Pfizer (PFE) is on the move.
Up $1.33 a share to $51.58 intraday, the stock could race higher on two key catalysts.
One, Pfizer and BioNTech just received US FDA Emergency Use Authorization for its BA.4 – BA.5 COVID vaccine in children under five years. “On top of a persistent stream of COVID-19 cases, surging seasonal respiratory illnesses in young children are straining health systems across the U.S., with many states reporting more than 90% of their pediatric hospital beds are occupied. Updated COVID-19 vaccines may improve protection against severe illness and hospitalization caused by SARS-CoV-2 in this age group,” noted in a press release.
The US FDA also gave priority review for Pfizer RSV vaccine for older adults. “Pfizer in a statement on Wednesday said the FDA is going to review its application under the priority review program, which reduces the approval timeline by four months. The end of the review period is expected to be May.”
Technically, if the PFE stock can break above prior resistance around $51.85, where it is right now, it could test $53, even $54 a share shortly after. Keep in on radar. It could move.
Analysts like the PFE stock, as well. In mid-November, “Credit Suisse analyst Trung Huynh initiated coverage of Pfizer with an Outperform rating and $55 price target. Pfizer has been ‘impacted adversely’ following its COVID vaccine success, but his Outperform thesis is not predicated on a single asset, but a combination of pipeline advances that support growth,” as noted by TheFly.com.