- Pfizer Inc PFE and BioNTech SE BNTX announced a new COVID-19 vaccine supply agreement with the U.S. government.
- SVB Leerink says that the new contract implies the price per Comirnaty dose is ~$30.50.
- Comirnaty U.S. pricing per dose has increased from $19.50 (2020 contracts), to $24 (+23%; 2021 contract), and now to ~$30.50 (+27%).
- The analysts raised FY22 comirnaty sales estimate to $35 billion from $33 billion, with Pfizer's price target unchanged at $55 and maintaining a Market Perform rating.
- SVB forecasts Q3 sales of $2 billion, up from the prior outlook of $1.3 billion, and raising Q4 estimate to $2.1 billion from $1.5 billion.
- "The contract size (105 million and up to 300 million) and 27% price bump supports Pfizer's plan to raise vaccine prices coming out of the pandemic," SVB notes.
- At the $30.50 price, another 195 million doses would imply $5.9 billion in additional revenue. These additional doses could also cover each of those individuals for another booster in 2023 and cover the roll-out of the primary series for children under five.
- Price Action: PFE shares are up 3.31% at $52.64 during the market session on the last check Thursday.
- Photo by x3 from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorBiotechNewsHealth CareAnalyst RatingsMoversTrading IdeasGeneralBriefsCOVID-19 CoronavirusCOVID-19 Vaccine
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in