Pfizer stock jumped 4% in pre-market as total COVID vaccine sales soar

Pfizer (PFE.US) stock price rose sharply before the opening bell after the pharmaceutical company posted upbeat quarterly results. In the third quarter Pfizer earned $1.34 per share, well above analysts' estimates of $1.09 per share. Revenue also topped market expectations. Group sales for the third-quarter sales were 130% higher than a year earlier at $24.1 billion, while Wall Street expected $22.58 billion in revenue helped by soaring international sales of its Covid-19 vaccine. 

The company also issued an improved full-year guidance on strong demand for both its Covid-19 vaccine and non-Covid treatments. The drugmaker now expects 2021 adjusted earnings of $4.13 to $4.18 per share on revenue ranging from $81 billion to $82 billion. Meanwhile for 2021, analysts expect earnings of $4.04 per share on $78.77 billion in revenue. Company now expects to book about $36 billion in sales from the vaccine this year.

Pfizer (PFE.US) stock rose 4% in pre-market and is currently testing 38.2% Fibonacci retracement of the last downward wave. Source: xStation5