|Bid||34.45 x 1400|
|Ask||34.50 x 3000|
|Day's range||34.04 - 34.85|
|52-week range||27.88 - 44.11|
|Beta (5Y monthly)||0.69|
|PE ratio (TTM)||12.33|
|Earnings date||28 Jul 2020|
|Forward dividend & yield||1.52 (4.40%)|
|Ex-dividend date||30 Jul 2020|
|1y target est||40.04|
As the coronavirus outbreak continues to aggravate, investors are eyeing developments in vaccine or treatments to combat the pandemic.
Pfizer (PFE) releases promising early results from its COVID-19 vaccine study. Several new drug/line extensions get approval in the United States, EU and Japan.
Pfizer (PFE) announces promising preliminary data on a vaccine candidate from its early-stage coronavirus program under which it is developing four mRNA-based vaccine candidates.
An appeals court ruled in Amgen's (AMGN) favor in a case challenging the validity of two patents on its top-selling medicine, Enbrel.
The Nasdaq and the S&P 500 closed higher on Wednesday as investors focused on signs of economic recovery and better than expected economic data.
As a result, America is the only developed country in the world where cases of the deadly respiratory illness are marking new all-time highs. Since the beginning of the year, shares of telemedicine giant Teladoc Health (NYSE: TDOC) have rallied by 128%. In the first quarter of 2020, new registrations on Teladoc's platform surged by more than 125% over the prior year.
(Bloomberg Opinion) -- The Nasdaq Composite hit a record Wednesday, as the S&P 500 rose for the third straight day. This happened even with the Covid-19 pandemic growing in multiple states, and on the same day California and New York rolled back plans to allow restaurants to serve customers indoors.Anyone looking for a convergence between markets and the state of the economy can point to the pullback in travel-related stocks since the growth in the number of coronavirus cases in Arizona, Florida and Texas began in early June. But with Wednesday bringing good news about a vaccine candidate from Pfizer Inc. and BioNtech SE, and with Phase 3 trials for other vaccines set to begin this month, we could begin seeing an even bigger divergence between the real-time economic data and a rosier future priced in by markets.Up until now, there’s an argument that markets have largely followed the progression of the virus and economic momentum, even if markets are priced for a much stronger economic environment than the U.S. was experiencing at July’s onset. Stocks crashed between the latter part of February and the latter part of March as awareness grew about the spread of the virus and the U.S. saw a rolling wave of shutdowns of various forms of economic activity. Stocks bottomed on March 23, the same week that initial jobless claims peaked at 6.8 million.The early part of April through the early part of June was the sweet spot for the progression of the virus, the economic recovery and the stock market. The 7-day moving average of new virus cases in the U.S. initially peaked on April 10, which happened to be the low point for hotel occupancy and passenger air traffic. Stocks rallied as the economy was reopening, jobless claims were falling and virus case counts were declining even as the amount of testing was increasing.But since the early part of June there’s been a setback. Virus case counts reached new highs in some Southern states that reopened their economies after they weren’t hit as hard by Covid-19 in March and April. The Airline Index has fallen over 25% from its June 8 peak, some governors have ordered bars and dine-in restaurants closed again, states in the Northeast are imposing quarantines on visitors from hot spots, and there are signs that credit card spending may be slowing. For the first month since March, we could see both a worsening public health crisis and a deterioration in the economic data in July.At the same time, the timeline for a vaccine and intermediate medical treatments may be getting closer. Moderna Inc. is expected to begin Phase 3 trials for its vaccine candidate in July, with up to 30,000 people getting a small dose. Other vaccine candidates are close behind, with Pfizer and BioNtech’s entry proving safe and to have prompted patients to produce antibodies in a small early trial. On Tuesday, infectious-disease expert Anthony Fauci repeated before Congress that a vaccine could be widely available by early 2021, and the Food and Drug Administration re leased its guidelines for approving inoculations. Although there’s no guarantee that we’ll ever have a vaccine, it may not be long before the conventional wisdom on vaccine availability shifts from 12 to 18 months to more like within 6 months.Over the next month or two then, we could be grappling with the conflicting narratives of a worsening pandemic but more clarity around the timeline and effectiveness of an eventual vaccine. It’s possible that markets, like they were in March, will be gripped by the fear and uncertainty about knock-on effects from the pandemic hurting economic activity, employment and corporate profits. But it’s just as possible that if investors have more confidence that there’s light at the end of the tunnel, markets will look past whatever deterioration we get in the short-term with their focus turning to an end to the public health crisis and a stronger economic recovery in 2021.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Conor Sen is a Bloomberg Opinion columnist. He has been a contributor to the Atlantic and Business Insider.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
U.S. stocks are set to open higher Thursday, rallying ahead of the three-day weekend amid growing confidence of an economic recovery despite the resurgence of Covid-19 cases in many states. At 7:05 AM ET (1105 GMT), S&P 500 Futures traded 21 points, or 0.7%, higher, Nasdaq Futures up 45 points, or 0.4%. The Dow Futures contract rose 259 points, or 1%.
The dollar was on the defensive in early European trade Thursday, with traders turning to perceived riskier currencies amid optimism surrounding a potential Covid-19 vaccine as well as solid economic data. News emerged late Wednesday that a potential Covid-19 vaccine developed by Pfizer (NYSE:PFE) and Biontech (NASDAQ:BNTX) produced positive results in early-stage human trials, raising optimism that an antidote to the virus which has infected over 10 million and killed over 500,000 people can be found. This followed economic data which had suggested that a global recovery is starting to gain momentum: U.S. manufacturing activity rebounded more than expected in June, with the manufacturing activity index by the Institute for Supply Management, released Wednesday, hitting its highest in 14 months.
What happened Shares of Pfizer (NYSE: PFE) rose 3.2% on Wednesday after the pharmaceutical giant released promising early results from its COVID-19 vaccine trials. So what Pfizer is working with German biotech BioNTech (NASDAQ: BNTX) to develop a novel coronavirus vaccine.
Dynavax (NASDAQ: DVAX) shares were trading 6.5% lower as of 3:35 p.m. EDT on Wednesday after competitor Pfizer (NYSE: PFE) reported data showing its vaccine produces a significantly larger number of antibodies than are found in recovered COVID-19 patients. Dynavax is collaborating with a number of companies on the development of a COVID-19 vaccine, but trials involving the adjuvant it's contributing to boost immune responses in these collaborations have only just begun, suggesting other players, including Pfizer, may reach the market sooner. On Wednesday, Pfizer and its partner, BioNTech (NASDAQ: BNTX), announced one vaccine candidate it's evaluating in a small phase 1/2 trial resulted in neutralizing antibody levels that were up to 2.8 times higher than levels seen in recovered COVID-19 patients.
Patients developed antibodies to the coronavirus in the phase 1 clinical trial, but the vaccine also produced side effects.
Jul.01 -- An early trial of an experimental coronavirus vaccine from Pfizer Inc. and BioNtech SE showed it’s safe and prompted patients to produce antibodies against the new virus, keeping it in the lead pack for a pandemic shot. Sam Fazeli of Bloomberg Intelligence discusses the report on "Bloomberg Markets."
(Bloomberg) -- The Food and Drug Administration’s new standards on Covid-19 vaccine development may dampen Wall Street hopes that a shot to prevent the spread of the pandemic will be available before the U.S. election in November.With the FDA’s standards for an emergency use authorization not much lower than what’s needed for full approval, the first authorization seems more likely to happen in early 2021, said Geoffrey Porges, an analyst with SVB Leerink.The agency’s guidance, published on Tuesday, said any vaccine candidate would need to prove itself at least 50% more effective than a placebo to earn an approval, and that merely showing immune response data would not be enough.“It is hard to see how those studies could enroll thousands of patients, vaccinate them, and then observe them for safety for six months or more, and then be approved” before the end of the year, Porges wrote in a note to clients. A fully approved vaccine will need “extensive safety data, and full clinical efficacy,” he said.Investors were anticipating the first vaccine might arrive in the autumn after reports of President Donald Trump pressuring health officials in his re-election bid. Drug and vaccine developers including Johnson & Johnson, Merck & Co., Pfizer Inc. and Moderna Inc. are taking part in the administration’s “Warp Speed” program. The government program is meant to further efforts to develop a vaccine faster than any have been developed before, though details are scant.Pfizer rallied as much as 5.6% on Wednesday after early data with partner BioNTech SE showed promising effects for a vaccine candidate, while small-cap vaccine developer Inovio Pharmaceuticals Inc. plunged 27%. Moderna, one of the leaders in the space, fell 7.9%. All three vaccine programs would likely need longer-term results to clearly establish safety, according to Porges. DNA vaccines in particular, like Inovio’s, may be “held to a more stringent standard given general concerns about risks of genetic integration.”Porges doesn’t see a 2020 vaccine happening, and “the success of that effort is by no means a foregone conclusion,” he said. Instead, he predicts a full vaccine approval may come in another two or three years, with widespread adoption taking another year after that.Should a vaccine be approved, getting enough Americans to vaccinate will be another hurdle to turning the tide on Covid-19. Yesterday’s guidelines are meant to depoliticize the government’s vaccine efforts so people aren’t afraid to get vaccinated, Beacon Policy Advisors founder Brandon Barford said in a phone interview.“They are trying to put out very prescriptive guidelines so outside experts can quickly try to validate the studies and help with the public health efforts,” Barford said. The stock market has not incorporated “enough analysis surrounding the politics of a vaccine and how even if the science delivers, our political leaders may fail the test by overly politicizing the process to a point that it will take longer than anticipated for a sufficient number of people to agree to be vaccinated to reach herd immunity in the U.S.,” according to Barford.But the tone of U.S. regulators should put citizens at ease as it “suggests that regardless of political pressure, the FDA continues to apply sound regulatory judgment and expertise to the development of all medical products, particularly vaccines, regardless of the severity of the economic, political, or public health urgency of the current situation,” Porges said, “For that integrity, the general public, the biopharma industry, and all of its investors should be grateful.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Imagine co-founder and former long-time Unilever CEO Paul Polman speaks out on Facebook's recent actions.
What happened Shares of Moderna (NASDAQ: MRNA) were sliding 6.2% lower as of 11:41 a.m. EDT on Wednesday. Two factors appeared to be behind the biotech stock's decline. First, the FDA issued an update on Tuesday that could mean no COVID-19 vaccine will be approved until next year.
(Bloomberg) -- An early trial of an experimental coronavirus vaccine from Pfizer Inc. and BioNtech SE showed it’s safe and prompted patients to produce antibodies against the new virus, keeping it in the lead pack for a pandemic shot.The messenger RNA product was tested on 45 healthy adults divided in several groups: 24 of them got two injections with two different doses of the experimental vaccine, 12 of them received a single shot with a very high dose and nine patients got two dummy injections. The two-shot groups produced the highest level of antibodies.Pfizer and Germany’s BioNTech are in a race with companies including AstraZeneca Plc, Moderna Inc. and dozens of other biopharmaceutical outfits and academic groups to come up with a safe and effective vaccine against Covid-19. With almost 10.5 million confirmed cases around the globe and over half a million deaths, drugmakers are under increasing pressure to deliver.“I see this as the first good news we’ve seen from Operation Warp Speed,” said Peter Hotez, a vaccine researcher and dean of the National School of Tropical Medicine at Baylor College of Medicine. Operation Warp Speed is a Trump administration program to bring a vaccine to market as quickly as possible.While it took two shots, the vaccine produced “significant levels of virus neutralizing antibody,” Hotez said.Pfizer shares gained as much as 5.6% on Wednesday in New York, while BioNtech shares jumped by as much as 19% in Germany.On Monday, shares of Inovio Pharmaceuticals Inc. slumped after the company released promising results on an experimental vaccine without giving enough detailed data.The study of Pfizer’s and BioNtech’s vaccine candidate, called BNT162b1, is undergoing scientific peer review, the partners said.The companies are evaluating at least four experimental vaccines at various doses and will pick the most promising one to move into the next stage of tests, which may start as early as this month and involve as many as 30,000 patients.If the vaccine is successful, the companies expect to manufacture up to 100 million doses by the end of this year and potentially more than 1.2 billion doses by the end of 2021. They would jointly to distribute the product worldwide except in China, where BioNTech has a collaboration with Fosun Pharma.There were no severe side effects in the study. Some patients had pain at the injection site and a low-grade fever after the second injection. One of the patients who got the single high dose experienced severe pain where he received the shot.(Updates with comment from medical expert in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
The FDA approves Pfizer (PFE) and Merck KGaA's sBLA for Bavencio as a first-line maintenance therapy for metastatic urothelial carcinoma. Daurismo gets the EU nod for acute myeloid leukemia.
ADP's private sector jobs gained below the 2.5 million expected for June, but Pfizer's drug candidate takes the next step forward.