Pfizer Gears up for Earnings Amid Vaccine News

Pfizer will report earnings before the open on Tuesday, Nov. 2

Deputy Editor
Oct 28, 2021 at 1:57 PM
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Pfizer Inc (NYSE:PFE) has hogged the spotlight lately, especially after a key U.S. Food and Drug Administration (FDA) panel endorsed the company's low-dose Covid-19 vaccine for children ages 5 to 11. Plus, Pfizer is gearing up for its third-quarter earnings report, due out before the open on Tuesday, Nov. 2. 

Ahead of these earnings, the options pits are pricing in a post-earnings swing of 4.5%, regardless of direction, which is higher than the average 2.5% move from the company's last eight earnings reports. Pfizer has a split history of post-earnings reactions, closing four of the last eight next-day sessions with gains -- including the two most recent reports. 

On the charts, PFE has been on the rise since bouncing off the $41 level and 160-day moving average in mid October, after steadily dropping from its August 18 record high of $51.86. Though the 40-day moving average has kept a cap on gains this week, the equity just broke past several short- and long-term moving averages above the $42 level, including the 10-day trendline.

There is plenty of room for bull notes that could send Pfizer stock higher. Of the 11 analysts in coverage, seven still carry a tepid "hold" rating on the pharmaceutical name. 

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