• <nav id="ycwek"></nav>
  • <menu id="ycwek"><tt id="ycwek"></tt></menu>
    <nav id="ycwek"><strong id="ycwek"></strong></nav>
  • Market Overview

    Pfizer Analyst: Coronavirus Vaccine Moving Closer To Emergency Use Authorization

    Pfizer Analyst: Coronavirus Vaccine Moving Closer To Emergency Use Authorization

    Although the details of interim data from the Phase 3 trials of Pfizer Inc’s (NYSE: PFE) COVID-19 vaccine study rea unclear, the results represent “a solid win” for the company, according to BofA Securities.

    The Pfizer Analyst: Geoff Meacham maintained a Neutral rating on Pfizer with an unchanged $39 price target. 

    The Pfizer Thesis: The company reported positive interim data Monday for BNT162b2, which is being developed in partnership with BioNTech SE (NASDAQ: BNTX).

    The data indicates that the compound was more than 90% effective in preventing COVID-19 after the administration of a booster, Meacham said in a note. 

    “While there was optimism the vaccine would demonstrate some efficacy given the positive Phase 2 trends, the efficacy level strongly exceeds the 60%-70% threshold many had considered to be the best case scenario,” the analyst said. 

    Many unknowns remain, including whether Pfizer's vaccine prevents severe cases and whether it lowers hospitalization and mortality rates, he said. 

    "Nor is it clear whether it prevents COVID19 transmission … or what the safety profile is, a key aspect of the product profile that will likely strongly influence uptake, especially with measurable segments of the population skeptical of vaccines."

    These and other efficacy readouts will be in focus as Phase 3 trials continue, Meacham said, adding that he expects emergency use authorization "to follow in the coming weeks." 

    PFE Price Action: Pfizer shares were up 9.86% at $39.99 at last check Monday. 


    Related Articles (PFE + BNTX)

    View Comments and Join the Discussion!

    Posted-In: Analyst Color Biotech Health Care Price Target Reiteration Analyst Ratings Movers Trading Ideas

    Latest Ratings

    CCSSusquehannaInitiates Coverage On54.0
    SNPSCredit SuisseMaintains265.0
    SNOWCredit SuisseMaintains265.0
    NACredit SuisseMaintains76.0
    View the Latest Analytics Ratings
    Don't Miss Any Updates!
    News Directly in Your Inbox
    Subscribe to:
    Benzinga Premarket Activity
    Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
    Market in 5 Minutes
    Everything you need to know about the market - quick & easy.
    Fintech Focus
    A daily collection of all things fintech, interesting developments and market updates.
    Thank You

    Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com