- News and analysis
- Stocks Dipping Amid the Christmas Rally: Pfizer
Stocks Dipping Amid the Christmas Rally: Pfizer
Shares of this multinational pharmaceutical and biotechnology corporation were very popular among investing crowds during the pandemic, when it developed the first COVID-19 vaccine. Its revenue exceeded $100 billion in 2022, yet later the number slipped to $44.2 billion only for the first nine months of 2023, when the therapy measures dominated over fresh prophylactic spending.
Therefore, the stock entered into a strong adjustment period, from nearly $55 per share in December 2022 to below $28.5 one year later. And it fell by another 7.5% to $26.5 shortly before the trading session on December 13, following the company's own outlook forecasts for 2024. Dr. Albert Bourla, Pfizer CEO said that his company's annual revenue would be supposedly at $60 billion, up or down $1.5 billion, which is well below the Wall Street pool's consensus of $63.1 billion, including approximately $8 billion from COVID-19 products like Comirnaty and Paxlovid and $3.1 billion from Seagen cancer care medicine, as Pfizer is completing the acquisition of this business. Nevertheless, diluted equity per share (EPS) could be within a range of $2.05 to $2.25, big expected failure vs the consensus value of $3.16.
“Pfizer’s product portfolio remains strong. In 2024, ... our remaining portfolio [except COVID-19 related drugs] of combined Pfizer and Seagen products is expected to achieve YoY operational revenue growth in the range of 8% to 10%... In addition, we expect our cost realignment program to deliver savings of at least $4.0 billion... which puts us on a path to potentially regain our pre-pandemic operating margins," Dr. Albert Bourla said struggling to sound more optimistic. Yet, further possible decline in Pfizer stock is probably on the table, so that it is just going to skip the Christmas rally mood in the best case.
The comments, insights, and reviews posted in this section are solely the opinions and perspectives of authors and do not represent the views or endorsements of RHC Investments or its administrators, except if explicitly indicated. RHC Investments provides a platform for users to share their thoughts on financial market news, investing strategies, and related topics. However, we do not guarantee the accuracy, completeness, or reliability of any user-generated content.
Investment Risks and Advice:
Please be aware that all investment decisions involve risks, and the information shared on metadoro.com should not be considered as financial advice. Always conduct thorough research, seek professional advice, and exercise caution when making investment decisions.
Moderation and Monitoring:
While we strive to maintain a respectful and informative environment, we cannot endorse or verify the accuracy of all user-generated content. We reserve the right to moderate, edit, or remove any comments or posts that violate our community guidelines, infringe on intellectual property rights, or contain harmful content.
By submitting content to metadoro.com, users grant RHC Investments a non-exclusive, royalty-free license to use, display, and distribute the content. Users are responsible for ensuring they have the necessary rights to share the content they post.
To maintain a positive and respectful community, users are expected to adhere to the community guidelines of Metadoro. Any content that is misleading, offensive, or violates applicable laws and regulations will be subject to moderation or removal.
Changes to Disclaimer:
We reserve the right to update, modify, or amend this disclaimer at any time. Users are encouraged to review this disclaimer periodically to stay informed about any changes.