Pfizer is pushing to higher highs.
In fact, as we noted on November 2, “After finding support around $41, the vaccine stock bolted to nearly $46, and could test $47, even $50, near-term. All after the company raised its full-year sales forecast to $36 billion, as it signed deals for booster doses. The stock could push even higher on a US CDC vote.”
Today, the PFE stock is up $3.34 to $47.19 – and could see $50 shortly.
All on news its antiviral pill cuts the risk of severe COVID by up to 89%.
According to Reuters, “The results appear to surpass those seen with Merck & Co Inc’s pill molnupiravir, which was shown last month to halve the likelihood of dying or being hospitalized for COVID-19 patients also at high risk of serious illness.”
We expect to see further momentum in PFE, especially with cases mounting around the world again. “The World Health Organization expressed “grave concern” over the rising pace of coronavirus infections in Europe, as Germany registered its biggest daily increase since the start of the pandemic,” according to France24.
There are even reports of new lockdowns throughout China.
“As the Delta variant puts China through one of its biggest Covid-19 outbreaks since it first closed off Wuhan in early 2020, new lockdowns and other strict controls are rippling across the country. Infections have been spreading to more provinces, though nationwide reported case numbers remain below 100 a day so far,” according to The Wall Street Journal.