Pfizers 2024 Outlook: Is PFE Stock Poised for a Major Rebound?
To find the best stocks to buy and watch, check out IBD Stock Lists. Pfizer stock still has to prove its fundamental and technical merit. Also, shares aren’t forming a chart pattern with a clear entry for investors, despite recently regaining ground and briefly retaking their 50-day line. Pfizer stock has a Relative Strength Rating of 14 out of a best-possible 99. The RS Rating measures a stock’s 12-month running performance against all other stocks. That RS Rating means Pfizer stock ranks in the bottom 14% of all stocks in terms of performance over the last year.
2021 highlights include 8 FDA approvals, four new regulatory submissions and 13 new trial startups. Pfizer is also a well-known dividend payer and has returned more than $8.7 billion to shareholders since going public. Regarding its product line, the company has at least ten blockbuster drugs bitmex review producing more than $1 billion in avenue revenue each. The company brought in over $81 billion in total revenue in 2021. The US is its main market and represents roughly 50% of all revenue. China and Japan make up roughly 12% of the business, while the rest come from the “rest of the world”.
- Also, shares aren’t forming a chart pattern with a clear entry for investors, despite recently regaining ground and briefly retaking their 50-day line.
- Albert Bourla has an approval rating of 92% among the company’s employees.
- Pfizer is classified as a member of the S&P 500 healthcare sector and operates within the biotechnology and pharmaceutical industry.
Pfizer has become one of the biggest pharmaceutical companies in the world, with a market capitalization of $251.3 billion as of Nov. 3, 2021. Investors are encouraged to seek stocks with 20%-25% recent sales and earnings growth. Big velocity trade institutional investors — who account for up to 70% of all market trades — usually look for stocks with accelerating earnings and sales growth. Third, the FDA gave the green light to 66 new drugs, vaccines, and biologics in 2023.
With seven of them going to Pfizer, that means almost 11% of the FDA’s approvals in the entire massive pharmaceutical industry were for products developed by a single company. Some of these deals — such as Arena — offer Pfizer pipeline candidates, representing future potential launches. Others, like Seagen, offer immediate revenue through already approved products, as well as growth potential down the road. Pfizer forecasts more than $3 billion in Seagen revenue this year, and as much as $10 billion in 2030. 17 brokers have issued 12-month target prices for Pfizer’s stock.
Who is the chief executive officer (CEO) of Pfizer?
The key is to launch brand-new products on the market, ones that will eventually fill the holes left by older ones whose sales are declining. 17 Wall Street equities research beaxy exchange review analysts have issued “buy,” “hold,” and “sell” ratings for Pfizer in the last twelve months. There are currently 11 hold ratings and 6 buy ratings for the stock.
Pfizer Stock Fundamentals: Surprise Profit
Pfizer, a major global pharmaceutical player, gained prominence with the development and distribution of medicines and vaccines. With 36 manufacturing facilities, 110 assets in the pipeline, and sales in 185 countries, Pfizer reported $68.53 billion in revenue over the past 12 months. The pharmaceutical company’s EPS Rating, a measure of profitability, is 34 out of a best-possible 99.
Other blockbuster names on Pfizer’s list include Xeljanz and Enbrel, each bringing in $3.5 billion. Pfizer operates 39 research and production facilities worldwide and sells its products in 125 countries. For the first quarter, Pfizer stock analysts forecast earnings of 54 cents per share and $14.23 billion in sales. Earnings are expected to dive 56% as sales tumble more than 22%.
What’s happening with the Pfizer COVID-19 vaccine?
Pfizer expects these products to generate $20 billion in revenue in 2030. Pfizer declared a quarterly dividend on Thursday, December 14th. Shareholders of record on Friday, January 26th will be paid a dividend of $0.42 per share on Friday, March 1st. This represents a $1.68 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend is Thursday, January 25th.
Pfizer is executing its 19 launches over a pretty short period of time; if those products perform as expected, they could meet the company’s revenue goal and continue to drive growth in the next decade. In total, Pfizer predicts that its business deals may add $25 billion to revenue in 2030. The big pharma company took center stage earlier in the COVID-19 pandemic when it became the first to launch a coronavirus vaccine.
In March, Pfizer said its new drug, Adcetris, improved overall survival, progression-free survival and overall response rates in patients with diffuse large B-cell lymphoma. Progression-free survival is how long patients live before their cancer worsens. The company added Adcentris to standard cancer drugs lenalidomide and rituximab. It compared the regimen to lenalidomide and rituximab plus a placebo. For 2024, Pfizer expects adjusted earnings of $2.05 to $2.25 per share and $58.5 billion to $61.5 billion in sales. At the midpoints, earnings would climb almost 17% as sales rise almost 3%.