Pfizer's Late-Stage COVID-19 Vaccine Data In Adolescents Reinforces Bull Case, Analyst Says

Pfizer Inc. PFE and its German partner BioNTech SE BNTX announced positive results Wednesday from a late-stage study of the COVID-19 vaccine BNT162b2 in adolescents.

The Pfizer Analyst: Cantor Fitzgerald analyst Louise Chen maintained an Overweight rating on Pfizer with a $53 price target.

The Pfizer Takeaways: The positive topline results are good news for the company, underlining Pfizer's ability to pivot and innovate quickly, Chen said in a note. 

The data reinforces Cantor's positive investment thesis on the stock and view that Pfizer's pipeline is underappreciated, the analyst said. 

Related Link: The Daily Biotech Pulse: Pfizer Vaccine 100% Effective In Adolescents, Equillium Readout, Amgen Goes Shopping, Achilles IPO

BNT162b2 demonstrated 100% efficacy and robust antibody responses in 12-15-year-olds and was also well-tolerated, she said.

Pfizer and BioNTech plan to submit the data to the FDA and the European Medicines Agency in order to secure an expansion to the vaccine's emergency use authorization, Chen said.

Pfizer has also commenced a global Phase 1/2/3 study to evaluate the vaccine in children, ages 6 months to 11 years, the analyst said. The company is evaluating a two-dose schedule given about 21 days apart in three cohorts: children ages 5 to 11, 2-5 and from 6 months to 2 years, she said. 

PFE Price Action: In premarket trading Wednesday, Pfizer shares were up 0.11% to $36.16. 

Related Link: The Week Ahead In Biotech (March 28-April 3): Acadia's Dementia Drug Update, Clinical Readouts, Few Earnings In Holiday-Shortened Week

Posted In: Cantor FitzgeraldLouise ChenAnalyst ColorBiotechNewsHealth CarePrice TargetReiterationAnalyst RatingsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.