{"id":84077,"date":"2023-11-13T16:21:06","date_gmt":"2023-11-13T21:21:06","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/pfizer-stock-hits-3-year-low-down-50-from-2021-peak\/"},"modified":"2023-11-13T16:21:08","modified_gmt":"2023-11-13T21:21:08","slug":"pfizer-stock-hits-3-year-low-down-50-from-2021-peak","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84077","title":{"rendered":"Pfizer Stock Hits 3-Year Low\u2014Down 50% From 2021 Peak"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>Pfizer shares tumbled again Monday, continuing the pharmaceutical giant\u2019s struggles tied to declining demand for its Covid-19 products<strong> <\/strong>and essentially wiping out the entirety of the firm\u2019s peak pandemic gains.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>Pfizer stock slipped 1.6% to $28.96, closing at its lowest share price since March 26, 2020.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Excluding March 2020, when the stock market briefly crashed amid stay-at-home orders, Pfizer is now at its lowest share price since December 2016.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>Pfizer shares are down more than 50% since their December 2021 peak of $57, with the stock crash coinciding with a significant decline in sales for its Paxlovid oral Covid treatment and its Covid vaccine.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>After notching record overall revenue and profits in 2022, Pfizer\u2019s luck has run out so far in 2023, reporting a 42% decline through the year\u2019s first nine months and reporting its first quarterly loss since 2019 in its October 31 earnings report.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad>\n <\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Big Number<\/h2>\n<p>$170 billion. That\u2019s how much market capitalization Pfizer has lost since December 2021.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Including dividends, Pfizer has posted a -40% return on investment this year, the 15th-steepest loss of any S&amp;P 500 company. Other pharmaceutical stocks which soared during early development and adoption of Covid treatments have also flailed, including Moderna (down about 80% from its 2021 peak), BioNTech (down about 70% from 2021 peak) and Johnson &amp; Johnson (down nearly 20% from 2021 high). Pfizer\u2019s recent plunge came after the company slashed sales guidance for October 16, with sales for its vaccine down 70% year-over-year and Paxlovid revenues down 95%. Pfizer \u201cfinally threw in the towel on the potential for reinvigorated\u201d demand for its two primary Covid products, UBS analyst Colin Bristow wrote in a note to clients last month.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Contra<\/h2>\n<p>It\u2019s not all doom and gloom for pharmaceutical stocks, though the balance of power has shifted. Drug makers Eli Lilly and Novo Nordisk have both climbed more than 70% over the last 12 months as their respective weight loss medications surge in popularity, and the two are now the most valuable pharmaceutical companies in the world by market cap. Pfizer, which was more valuable than both Eli Lilly and Novo Nordisk at the end of 2021, is now worth less than half of each firm.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/dereksaul\/2023\/11\/13\/pfizer-stock-hits-3-year-low-down-50-from-2021-peak\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline Pfizer shares tumbled again Monday, continuing the pharmaceutical giant\u2019s struggles tied to declining demand for its Covid-19 products and essentially wiping out the entirety of the firm\u2019s peak pandemic gains. Key Facts Pfizer stock slipped 1.6% to $28.96, closing at its lowest share price since March 26, 2020. Excluding March 2020, when the stock [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":84078,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-84077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pfizer Stock Hits 3-Year Low\u2014Down 50% From 2021 Peak | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Pfizer shares tumbled again Monday, continuing the pharmaceutical giant\u2019s struggles tied to declining demand for its Covid-19 products and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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