Pfizer stock has gained approximately 28%, 19%, and 12% in the past year, YTD, and three months respectively through last Friday.
In an interview with media outlet ABC during the weekend, Pfizer Inc (NYSE: PFE) CEO Albert Bourla said we will be able to go back to normal life in a year. Pfizer stock, one of the greatest beneficiaries of the ongoing coronavirus pandemic, is expected to continue climbing should the demand for vaccines prevail. Moreover, Bourla added that the likely scenario is the need for annual coronavirus vaccine shots, depending on the data to come.
Pfizer stock has gained approximately 28%, 19%, and 12% in the past year, YTD, and three months respectively through last Friday. However, PFE shares are down approximately 5.71% in the past month according to market analytics provided by MarketWatch.
According to him, returning to normal does not guarantee safety from the Covid variants. “I don’t think that this means that the variants will not continue coming, and I don’t think that this means that we should be able to live our lives without having vaccinations,” Bourla said. “But that, again, remains to be seen.”
With that level of uncertainty, Wall Street analysts are not sure of what to expect with PFE and other Covid vaccines stock in the foreseeable future. According to a survey conducted by MarketWatch, PFE stock received an average rating of Hold from 20 ratings. Indicating a higher level of uncertainty compared to the same time last year.
Notably, Pfizer stock traded around $43.94 at the time of reporting, having maintained the same value as of last Friday’s close. The future growth prospects for the Pfizer stock market and other Covid vaccines stocks remain highly speculative and under unconventional conditions.
Will PFE Stock React to the Words of Pfizer CEO?
Pfizer has developed one of the successful vaccines that have been approved in most jurisdictions across the world. Recently, the company announced that it will have kids vaccines for the coronavirus in days.
The kids’ vaccines are expected to add in the company’s portfolio, which in turn would reciprocate higher revenue earnings.
Notably, the company reported a revenue of $19 billion during the second quarter. Additionally, the company noted that its diluted earnings per share was $0.98, against an adjusted diluted EPS of $1.07.
Worth noting, the company raised its full-year guidance for its revenue, whereby it said the revenue should come in between $78.0 to $80.0 Billion and Adjusted Diluted EPS(3) to a Range of $3.95 to $4.05.
With a high efficacy rate observed in adults, the company anticipates scaling up its vaccine production to meet global demand.