Skip to content

CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

Pfizer share price gains on quarterly results and outlook

In this article we review the Pfizer results and how the share price has reacted to the news.

Source: Bloomberg

Pfizer Inc. quarterly results

Pfizer Inc., the research-based biopharmaceutical company has released results for the fiscal quarter ending September 2022, a summary of which is as follows:

  • Adjusted earnings per share (EPS) of $1.78 for the quarter, consensus estimates from Refinitiv data had expected adjusted EPS of $1.39

  • Revenue declined by 6% to $22.64 billion from a year ago, although estimates from Refinitiv data had expected revenue of $21.04 billion.

  • Pfizer Inc's reported EPS for the quarter was $1.51.

  • Net income of $8.61 billion was recorded over the reporting period

Group results were ahead of consensus helping the share price gain roughly half a percent on the release thereof. Primary care, boosted by covid therapeutics made up 70% of the total revenue figure. Adding to a bit more positive sentiment around the stock and the sector was news that Pfizer Inc had increased its annual sales forecast of its COVID-19 vaccines by $2 billion on demand for boosters.

How to trade Pfizer shares

Source: Refinitiv
Source: Refinitiv

As of the 2nd of November 2022, a Refinitiv poll of 23 brokers and analysts suggest the stock to be a ‘hold’ to ‘buy’ at current levels, with no sell recommendations on the company.

The long-term price target mean of $55 suggests the share price of Pfizer to currently be trading at a 15% discount to its assumed fair value.

Source: IG
Source: IG

Most IG clients (94%) with open positions on the stock, as of the 2nd of November 2022, expect the share price to rise in the near term, while 6% of IG clients with open positions on the stock expect the share price of Pfizer to fall.

Pfizer Inc. – Technical View

Source: IG Charts
Source: IG Charts

The share price of Pfizer has moved to test resistance (red trend line) of the large wedge-shaped consolidation.

To unlock gains we would like to see a close above this resistance level before targeting a move towards the resistance high at 52.50. In this scenario a close below horizontal support (dotted line) at 45.55 might be used as a stop loss consideration for the trade.

In summary:

  • Pfizer quarterly revenue has declined in the mid-single digit region against its comparative quarter

  • Revenue and EPS for the reporting period were both ahead of consensus estimates

  • The share price currently trades at a 15% discount to a mean of analyst price targets

  • The majority of IG clients with open positions on the stock expect the price to rise in the near term

  • The share price is currently testing trend line resistance, a close above / upside break of this level could unlock gains towards the 52.50 level

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.

Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.