- Pfizer Inc. vaccine is awaiting health regulators’ approval for its Respiratory Syncytial Virus (RSV)
- The RSV vaccine market is valued over $5 billion and could exceed $10 billion by the end of 2030.
Pfizer Inc.(NYSE:PFE) is a multinational pharmaceutical company headquartered in New York. On Friday March 31, 2023, PFE stock gained 1.04% with an average trading volume of $23.394 million.
PFE stock closed at $40.38 on March 30, 2023 with an average trading volume of $12.635 million. It is important to note that on Friday’s trading session, the price did not show any significant movement but daily trading volume doubled, compared to Thursday’s trading session.
The stock opened at $40.42 and hit a high of $40.49 and later was closed at $40.38 on Thursday. Friday’s trading session saw PFE Stock opening at $40.55 while hitting a high of $40.83 during the day and closing at $40.80.
Pfizer Inc. released its Q4 2022 financial report on January 31, 2023. The company’s reported revenue was less than estimated figures. The company generated $24.29 billion, a 1.9% year-on-year growth.
Moreover, PFE stock declined over 20% in the half-yearly trading session and lost its trading value over 21.50% on a yearly basis. Pfizer Inc. and its competitor GSK is in a tough competition of developing Respiratory Syncytial Virus (RSV) which is an adult vaccine. Both the companies have developed their first vaccine for the disease and is backed by the Food and Drugs Administration (FDA).
The health regulators will probably approve the vaccine in May 2023 and are figuring out which of these vaccines is more effective against the disease. According to pharma analysts, the RSV vaccine market is valued over $5 billion and could exceed $10 billion by the end of 2030.
According to the Pfizer website, the company generates over 92.337% revenue from the United States, Europe, and Japan. The remaining 7.663% is generated from the rest of the world.
The total market capitalization of Pfizer Inc. is $229.258 billion. In terms of growth and profitability, the company generated around $100.33 billion in the financial year 2022 from which profit margin was around 31.26%.
Major Technical Levels
Resistance Levels:$43.38 and $44.41
Support Levels:$40.04 and $39.01
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Source: https://www.thecoinrepublic.com/2023/04/01/pfizer-stock-surged-intraday-is-rsv-vaccine-behind-the-surge/