What's Going On With Pfizer Stock?

Zinger Key Points
  • Pfizer shares may be moving in sympathy with fellow drug-maker Moderna which is up nearly 15% Tuesday.
  • A rise in respiratory virus activity this season could also positively impact demand for Pfizer's vaccines.

Pfizer, Inc. PFE shares are trading higher on the first trading day of 2024 after the stock lost more than 40% in 2023. Here's a look at what's going on.

What To Know:

Pfizer shares may be moving in sympathy with fellow drug-maker, Moderna, Inc. MRNA which is up nearly 15% Tuesday. Openheimer upgraded Moderna's stock from Perform to Outperform, and the company said that it expects sales growth in 2025.

A rise in respiratory virus activity this season could also positively impact demand for Pfizer's vaccines.

Pfizer recently announced the completion of its acquisition of Seagen Inc. for $229 per share and a total value of approximately $43 billion.

The company also recently provided its full-year 2024 guidance with expected revenue of between $58.5 billion and $61.5 billion, versus the consensus estimate of $63.17 billion.

According to data from Benzinga Pro, Pfizer shares are trading above the stock's 50-day moving average of $29.50, yet well-below its 52-week high of $51.66.

Related News: What's Going On With Palantir Technologies Stock?

PFE Price Action: According to Benzinga Pro, Pfizer shares are up 4.5% at $30.11 at the time of publication.

Image: Gerd Altmann from Pixabay

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