Pfizer Just Beat Its Earning Estimates. Is This the Beginning of a Turnaround for the Pharmaceutical Stock?
(NYSE: PFE) has been a terrible investment over the past three years. Revenue and earnings have generally moved in the wrong direction, as the company has been unable to follow up on the success it achieved in the coronavirus market. The stock has declined by 50% over this period.
However, Pfizer's most recent earnings report was strong, and helped jolt the stock. Could that be the start of a solid run for the drugmaker? Let's find out.
During the second quarter, several of Pfizer's products performed well. Consider its coronavirus business, which made a fortune several years ago. Revenue from this franchise has been somewhat inconsistent, but it made meaningful contributions to Pfizer's results for the quarter. Sales of its coronavirus vaccine Comirnaty came in at $381 million, 96% higher than the year-ago period, while Paxlovid, a medicine for COVID-19, posted revenue of $427 million, for a 70% year-over-year increase.
Source Fool.com
Pfizer Inc. Stock
Currently there is a rather positive sentiment for Pfizer Inc. with 13 Buy predictions and 3 Sell predictions.
With a target price of 27 € there is a positive potential of 27.96% for Pfizer Inc. compared to the current price of 21.1 €.
