Pfizer Shares Weakly Respond to Strong Quarterly Report | R Blog RU

We haven’t talked about pharmaceutical companies producing vaccines against COVID-19 for a long time. And it seems in vain, because these organizations are now experiencing a real flourishing. Pfizer’s financial report for the first quarter of 2021 is the best confirmation of this. Let’s find out in more detail about the results of the first three months of this year.

Pfizer Q1 2021 Report

On May 4, the American pharmaceutical company released its quarterly report and boasted very impressive numbers. Vaccine revenue jumped 204%, according to published data.

It is important to note that sales of almost all products of this representative of the pharmaceutical market have grown. Revenue from the sale of drugs for the treatment of rare diseases in comparison with statistics for January-March 2020 increased by 29%, cancer – by 18%, immune diseases – by 9%.

Important data from the report

  • Revenue – $ 14.6 billion, + 45% (forecast – $ 13.54 billion).
  • Earnings per share – $ 0.93, + 47% (forecast – $ 0.76).
  • Net income – $ 4.9 billion, + 45%.
  • Revenue from anti-toxic vaccine – $ 3.5 billion (forecast – $ 2.2 billion).

Pfizer’s forecasts for the year

The pharmaceutical giant, given the strong statistics for January-March, changed its financial forecast for the year. The company now expects revenue for 2021 to reach $ 70.5-72.5 billion. Earlier it was predicted that this figure will be placed in the range from $ 59.4 to 61.4 billion. Adjusted earnings per share increased from $ 3.1- 3.2 to $ 3.55-3.65.

The annual income from the sale of an anti-toxic vaccine, developed in conjunction with the German BioNTech, was also revised – from $ 15 billion to $ 26 billion, which is an increase of 73%. Note that in the first quarter, the sale of this drug brought 24% of the total revenue. The pharmaceutical company expects to deliver 1.6 billion doses of the vaccine this year.

Pfizer Stock Technical Analysis

On May 3, the day before the Q1 2021 financial data was released, Pfizer (NYSE: PFE) rose 3.05% to $ 39.83. After the publication of the quarterly report, quotes rose only 0.3% to $ 39.95.

Here’s what my colleague, analyst Maxim Artyomov says about the future prospects for Pfizer shares:

“Against the backdrop of growth in revenue, the company’s shares, having completed the correction, began to recover their positions. On the daily chart, after the test of the support level, the quotes bounced and continue to grow within the boundaries of the ascending channel.

The stock is still trading above the 200-day moving average, which indicates that investors and speculators are interested in buying. Having updated the nearest maximum, the price will be able to continue the development of the upward trend.

The target for further growth is the all-time high of $ 42.6. If the maximum value is updated, the quotes may head to the $ 44 mark.

Summing up the result

Pfizer reported quarterly revenue and profit growth of 45%. Sales of the COVID-19 vaccine brought the pharmaceutical company $ 3.5 billion, up 59% from analysts’ forecasts.

Strong statistics for January-March gave the management of the concern to revise the forecast for this year. The size of the expected revenue increased to $ 70.5-72.5 billion, adjusted earnings per share – to $ 3.55–3.65, income from the sale of an anti-toxic vaccine – to $ 26 billion.

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