Pfizer (PFE) and BioNTech (BNTX) Say Early Data Shows Booster Protects Against Omicron Variant, Analyst Sees 'Best in Class Covid Franchise'
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Two companies added that two doses of their vaccine may not be enough to protect against Omicron.
“Although two doses of the vaccine may still offer protection against severe disease caused by the Omicron strain, it’s clear from these preliminary data that protection is improved with a third dose of our vaccine. Ensuring as many people as possible are fully vaccinated with the first two dose series and a booster remains the best course of action to prevent the spread of COVID-19,” said Albert Bourla, Chairman and Chief Executive Officer, Pfizer.
The third dose of their vaccine provides a similar level of neutralizing antibodies to Omicron, compared to the protection that two doses provided against the novel COVID infection and other prior variants.
“Data indicate that a third dose of BNT162b2 increases the neutralizing antibody titers by 25-fold compared to two doses against the Omicron variant,” two companies said in a press release.
Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and a $61.00 per share price target on PFE shares following the announcement.
"We would also note that PFE is creating a best in class COVID-19 franchise with strong data from its oral antiviral treatment for COVID-19. The company will provide a review of its COVID-19 vaccine and oral antiviral treatment at an upcoming analyst and investor event on Friday, December 17th," Chen said in a client note.
Pfizer share price is up 1.5% in pre-open Wednesday on this news.
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Related EntitiesCantor Fitzgerald, Louise Chen, Pre Market Movers
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