Skip to Content
Morningstar
Get 14 Days Free

BioNTech SE ADR BNTX

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in USD
Is it the right time to buy or sell?
Find out with Morningstar Premium
Is it the right time to buy or sell?
Find out with Morningstar Premium

1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Stewardship

PREMIUM

Raising Our BioNTech FVE on COVID-19 Vaccine Profits, but Long-Term Vaccine Outlook Remains Hazy

Anna Baran Equity Analyst

Analyst Note

| Anna Baran |

After analyzing recent developments in the evolving COVID-19 vaccine landscape, we’ve added BioNTech’s vaccine candidate to our model with a 60% probability of success. On a probability-weighted basis, we model about EUR 3.6 billion in 2021 revenue or EUR 2.4 billion in 2021 gross profits for BioNTech. After accounting for probability-weighted milestones to BioNTech and development costs that the company will pay back to Pfizer, we’re raising our fair value estimate to $56 per ADR from $40 and maintaining our no-moat and very high uncertainty ratings.

Read Full Analysis

Company Profile

Business Description

BioNTech is a Germany-based biotechnology company that focuses on developing cancer therapeutics, including individualized immunotherapy, as well as vaccines for infectious diseases, including COVID-19. The company's oncology pipeline contains several classes of drugs, including mRNA-based drugs to encode antigens, neoantigens, cytokines, and antibodies; cell therapies; bispecific antibodies; and small-molecule immunomodulators. BioNTech is partnered with several large pharmaceutical companies, including Roche, Eli Lilly, Pfizer, Sanofi, and Genmab, and does not yet have any commercialized medicines.

Contact
An der Goldgrube 12
Mainz, D-55131, Germany
T +49 613190840
Sector Healthcare
Industry Biotechnology
Most Recent Earnings Mar 31, 2020
Fiscal Year End Dec 31, 2020
Stock Type —
Employees 1,310

Related

Stock Strategist Industry Reports
Innovation Supports Growth at Big Pharma/Big Biotech Companies
Moats and returns on invested capital look stable for companies with a solid list of pipeline drugs.
Damien Conover
Stock Analyst Update
We Raise Our Fair Value for BioNTech Vaccine Profits
We have added the firm's vaccine candidate to our model with a 60% probability of success.
Anna Baran
Commentary
The Week Ahead: Pfizer, Facebook, Google, and Apple to Report Earnings
Earnings from big names in industrials, consumer cyclical, finance, and more are also on the calendar for next week.
Carole Hodorowicz
Stock Analyst Update
Positive News From COVID-19 Vaccines Don't Change FVEs
Despite encouraging updates from AstraZeneca and BioNTech/Pfizer, we maintain our fair value estimates.
Karen Andersen
Stock Strategist Industry Reports
Timeline Accelerates for COVID-19 Drug Development
Three new vaccines for coronavirus look poised for emergency use authorization in the U.S. this fall.
Karen Andersen
Stock Analyst Update
Pfizer, BioNTech COVID-19 Vaccines Fast Tracked by FDA
We expect no-moat BioNTech and wide-moat Pfizer to move one of the test candidates into the next phase, planned to start as early as this month.
Anna Baran
Stock Analyst Update
BioNTech and Pfizer Report Good News From Vaccine Trial
A long road lies ahead as the trial continues, but we are maintaining our fair value estimates for the two healthcare firms.
Anna Baran
Stock Strategist
All Eyes on BioNTech's COVID-19 Vaccine
But the entire pipeline merits attention.
Anna Baran
Stock Strategist Industry Reports
Coronavirus Vaccine Progress Accelerates
Diagnostic testing, treatment, and a coronavirus vaccine could allow near-normal distancing and nonessential business recovery by mid-2021.
Karen Andersen
Fund Spy
Primecap Can Ride Out Its Airline Stocks' Turbulence
The firm has been here before.
Alec Lucas
Stock Strategist Industry Reports
Morningstar's View: The Impact of Coronavirus on the Economy
The hit to 2020 should be significant, but we see minimal long-term economic impact, and the treatment pipeline is progressing.
Karen Andersen