BioNTech (NASDAQ:BNTX) has teamed up with the State of Victoria, Australia over the development of vaccines and therapies based on mRNA.
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The partners will establish an R&D unit in Melbourne, which will aid in moving academic developments into clinical developments.
The company plans to bolster its development activities in the country and is aiming to set up a BioNTainer facility in Melbourne as well.
Is BioNTech Stock a Buy Right Now?
Overall, Wall Street remains cautiously optimistic about BioNTech stock, with a Moderate Buy consensus rating based on four Buys and five Holds.
Nonetheless, the average price target of $215.78 points to a massive 57.33% upside potential in BNTX stock. That’s after a 43.6% slide in the share price over the past year.
