Company / Analytics

Analytics, 03 November 2021

Pfizer’s Moonshot earnings and Outlook

The third-quarter earnings season is continuing this week and in addition to energy companies, the market has been focused on healthcare sectors notably, pandemic names Pfizer and Moderna.

Pfizer reported released impressive earnings on Tuesday after the market closed, showing how the pandemic has made it one of the best in-return pharma companies listed across the globe.

Pfizer was the first company to receive full approval from the U.S Food and Drug Authority (FDA) approval for its Covid-19 vaccine. It also received emergency approval last Friday from the FDA to provide its vaccine to children between the ages of 5 to 11.

Pfizer’s Moonshot.

Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine.

Financials showed that the company continues to reap benefits out of the pandemic and now stands out as one of the best in-return pharma companies listed across the globe.

Commentary

Pfizer’s shares were up 4% during after-hours trading on Tuesday at $45.45 per share and are expected to maintain an upward trajectory until when the full-year results are released. Shares were trading at USD 44.56, down by about 2% at the time of writing on Wednesday.

Pfizer’s results could provide an extra clue to other Pharma companies due to release their financials this week with a greater highlight on Moderna Inc who’s results are due on Thursday.

Should I buy Pfizer shares?

The current consensus among 21 polled investment analysts is to hold stock in Pfizer Inc. This rating has held steady since November when it was unchanged from a hold rating. Meanwhile, 18 analysts offering 12-month price forecasts for Pfizer Inc have a median target of 46.00, with a high estimate of 61.00 and a low estimate of 39.00. The median estimate represents a +2.79% increase from the last price of 44.75.

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