Shares of Pfizer Inc up, as the hopes for Covid vaccine increase

Pfizer Inc is an American multination leading pharmaceutical company. It stands among the largest pharmaceutical companies around the world. In 2018, Fortune 500 ranked the company at 57 as one of the largest US companies by total revenue. In 2019, the revenue of the company was as much as $51.75 billion.

The recent movements in the market show that the prices of the shares of Pfizer are up around 4 percent. The prices of the shares have been mostly driven by positive news regarding the Covid-19 vaccine. Recently, the company, along with BioNTech have filed for Covid-19 vaccine approval in Europe.

The past 5-day change of the shares of the company is also positive and stands at +4.39%. The price per earnings ratio of the company stands at 13.06, because of which,  leading Stocks Brokers in the market are saying that the price is very good for buying. The annual dividend and yield paid are also considerably high, standing at 4.08%. The market capitalization of the company is around $212,942,160. The annual sales of the company are $51.750m, and the annual income stands around $16 m.

Pfitzer and its partner BioNTech are looking forward to getting clearance for their coronavirus vaccine in the European Union. The companies have announced that they are hoping to get the approval before the end of the year. The Medicine Agency of the European Union has announced today that they are working on their opinion, claiming that they might announce it in the coming weeks. The meeting on the assessment is scheduled for December 29, at the latest.

Prices of Pfitzer over the last few months

The chart candlestick chart that is shown above resembles the changes in the prices of the shares of Pfizer. As you can see, the prices of the company have had some challenges over the last year. First, at the beginning of the year, the prices were on the rise. Quickly after, in February, the prices saw their first dip.

It was followed by a huge drop in March, which was the most significant in the middle of March, during the Stock Market Crash of 2020. The prices of the shares of the company were almost half of what it was before the pandemic. However, unlike other companies around the world, Pfizer, because of its significant importance in the market, has quickly overcome the challenges.

Because of the coronavirus pandemic, the demand for medical supplies has increased a lot, which has resulted in increasing prices of the shares of the company. As you can see from the chart above, in Summer, the prices of the shares of the company still fell. However, it got back to previous positions very fast. For most of Fall 2020, the prices of the shares of Pfizer were changing in an unstable way.

As of today, the prices are increasing because of the current situation around the world. Although the number of Covid-infected patients is increasing very fast in most of the countries globally, the hopes for the situation to get better is increasing as well. The world is awaiting a vaccine for coronavirus, and the ones created by Pfizer and BioNTech are showing a lot of hope.

This is the major reason why the prices of the shares of the company are increasing at a such fast pace. However, it should also be noted that Pfizer is not the only company that is working on a vaccine for Covid-19. There are many other companies around the world who are working to come up with the most useful vaccine for the virus.

Recently, as we have already said, the company has addressed the European Union to give to approve the vaccine for coronavirus. BioNTech has announced that it is ready to start shipping the first doses of the coronavirus as soon as the regulator clears the company. In addition to Pfizer, the shares of BioNTech have also increased by as much as 2.3% in the German trading market.

In November, there was a special study that was concluded by the company. The study was participated by almost 44,000 people. It showed that the shot prevented as much as 95% of symptomatic coronavirus cases. If the vaccine of the company is approved in the coming day, it would further spark the increasing prices of the shares of the company.

The Covid-19, which started global spreading in March 2019. Because of the fast pace of the spread of the virus, many countries had to adopt restrictive measures, which has resulted in a very hard economic situation globally.