The shares of Pfizer Inc (NYSE:PFE) were last seen up 4.9% to trade at $24.4, after the pharmaceutical giant's second-quarter results beat expectations. The company also lifted its 2025 profit outlook, citing strength for its Covid-19 drugs as well as its Vyndaqel heart medication.
Pfizer was one of the 17 companies President Donald Trump wrote to demanding lower drug prices. The firm said its current guidance absorbs the cost of tariffs and cost-cutting measures. In other news, the company will also abandon yet another GLP-1 drug from its struggling weight-loss program.
Familiar support at the $23 level captured Pfizer stock's latest pullback before today's pop. The security has been chopping higher since early April, but is still down 6.8% year to date.
Options bulls are targeting PFE after the news, with 89,000 calls exchanged -- double the intraday average -- in comparison to just 20,000 puts. The August 25 call is the most active, followed by the weekly 8/8 25-strike call.
