Jump to content

Pfizer share price gains on quarterly results and outlook


MongiIG

Recommended Posts

In this article we review the Pfizer results and how the share price has reacted to the news.

bg_pfizer_366450474.jpgSource: Bloomberg
 

 Shaun Murison | Senior Market Analyst, Johannesburg | Publication date: Wednesday 02 November 2022 

Pfizer Inc. quarterly results

Pfizer Inc., the research-based biopharmaceutical company has released results for the fiscal quarter ending September 2022, a summary of which is as follows:

  • Adjusted earnings per share (EPS) of $1.78 for the quarter, consensus estimates from Refinitiv data had expected adjusted EPS of $1.39

  • Revenue declined by 6% to $22.64 billion from a year ago, although estimates from Refinitiv data had expected revenue of $21.04 billion.

  • Pfizer Inc's reported EPS for the quarter was $1.51.

  • Net income of $8.61 billion was recorded over the reporting period

Group results were ahead of consensus helping the share price gain roughly half a percent on the release thereof. Primary care, boosted by covid therapeutics made up 70% of the total revenue figure. Adding to a bit more positive sentiment around the stock and the sector was news that Pfizer Inc had increased its annual sales forecast of its COVID-19 vaccines by $2 billion on demand for boosters.

How to trade Pfizer shares

110222_Pfizer-Refinitiv.pngSource: Refinitiv

As of the 2nd of November 2022, a Refinitiv poll of 23 brokers and analysts suggest the stock to be a ‘hold’ to ‘buy’ at current levels, with no sell recommendations on the company.

The long-term price target mean of $55 suggests the share price of Pfizer to currently be trading at a 15% discount to its assumed fair value.

 

110222_Pfizer-Sentiment.pngSource: IG

Most IG clients (94%) with open positions on the stock, as of the 2nd of November 2022, expect the share price to rise in the near term, while 6% of IG clients with open positions on the stock expect the share price of Pfizer to fall.

Pfizer Inc. – Technical View

 

110222_Pfizer-Technical.pngSource: IG Charts

The share price of Pfizer has moved to test resistance (red trend line) of the large wedge-shaped consolidation.

To unlock gains we would like to see a close above this resistance level before targeting a move towards the resistance high at 52.50. In this scenario a close below horizontal support (dotted line) at 45.55 might be used as a stop loss consideration for the trade.

In summary:

  • Pfizer quarterly revenue has declined in the mid-single digit region against its comparative quarter

  • Revenue and EPS for the reporting period were both ahead of consensus estimates

  • The share price currently trades at a 15% discount to a mean of analyst price targets

  • The majority of IG clients with open positions on the stock expect the price to rise in the near term

  • The share price is currently testing trend line resistance, a close above / upside break of this level could unlock gains towards the 52.50 level

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Alpha Trade is about to launch a sub-brand - Alpha Trade Seychelles In order to better meet the more segmented requirements of investors in the investment field, we are pleased to announce that at the end of summer 2024, we will launch a sub-brand regulated by Seychelles - Alpha Trade Seychelles. We are currently selecting the office address and finalizing the relevant management personnel. We believe that in a short time, we will be able to launch Alpha Trade Seychelles to provide investors with better and more diversified services. As a global high-quality liquidity provider, Alpha Trade's meticulous and customized liquidity service solutions have long been recognized by a wide range of investors and brokers. With the establishment of Alpha Trade Seychelles, our products will be richer, with more free leverage options and more liquidity docking, which will make it easier to meet the execution of investors' diversified strategies and shorten the execution time, which will help investors get better quotes in strategy operations.
    • ASX: V300AEQ ETF UNITS – VAS Elliott Elliott Wave Technical Analysis TradingLounge (1D Chart)   Greetings, Our Elliott Wave analysis today updates the Australian Stock Exchange (ASX) with V300AEQ ETF UNITS – VAS. We confirmed that wave 2-grey has ended and wave 3-grey is opening to push higher.   ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis   ASX: V300AEQ ETF UNITS – VAS 1D Chart (Semilog Scale) Analysis Function: Major trend (Minor degree, grey) Mode: Motive Structure: Impulse Position: Wave ((iii))-navy of Wave 3-grey Details: The short-term outlook shows that wave ((ii))-navy has just ended and it seems that wave ((iii))-navy is opening to push higher, while price must always maintain above 94.64 to maintain this view. Invalidation point: 94.64   ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis TradingLounge (4-Hour Chart) ASX: V300AEQ ETF UNITS – VAS Elliott Wave Technical Analysis ASX: V300AEQ ETF UNITS – VAS 4-Hour Chart Analysis Function: Major trend (Minute degree, navy) Mode: Motive Structure: Impulse Position: Wave (ii)-orange of Wave ((iii))-navy Details: The shorter term outlook shows that wave ((i))-navy has just ended at 94.64 and wave ((iii))-navy is unfolding, it is subdividing into wave (i)-orange and it's over, now it's time for wave (ii)-orange to open up to push a little lower, after which wave (iii)-orange can return to push higher. Invalidation point: 94.64   Conclusion:   Our analysis, forecast of contextual trends, and short-term outlook for ASX: V300AEQ ETF UNITS – VAS aim to provide readers with insights into the current market trends and how to capitalize on them effectively. We offer specific price points that act as validation or invalidation signals for our wave count, enhancing the confidence in our perspective. By combining these factors, we strive to offer readers the most objective and professional perspective on market trends.   Technical Analyst: Hua (Shane) Cuong, CEWA-M (Master’s Designation). Source : Tradinglounge.com get trial here!  
    • Elliott Wave Analysis TradingLounge Daily Chart, Polkadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225 Polkadot/ U.S. dollar(DOTUSD)Trading Strategy: Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend. Polkadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum. Elliott Wave Analysis TradingLounge H4 Chart, Polkadot/ U.S. dollar(DOTUSD) DOTUSD Elliott Wave Technical Analysis Function: Counter Trend Mode: Corrective Structure: Flat Position: Wave C Direction Next higher Degrees: wave (II) of Impulse Wave Cancel invalid level: Details: Wave II Is equal to 61.8% of Wave I at 5.225 Polkadot/ U.S. dollar(DOTUSD)Trading Strategy: Polkadot overall is still in the period of correction. In the position of wave (II) with a double corrective pattern, the view is therefore for a short-term pullback before rising again in wave (III), waiting for the correction to complete to rejoin the uptrend. Polkadot/ U.S. dollar(DOTUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.       Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!  
×
×
  • Create New...
us