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Pfizer gets a boost – Q1 earnings beat estimates

4 May 2022 By Klavs Valters

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Pfizer Inc. reported its first quarter financial results before the market open in the US on Tuesday.

The American pharmaceutical giant reported revenue of $25.661 billion in the first quarter of the year (up by 77% year-over-year) vs. $24.099 billion expected.

Earnings per share also reported above analyst expectations at $1.62 per share (up by 72% year-over-year) vs. $1.49 per share estimate.

Chairman and CEO of Pfizer, Dr. Albert Bourla commented on the latest results: ”I am very proud of our performance this quarter, both from a financial perspective and from the standpoint of trying to be a force for good in the world. We continue to supply the world with Comirnaty, which remains a critical tool for helping patients and societies avoid the worst impacts of the COVID-19 pandemic, and we are on track to fulfill our commitment to deliver at least 2 billion doses to low- and middle-income countries in 2021 and 2022, including at least 1 billion doses this year. In addition, we are delivering on our production commitments for Paxlovid, which is already having a profound impact on the lives of patients. In response to the devastating war in Ukraine, and as a company that is – 1 – dedicated to promoting human health, we have chosen to continue to supply the people of Russia with the medications they need, and are donating all profits from our Russian subsidiary to humanitarian efforts in Ukraine. We will continue to do all we can to support the health of all people, which is in line with our purpose: Breakthroughs that change patients’ lives.”

Pfizer Inc. chart

Latest results had a positive impact on the share price, the stock was up by 2.05% at the of Tuesday at $49.24 per share.

Here is how the stock has performed in the past year:

  • 1 Month -3.60%
  • 3 Month -6.92%
  • Year-to-date -16.35%
  • 1 Year +64%

Pfizer price targets

  • Morgan Stanley: $55
  • Wells Fargo: $65
  • Citigroup: $57
  • Barclays: $54
  • UBS: $60
  • Goldman Sachs: $51

Pfizer Inc. is the 28th largest company in the world with a market cap of $278.09 billion.

You can trade Pfizer Inc. (PFE) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.

Sources: Pfizer Inc., TradingView, CompaniesMarketCap

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