What's Going On With Pfizer Stock?
Portfolio Pulse from Erica Kollmann
Pfizer, Inc. (NYSE:PFE) shares are trading higher by 4.5% after a 40% loss in 2023. The rise may be in sympathy with Moderna, Inc. (NASDAQ:MRNA), which received an upgrade from Oppenheimer and expects sales growth in 2025. Increased respiratory virus activity could boost demand for Pfizer's vaccines. Pfizer completed the acquisition of Seagen Inc. and provided 2024 revenue guidance below consensus estimates. PFE is trading above its 50-day moving average but below its 52-week high.
January 02, 2024 | 5:48 pm
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POSITIVE IMPACT
Moderna's stock is up nearly 15% after an upgrade from Oppenheimer to Outperform and expectations of sales growth in 2025, which may also be positively influencing Pfizer's stock.
Moderna's stock upgrade and positive sales outlook are significant for the company and may have a halo effect on Pfizer due to their similar market space. The immediate impact on Moderna's stock is evident, and the indirect impact on Pfizer is plausible given the sector correlation.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Pfizer's stock is trading higher, potentially due to Moderna's positive news and increased vaccine demand. The company completed the acquisition of Seagen and issued 2024 guidance below estimates.
Pfizer's stock is likely benefiting from Moderna's positive news, which can have a sector-wide impact. The acquisition of Seagen could provide long-term benefits, but the lower-than-expected 2024 guidance may temper investor enthusiasm in the short term. The stock's current position above the 50-day moving average is a positive technical indicator.
CONFIDENCE 80
IMPORTANCE 85
RELEVANCE 100