Pfizer Stock in the Spotlight on Upbeat Trial Data

The equity has pulled back from recent record highs

Deputy Editor
Sep 20, 2021 at 10:03 AM
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Pharmaceutical company Pfizer Inc. (NYSE:PFE) just revealed trial data that showed its coronavirus vaccine is safe and effective for children ages 5 to 11. The company, along with partner BioNTech (BNTX), plans to submit its results to the U.S. Food and Drug Administration (FDA) and other regulators for approval "as soon as possible."

PFE is trading flat this morning despite the news, last seen up 0.3% at $44.03. The stock steadily worked its way lower on the charts after an Aug. 18, all-time high of $51.86, and is now below a slew of short-term moving averages. For the year, PFE still sports a 19.2% lead. 

An upward shift in sentiment could still be in the cards, as analysts are still approaching the stock with caution. Of the 13 in coverage, four say "strong buy," and nine say "hold." Meanwhile, the 12-month consensus price target of $42.97 is an 8.9% premium to current levels. 

Tailwinds could also come from an unwinding of pessimism in the options pits. This is per Pfizer stock's 10-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than 89% of readings from the past year, indicating puts being picked up at a faster-than-usual rate. 

Plus, now looks like a good time to speculate on PFE's next move with options. Pfizer stock's Schaeffer's Volatility Index (SVI) of 26% stands in the 17th percentile of readings from the past year, suggesting options traders are pricing in low volatility expectations right now.


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