Is BioNTech Stock a No-Brainer Buy on the Dip?
The company is coming back into the spotlight thanks to recent developments.
Overview
BioNTech (NASDAQ: BNTX) has lagged the market this year. The company's shares have climbed just 6% as of writing, compared with the S&P 500's 12% gain. The biotech's performance looks even worse once we zoom out. Over the past five years, BioNTech has lost 70% of its value. Could BioNTech bounce back soon, or is the company more likely to continue sinking over the next few years? Let's find out whether it's time to buy the stock after years of underperformance.
Image source: Getty Images.
BioNTech developed Comirnaty, a leading coronavirus vaccine, in combination with Pfizer (NYSE: PFE). This product was highly popular in the first few years of the pandemic. It generated almost $38 billion in sales at its peak and helped BioNTech post strong financial performances. However, the pandemic waned, demand for the vaccine declined, and some governments made it harder for people to get vaccinated. As a result, Comirnaty's sales have been unimpressive over the past few years.
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Originally published at www.fool.com.