commodity Channel Index (20)(−112.96), Average Directional Index (14)(33.00) and Awesome Oscillator(−16.64) are neutral. Moving averages such as Exponential Moving Average (10)(152.17), Simple Moving Average (10)(152.00), Exponential Moving Average (20)(159.59), Simple Moving Average (20)(160.70) and Exponential Moving Average (30)(168.90) are indicating a sell action.
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Recent Developments
Based out of Germany, BioNTech started its journey in 2008 and debuted in the US stock market in late 2019. Originally a relatively unknown company, BioNTech’s profile increased due to its coronavirus-related work. The company reported 6.1 billion euros in revenue during the third quarter of 2021. This is higher than the $67.5 million euros reported during the year-ago period. The company along with Pfizer has equal shares in the gross profits associated with sales of their vaccine.
BioNTech’s near term depends will depend on the vaccine maker bringing a vaccine that specifically targets the omicron variant. However, the demand for the vaccine remains to be seen. BioNTech’s collaboration with Crescendo will allow it to use Crescendo’s Humabody fully human heavy-chain antibodies in developing immunotherapies. As part of the deal, BioNTech is paying $40millon, divided into cash and part as an equity investment in the small company. Crescendo will be eligible for development, regulatory, and commercial milestone payments. These are worth almost $750 million, along with tiered royalties on any potential future sales of products.
BioNTech started nine clinical trials last year across its oncology portfolio, which included phase 2 studies. The vaccine maker has a total of 19 oncology programs, most of which are internally funded. Any positive news from this can send BioNTech shares soaring, especially since it has a balance sheet full of cash and promising programs. BNT111, a potential therapeutic vaccine for melanoma is currently one of BioNTech’s most promising programs. A phase 2 clinical trial for BNT111 in June was conducted. It received Fast Track Designation, normally reserved for products that address a serious and unmet need.
Should You Buy BNTX Shares?
BioNTech shares have decreased by almost 42% in this year alone. This was largely due to marketwide issues around impending interest hikes in the U.S. But investors also need to consider the end of the biotech’s coronavirus tailwind. Various analysts are of the opinion that BioNTech will face difficult year-over-year comparisons, such as from next year, which could be disastrous for BioNTech shares.
On the other hand, BioNTech has the required factors to keep it successful. It has substantial finances to fund clinical studies without relying on dilutive forms of financing as well as a pipeline full of promising candidates. Considering this, BioNTech shares are worth buying for investors who are willing to hold on to them for the next couple of years.
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