The German technology Biontech , Pfizer’s partner in the development of its vaccine , has appreciated more than 31% in the last month thanks to advances in its treatment and in the wake of the momentum generated by its rivals.
Since its departure to the US technology industry benchmark, Nasdaq, in October 2019, the company’s rally is 709%. It debuted at a price of $ 13.82 per title. Only in the accumulated of 2020 it registered an advance of 215%. Its current price exceeds $ 120 per share, hovering around the highest levels reached last week, when it exceeded $ 124 per share.
The race for the vaccine, key
However, it should not be forgotten that the race for the Covid vaccine is not yet finished, which could have an impact on the price of shares in the medium term. At least that’s how the market considers it. Where are the Pfizer and Biontech vaccine?
The United Kingdom showed the latest developments around the vaccine this Wednesday by announcing the approval of its vaccine. By 2020 and 2021, the country has already closed the supply of 40 million doses
The Pfizer and BioNTech vaccine was 90% effective. Its approval in Europe is pending the review issued by the European Medicines Agency (EMA) on December 29
In the United States it could be approved next week, following the meeting of the Food and Drug Administration (FDA) on the 10th
JP Morgan maintained its position towards neutral in its last revision. According to the consensus gathered by Bloomberg, Biontech has 5 buy recommendations compared to 6 to hold and one sale, while the estimated price for the next twelve months is much lower than the current one, of $ 97.90.
Only analysts like the German bank Commerzbank give it a higher price than the current one, triggering their forecasts to $ 134 per share.
Returns of up to 455%
However, analysts value the high returns of the German technology company. Continuing with JP Morgan, the US investment banking giant points out that it has given it a return of 320% in the year. However, it does not serve to improve its estimated price, which stands at $ 90, even below the consensus.
Other analysis firms such as Wolfe Research or Canaccord report that the profitability of the stock rises to 455%, while others such as Kempen or SVB Leerink give it between 53% and 59%. The market consensus collected by Bloomberg places the potential return on their securities for next year at -19.1%.
