Why Pfizer Shares Are Rising Today

Pfizer Inc PFE is trading higher Tuesday after the company announced better-than-expected third-quarter financial results and raised guidance.

Pfizer reported quarterly earnings of $1.34 per share, which beat the estimate of $1.09 per share. The company reported quarterly revenue of $24.1 billion, which beat the estimate of $22.71 billion.

Pfizer raised full-year 2021 adjusted earnings guidance from a range of $3.95 to $4.05 per share to a range of $4.13 to $4.18 per share. The company raised its full-year 2021 revenue guidance from a range of $78 billion to $80 billion to a range of $81 billion to $82 billion.

Related Link: Pfizer More Than Doubles Earnings, Sales In Q3; Forecasts $36B From COVID-19 Vax Sales In FY21

"Despite all we have been able to accomplish to date, we remain focused on our future, not our past. Our ultimate goal is to help bring this pandemic to an end as quickly as possible, but also to apply the lessons we have learned through our work on the vaccine to all of our therapeutic areas," said Albert Bourla, chairman and CEO of Pfizer.

PFE Price Action: Pfizer has traded as high as $51.86 and as low as $33.36 over a 52-week period.

The stock was up 3.44% at $45.14 at time of publication.

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