Is This Battered Growth Stock Still a Buy After Its Latest Stumble?
After reporting worse than anticipated second-quarter earnings on Aug. 8, shares of BioNTech (NASDAQ: BNTX) are tumbling, deepening the stock's decline to 65% over the last 12 months. The culprit is the biotech's lackluster sales of Comirnaty, its coronavirus vaccine developed in conjunction with Pfizer. With its future jab sales uncertain at best, it could have a rough ride for the rest of the year and beyond.
But does that make its long-term prospects any less appealing to investors, and is there any chance of a recovery in the near term? Let's address the first question to start.
The bottom line for investors is that the recent weakness in Comirnaty sales doesn't have much to do with the stock's potential over the next decade. But, it does indicate that the biotech stock's next few years are likely to be unrewarding for shareholders compared to the past few.
Source Fool.com
