At the JPMorgan Healthcare Conference, he said adjusted profit would register $3 to $3.10 a share this year, compared with Bloomberg’s analyst consensus of $3.18.
Pfizer, of course, is responsible for the first covid vaccine authorized for emergency use in the U.S.
Pfizer shares recently traded $36.93, down 2.2%, and have slipped 1.3% over the past 12 months.
Investors don’t see the vaccine as a game changer for Pfizer because it will represent only a small portion of its revenue and likely won’t be around for too long.
In an interview with CNBC, Bourla expressed enthusiasm over news reports that the government wants to widen eligibility for the vaccine.
Various media organizations reported that the White House intends to issue guidelines asking states to make everyone 65 and older eligible for vaccines.
“If this is true what we’re hearing, it is very positive,” Bourla said. “I think this is exactly what needs to be done.” He said Pfizer has the supply to accommodate expansion.
Morningstar analyst Damien Conover puts fair value at $40 for Pfizer.
“Pfizer's foundation remains solid, based on strong cash flows generated from a basket of diverse drugs,” he wrote in November.
“The company's large size confers significant competitive advantages in developing new drugs. This unmatched heft, combined with a broad portfolio of patent-protected drugs, has helped Pfizer build a wide economic moat around its business.”