Pfizer (PFE)

Dec 27, 2022Trade Ideas

Recent weakness in Pfizer (PFE) looks interesting.

In fact, after dropping from about $55 to $51.83, the stock appears to have caught strong support. From here, we’d like to see it refill its gap around $55, and head to $60.

Helping, the US FDA just granted PFE fast track designation for a single-dose COVID and flu vaccine. “The candidate provides protection against the BA.4/BA.5 Omicron sublineages and four different influenza strains — as recommended for use in the northern hemisphere by the World Health Organization,” says Barron’s.

We’re also hearing about rising COVID and influenza across the U.S.

And, “Since the onset of the pandemic, the federal government paid for all Covid-19 vaccine doses distributed in the U.S. That’s set to change next year, as vaccines enter the commercial market,” added Barron’s. “Pfizer has said it expects to charge between $110 and $130 per adult dose, while Moderna has discussed a price between $64 and $100. Those prices are sharply higher than the rates the companies have been charging the U.S. government—around $30 for Pfizer’s updated vaccine, and about $26 for Moderna’s version.”

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