Blue-chip pharmaceutical giant Pfizer, Inc. (NYSE:PFE) and partner BioNTech SE (NASDAQ:BNTX) shared the positive results from the Phase 2/3 study of the booster dose for its Omicron sublineages BA.4/BA.5 adapted bivalent vaccine. The study displayed a substantial increase in the neutralizing antibodies against the substrates as compared to pre-booster levels.
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Also, the new booster is expected to offer better protection as compared to the original vaccine, the company said. Following the news, PFE stock rose 2.3% and BNTX stock popped 2.5% on October 13.
The study was conducted on 40 participants each in the age group of 18-55 years and over 55 years. A sample collected after seven days of administering a 30-µg booster dose of the Omicron BA.4/BA.5-adapted bivalent vaccine showed a favorable response and safety profile.
Meanwhile, the U.S. Food and Drug Administration (FDA) has approved the Emergency Use Authorization (EUA) of a 30-µg booster dose of the adapted bivalent vaccine in the age group of 12 years and above. Similarly, the FDA has approved the EUA of a 10-µg booster dose of the adapted bivalent vaccine for children aged 5 to 11 years.
Happy with the results, Albert Bourla, Chairman and CEO of Pfizer said, “While we expect more mature immune response data from the clinical trial of our Omicron BA.4/BA.5-adapted bivalent vaccine in the coming weeks, we are pleased to see encouraging responses just one week after vaccination in younger and older adults. These early data suggest that our bivalent vaccine is anticipated to provide better protection against currently circulating variants than the original vaccine and potentially help to curb future surges in cases this winter.”
Is Pfizer a Buy, Sell, or Hold?
Owing to the waning demand for COVID-19 vaccines, which have remained the major revenue contributor for Pfizer, analysts are split on PFE stock’s trajectory. On TipRanks, Pfizer stock has a Moderate Buy consensus rating based on five Buys versus seven Holds. The average Pfizer price target of $55.25 implies 28.5% upside potential to current levels. Year to date, the stock has lost 22.3%.
Recently, two analysts lowered their price targets on PFE stock owing to current headwinds, including an expectation of weak vaccine sales in Q3 and a tough macroeconomic backdrop. Meanwhile, Pfizer is trying to up its booster demand through a tie-up with Marvel comics and informing the masses about the importance and benefits of vaccination.
