Pfizer's Updated COVID Vaccine Receives EU Approval with Potential Upside

Pfizer and BioNTech's updated COVID-19 vaccine targeting the LP.8.1 variant has been approved by the European Medicines Agency. Analysts forecast an average one-year price target of $28.76, indicating a potential 13.46% upside. The stock holds a "Hold" consensus and a GF Value estimate of $27.27, indicating a 7.57% upside.

The European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has recommended marketing authorization for Pfizer and BioNTech's LP.8.1-adapted monovalent COVID-19 vaccine (COMIRNATY® LP.8.1) for individuals aged 6 months and older. The adaptation targets the LP.8.1 variant, aiming to maintain the vaccine's effectiveness as SARS-CoV-2 continues to evolve [1].

Data indicate that the LP.8.1-adapted vaccine confers improved immune responses against currently dominant and emerging sublineages, including XFG and NB.1.8.1 variants, compared to previous formulations. The CHMP's recommendation is based on extensive clinical, non-clinical, and real-world data supporting the safety and efficacy of Pfizer and BioNTech's COVID-19 vaccines [1].

Upon authorization by the European Commission (EC), the LP.8.1-adapted vaccine will be available for individuals 6 months of age and older. Pfizer and BioNTech have already initiated manufacturing of the vaccine to ensure supply readiness ahead of the fall and winter season [1].

Analysts forecast an average one-year price target of $28.76 for Pfizer, indicating a potential 13.46% upside. The stock holds a "Hold" consensus and a GF Value estimate of $27.27, indicating a 7.57% upside [2].

References:
[1] https://investors.biontech.de/news-releases/news-release-details/pfizer-and-biontech-receive-positive-chmp-opinion-lp81-adapted-0
[2] https://investors.biontech.de/news-releases/news-release-details/pfizer-and-biontech-receive-positive-chmp-opinion-lp81-adapted-0