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Closing yesterday’s session at $46.75, PFE is trading just 9.9% below its 52-week price high of $51.86. As COVID-19 cases in the United States hit 40 million, more unvaccinated individuals are likely to go for the FDA-approved vaccine amid the rapid spread of the virus’ Delta variant. Furthermore, as the company prepares to roll out its booster shots, the drugmaker should witness a strong surge in sales in the coming months.
In addition, PFE raised its 2021 financial guidance for the second consecutive quarter due to increased expected contributions from its COVID-19-related and mRNA-based programs, as well as other business segments.
