Why Pfizer Stock Was so Healthy in August

Pfizer stock surged nearly 14% in August following better-than-expected Q2 earnings (revenue $15B vs. $14.4B expected, EPS $0.77 vs. $0.68 expected) and raised full-year revenue guidance. The company also achieved regulatory victories with EMA validation for a Lyme disease treatment and FDA approval for an updated COVID vaccine. Despite investor impatience over the lack of new blockbuster products, the analyst views Pfizer as undervalued with a promising pipeline from recent acquisitions.