Excellent sales of its Covid-19 vaccine offers a major boost to Pfizer

May 05, 2021 17:30


Since the start of the global pandemic, the attention has focused on fighting the virus through restrictive measures, pending the development of different vaccines to immunise most of the population as soon as possible. The primary aim of this was to begin to defeat the virus and gradually return back to our normal lives. Since the candidate Covid-19 vaccines were announced last November, both Pfizer, Moderna and AstraZeneca have been in the spotlight.

If, during this period, AstraZeneca has received almost all the criticism, due to distribution problems and side effects, Pfizer has been the positive face of this process. This is because, together with the Moderna formula, their vaccine has been the most requested by the different national administrations. For example, last April the European Union announced the purchase of 1.8 billion doses of Pfizer for the years 2022 and 2023.

In a recent study carried out in South Korea, it was discovered that the Pfizer vaccine showed 86.6% effectiveness in preventing the virus among those over 60 years old with only the first dose administered, which demonstrates a very positive data set.

This good news has led Pfizer to obtain exclusive results in the first quarter of 2021. As demonstrated in the results published yesterday, the company reached a profit of $4.9 billion, obtaining earnings per share of $0.93 and revenue of $14.58 billion.

These results exceeded market expectations as analysts expected Pfizer to make earnings per share of $0.77 on revenue of $13.67 billion. Despite the fact that these were better than expected and that the profit grew by 45% compared to the same period last year, yesterday there was only an increase of 0.30%.

Technically speaking, if we look at the daily chart, we can see that after marking a minimum on March 23, 2020, the price has followed an upward trend that led it to face its long-term bearish guideline after exceeding $42.80 per share which led to it making a strong correction.

Currently, the price is in a zone close to 40 dollars per share, so these positive results, together with the strength shown by the price after the triple bullish crossing in its moving averages, could lead the price to face its line against the long-term downtrend. It is important that we study the price action in the coming sessions, as the price could make a correction to its main support level at its 18-session black moving average to gain momentum. Losing this level would jeopardise this latest upward momentum.

Source: Admiral Markets MetaTrader 5. Pfizer daily chart. Data range: from August 3, 2018, to May 5, 2021. Prepared on May 5, 2021, at 12:15 CEST. Keep in mind that past returns do not guarantee future returns.

Evolution of the last 5 years:

  • 2020: -0.89%
  • 2019: -10.24%
  • 2018: 20.51%
  • 2017: 11.51%
  • 2016: 0.62%

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