Drug maker Pfizer share price rose over 3 percent intraday after it announced that its coronavirus vaccine was more than 90% effective in preventing infection.
In the previous trading session the share touched its 52-week high Rs 5,875, while it touched 52-week low Rs 3,588.15 on 13 March, 2020.
Pfizer says an early peek at its vaccine data suggests the shots maybe 90% effective at preventing COVID-19, indicating the company is on track later this month to file an emergency use application with US regulators.
After registering a lifetime highs of Rs 5,239 a couple of weeks back (ignoring Tuesday’s high) this counter appears to have slipped into a multi-week consolidation phase in a range of Rs 5239–4679, said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in
"Despite big positive news flows of Tuesday, this counter failed to decisively close above Rs 5239 levels. On such a close bulls can derive some comfort and look for a range breakout target of close Rs 5,799."
"Contrary to this, a close below Rs 4887 shall result in a sharp correction with targets close to Rs 4300 levels. For time being traders can hold with a stop below Rs 4990 on closing basis and look for a target of Rs 5750," he added.
The company had reported a 14.83 percent decline in its September quarter net profit at Rs 131.37 crore against Rs 154.25 crore for the corresponding period of the previous fiscal.
"Prizer Inc andBioNTech have announced that their mRNA-based vaccine candidate, BNT162b2, was found to be more than 90% effective in preventing COVID-19 in participants without evidence of priorSARS-CoV-2 infection in the first interim efficacy analysis. This is the first set of results announced by the companies from the phase 3 trials. Safety and additional efficacy data continues to be collected and is expected to be released by the third week of November," said Jyoti Roy - DVP- Equity Strategist, Angel Broking.
American pharma company Pfizer is currently in discussions with the government to distribute its potential COVID-19 vaccine in India. According to a Spokesperson for Pfizer who spoke to LiveMint, Pfizer believes that its candidate has the potential to be an important part of India’s early vaccine response.
At 09:26 hrs Pfizer was quoting at Rs 5,200, up Rs 142.10, or 2.81 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
