On September 3, three drug firms responded to the U.S. President criticizing the success of COVID products.
Pfizer (PFE) said that it would plan to share new data related to its updated COVID shot. The firm co-developed the vaccine with BioNTech (BNTX). The firm said, “President Trump’s call for transparency is welcomed, and we remain deeply committed to that principle.”
Moderna (MRNA) said that it tests its Spikevax shot’s effectiveness annually. Over five million people received the product in the last several years.
Novavax (NVAX) said that it agreed with Trump’s request for more COVID vaccine data. The firm added that its publications included preclinical and clinical data. Novavax also provided real-world evidence for COVID vaccines in those reports.
Shares of Pfizer and Moderna are under modest selling pressure. PFE stock has formed an uptrend since April, while MRNA stock retested its lows in the $23.15 - $25.50 range.
Markets are too negative on Pfizer’s prospects in vaccine sales. The company published over 600 peer-reviewed studies with data to back the efficacy of its mRNA-based COVID vaccine. Still, sales are waning when the public believes it does not need a seasonal shot.
MRNA stock has the most downside risks. Bears hold an 18.29% short float against the stock. They are even more bearish on Novavax with a 25.75% short float.
Among the three, PFE stock is the most attractive. The P/E is around 13 times, and the stock pays a dividend that yields nearly 7%.
