Pfizer Inc. (NYSE:PFE) stock plummeted in late January when US authorities turned down a treatment for growth hormone deficiency in children. The announcement came only days after Pfizer (PFE) and BioNTech (BNTX) released new test data showing that three doses of their Covid vaccination produce antibodies capable of targeting the omicron variant. However, two doses may be enough to prevent major disease, according to the company.
PFE stock takes a buy point in technical analysis
Source – TradingView
Pfizer’s stock fell yesterday. As a result of the drop, pharmaceutical equities as a whole have taken a big hit. In late November, PFE stock reached its buy target of 51.96 out of a cup base.
The stock has now completed a full circle around that entry. As a result, Pfizer’s stock declined in line with its 50-day moving average on January 18. However, the stock is still trading substantially above its 200-day moving average.
Pfizer’s stock has a Composite Rating of 98. The indicator compares a stock’s major growth parameters to those of all other equities. The majority of leading stocks have CRs of 95 or higher.
The stock of Pfizer also has a Relative Strength Rating of 97 out of a maximum of 99. The RS Rating compares a stock’s 12-month performance to the performance of all other stocks. That RS Rating indicates that Pfizer’s stock is among the top 3% of all equities in terms of performance.
In addition, the pharmaceutical company’s EPS Rating, which is a measure of profitability, is 80 out of a maximum of 99. The EPS Rating compares a company’s recent and long-term profits growth to that of all other companies.
So, is PFE stock a good investment right now?
PFE stock isn’t a buy right now, according to technical analysis. The company, on the other hand, is likely to record positive growth in the fourth quarter. However, this will largely be due to its Covid vaccine.
It’s crucial to keep an eye on Pfizer’s stock while it works on Covid vaccines alongside BioNTech. So far, the results appear encouraging, but it will be interesting to see how the company handles the omicron variant’s supremacy.
La notizia Is Pfizer stock a buy or sell after the FDA’s rejection sparked a stock sell-off? era stato segnalata su Invezz.
