Pfizer Inc. reported Monday with strong Phase 3 interim efficacy data for its coronavirus vaccine candidate.

The Pfizer Analysts: Morgan Stanley analyst David Risinger has an Equal-weight rating on Pfizer with a $42 price target.

SVB Leerink analyst Geoffrey Porges reiterated a Market Perform rating and increased the price target from $43 to $44.

Morgan Stanley On Pfizer’s Vaccine Economics, Timeline: The more than 90% efficacy with 94 cases suggests the final analysis with 164 cases will in all likelihood exceed the FDA’s efficacy criteria of 50%, Risinger said in a note.

Based on this and the lack of any serious safety concerns, the analyst raised the vaccine’s probability of success from 65% to 100%.

With Pfizer planning to submit emergency use authorization in the third week of November — when it has two months of median safety data — Risinger said he expects the FDA to hold a panel meeting to discuss the data by early-to-mid December. CLICK for complete article