FDA Approves Pfizer’s Tick-Borne Encephalitis Vaccine

The U.S. Food and Drug Administration (FDA) has approved Pfizer’s (PFE) tick-borne encephalitis (TBE) vaccine TICOVAC for active immunization to prevent TBE in people aged one and above. Based in Manhattan, Pfizer manufactures vaccines and medicines for neurology, endocrinology, cardiology, oncology and immunology.

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TICOVAC is the only vaccine approved by the FDA to protect individuals from the TBE virus when living in or visiting TBE endemic areas. TBE is a viral infection of the spine and brain, and humans can get it through the bite of an infected tick.

The Global President of Vaccines at Pfizer, Nanette Cocero (Ph.D), said, “This authorization helps to ensure that people from the U.S. are also able to receive this vaccination if needed.” (See Pfizer stock chart on TipRanks)

The U.S. Centers for Disease Control and Prevention’s (CDC) Advisory Committee on Immunization Practices (ACIP) is likely to provide recommendations on the use of TICOVAC. Furthermore, the vaccine is available in Europe under the brand names TicoVac and FSME-Immun.

The company’s shares surged 2.6% on Friday and gained another 0.5% in after-hours trading to finally close at $48.73.

Following the announcement of Pfizer’s second-quarter financial results, RBC Capital analyst Daniel Busby reiterated a Hold rating on the stock with a price target of $44 (9.2% downside potential).

The analyst said, “Overall, while we are encouraged by the quarter, we continue to see shares as fairly valued at current levels.”

The stock has a Hold consensus based on 2 Buys and 9 Holds. The average Pfizer price target of $44.73 implies 7.7% downside potential. The company’s shares have gained 39.8% over the past six months.

According to TipRanks’ Smart Score rating system, Pfizer scores a 6 out of 10, suggesting that the stock is likely to perform in line with market averages.