个人中心 - 老虎社区

WilMic

IP属地：未知

帖子 · 17帖子 · 17
关注 · 0关注 · 0
粉丝 · 0粉丝 · 0

- WilMicWilMic
  ·2021-12-24
  Buy now then wait long long ....all 3 go up together?
  3 Stocks to Buy While They Are on Sale<blockquote>3只打折时值得买入的股票</blockquote>
  The market has been particularly harsh to high-growth stocks over recent months, causing major price
  3 Stocks to Buy While They Are on Sale<blockquote>3只打折时值得买入的股票</blockquote>
  2,343 评论
  3
  分享
  举报
- WilMicWilMic
  ·2021-12-22
  AAL up!
  非常抱歉，此主贴已删除
  2,899 1
  4
  分享
  举报
- WilMicWilMic
  ·2021-12-02
  $UPST 20211203 187.5 PUT$ Walao!
  4,236 3
  5
  分享
  举报
- WilMicWilMic
  ·2021-12-01
  Novax no promising sale yet...wait and see better
  Novavax Vs. Pfizer Stock: Which Is The Better Buy?<blockquote>Novavax 与辉瑞股票：哪个更好买？</blockquote>
  Summary Pfizer expects Comirnaty to account for $36B in revenue in FY21 and $29B in sales in FY22.
  Novavax Vs. Pfizer Stock: Which Is The Better Buy?<blockquote>Novavax 与辉瑞股票：哪个更好买？</blockquote>
  2,827 评论
  3
  分享
  举报
- WilMicWilMic
  ·2021-11-30
  😂 LOL math must be fail.
  非常抱歉，此主贴已删除
  2,654 评论
  点赞
  分享
  举报
- WilMicWilMic
  ·2021-11-28
  What if continue bearish for another 2 years? My $5k stuck? Opportunity to earn more well be gone right?
  非常抱歉，此主贴已删除
  3,913 2
  5
  分享
  举报
- WilMicWilMic
  ·2021-11-23
  Billionaire want to become the Real shareholder. Up or down doesn't matter for Billionaires. So long biz generate return for him. Trader look for profit not long term
  非常抱歉，此主贴已删除
  3,425 1
  10
  分享
  举报
- WilMicWilMic
  ·2021-11-23
  Buy both lol
  非常抱歉，此主贴已删除
  2,687 2
  3
  分享
  举报
- WilMicWilMic
  ·2021-11-17
  Buy
  非常抱歉，此主贴已删除
  3,142 1
  4
  分享
  举报
- WilMicWilMic
  ·2021-11-07
  Giant capital make giant profile, make sense
  非常抱歉，此主贴已删除
  2,873 评论
  9
  分享
  举报

热议股票

{"i18n":{"language":"zh_CN"},"isCurrentUser":false,"userPageInfo":{"id":"4090040387780440","uuid":"4090040387780440","gmtCreate":1626938856806,"gmtModify":1627286356701,"name":"WilMic","pinyin":"wilmic","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":5,"headSize":7,"tweetSize":17,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-3","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"偶像虎友","description":"加入老虎社区1500天","bigImgUrl":"https://static.tigerbbs.com/8b40ae7da5bf081a1c84df14bf9e6367","smallImgUrl":"https://static.tigerbbs.com/f160eceddd7c284a8e1136557615cfad","grayImgUrl":"https://static.tigerbbs.com/11792805c468334a9b31c39f95a41c6a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.04.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"228c86a078844d74991fff2b7ab2428d-3","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资合伙人虎","description":"证券账户累计交易金额达到100万美元","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.06.19","exceedPercentage":"93.72%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"02aa7f16703b4ce4ace6f1a7665789cc-1","templateUuid":"02aa7f16703b4ce4ace6f1a7665789cc","name":"知识体验官","description":"观看学堂课程满5节","bigImgUrl":"https://static.tigerbbs.com/fb5ae275631fb96a92d475cdc85d2302","smallImgUrl":"https://static.tigerbbs.com/c2660a1935bd2105e97c9915619936c3","grayImgUrl":null,"redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2024.05.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":2006,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.10.30","exceedPercentage":"93.55%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.28","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":6,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":698848855,"gmtCreate":1640351598698,"gmtModify":1640351617984,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Buy now then wait long long ....all 3 go up together?","listText":"Buy now then wait long long ....all 3 go up together?","text":"Buy now then wait long long ....all 3 go up together?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698848855","repostId":"1141357068","repostType":4,"repost":{"id":"1141357068","kind":"news","pubTimestamp":1640337018,"share":"https://www.laohu8.com/m/news/1141357068?lang=zh_CN&edition=full","pubTime":"2021-12-24 17:10","market":"us","language":"en","title":"3 Stocks to Buy While They Are on Sale<blockquote>3只打折时值得买入的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141357068","media":"Motley Fool","summary":"The market has been particularly harsh to high-growth stocks over recent months, causing major price","content":"<p>The market has been particularly harsh to&nbsp;high-growth&nbsp;stocks&nbsp;over recent months, causing major price declines in otherwise solid companies. The omicron coronavirus variant, soaring inflation, and the possibility of interest rate hikes next year are all causing uncertainty for investors today.</p><p><blockquote>近几个月来，市场对高增长股票的打击尤其严重，导致原本稳健的公司价格大幅下跌。奥密克戎冠状病毒变种、通胀飙升以及明年加息的可能性都给今天的投资者带来了不确定性。</blockquote></p><p> Opportunities to buy outstanding businesses at significant discounts to their recent highs are rare. Now is not the time to abandon your long-term investing strategy. Instead, take a look at the following stocks as potential additions to your portfolio right now.</p><p><blockquote>以较近期高点大幅折扣购买优秀企业的机会很少。现在不是放弃长期投资策略的时候。相反，现在就看看以下股票作为您投资组合的潜在补充。</blockquote></p><p> <b>1. Etsy</b></p><p><blockquote><b>1.Etsy</b></blockquote></p><p> The first stock you should consider is online marketplace&nbsp;<b>Etsy</b>&nbsp;(NASDAQ:ETSY). It's down 26% in the past month as investors worry that the pandemic-induced surge in demand for its unique goods will fade with economies slowly reopening. But if we zoom out and focus on the bigger picture, Etsy is doing just fine.</p><p><blockquote>您应该考虑的第一只股票是在线市场<b>Etsy</b>（纳斯达克：ETSY）。过去一个月下跌了26%，因为投资者担心，随着经济缓慢重新开放，大流行引发的对其独特商品的需求激增将会消退。但如果我们缩小范围，关注更大的图景，Etsy做得很好。</blockquote></p><p> The platform generated $3.1 billion in gross merchandise sales (GMS) in the third quarter, up 17.9% over the year-ago period. This was all the more impressive given that a year ago GMS shot up 119%. The ecosystem is robust and growing with 96 million active buyers and 7.5 million active sellers, both of which are up substantially on a sequential basis.</p><p><blockquote>该平台第三季度商品销售总额(GMS)为31亿美元，同比增长17.9%。考虑到一年前GMS飙升了119%，这就更加令人印象深刻了。该生态系统强大且不断增长，拥有9600万活跃买家和750万活跃卖家，这两个数字均环比大幅增长。</blockquote></p><p> Over the past 12 months, Etsy's profit margin was a superb 21.6%. And the&nbsp;business is a cash cow, producing $584&nbsp;million in free cash flow during that time. That leaves lots of room to potentially buy back stock, further boosting earnings per share.</p><p><blockquote>过去12个月，Etsy的利润率高达21.6%。该业务是一棵摇钱树，在此期间产生了5.84亿美元的自由现金流。这为回购股票留下了很大的空间，进一步提高了每股收益。</blockquote></p><p> The stock has been a massive outperformer, skyrocketing nearly 1,600%&nbsp;over the past five years. But don't think the party is over for this&nbsp;booming&nbsp;e-commerce&nbsp;business. CEO Josh Silverman has ambitions to create a \"House of Brands\" that will penetrate what the leadership team believes is a $1.7&nbsp;trillion global opportunity. The recent acquisitions of Depop, a secondhand-fashion reseller, and Elo7, known as the Etsy of Brazil, should help support that&nbsp;vision of growth for the company in the decade ahead.</p><p><blockquote>该股表现出色，在过去五年中飙升了近1,600%。但不要认为这个蓬勃发展的电子商务业务的派对已经结束。首席执行官乔什·西尔弗曼(Josh Silverman)雄心勃勃地创建一个“品牌之家”，以渗透领导团队认为的1.7万亿美元的全球机遇。最近对二手时装经销商Depop和被称为巴西Etsy的Elo7的收购应该有助于支持该公司未来十年的增长愿景。</blockquote></p><p> <b>2. The Joint Corp.</b></p><p><blockquote><b>2.联合公司。</b></blockquote></p><p> Who knew that offering fast and&nbsp;affordable back adjustments would be such a&nbsp;lucrative&nbsp;business model? That's exactly what&nbsp;<b>The Joint Corp.</b>&nbsp;(NASDAQ:JYNT)is doing. The nationwide franchisor and operator of&nbsp;666&nbsp;chiropractic clinics has been growing at a breathtaking pace. A decade ago, the company had just 26 locations.</p><p><blockquote>谁知道提供快速和负担得起的背部调整会是一个如此有利可图的商业模式？这正是<b>联合公司。</b>（纳斯达克：JYNT）正在做。全国666家脊椎指压治疗诊所的特许经营商和经营者一直在以惊人的速度增长。十年前，该公司只有26个地点。</blockquote></p><p> After reaching an all-time high of $107.30 in early September, the stock has crashed over 40%. Even so, the price is up 135% year to date. This company does away with the traditional, insurance-based structure by letting patients walk in (no appointment needed) and receive quick and effective treatment from a licensed chiropractor. At $29, a visit here is often lower than co-pays at independent chiropractor offices.</p><p><blockquote>在9月初达到107.30美元的历史高点后，该股已暴跌超过40%。即便如此，今年迄今为止价格仍上涨了135%。这家公司废除了传统的、基于保险的结构，让病人走进去（不需要预约），接受有执照的脊椎指压治疗师的快速有效的治疗。这里的就诊费用为29美元，通常低于独立脊椎指压治疗师办公室的自付费用。</blockquote></p><p> The model is working. Same-store sales for locations open at least four years jumped 21%&nbsp;in the latest quarter. And with annual spending on back pain in the U.S. estimated to be $134 billion, there is a massive market opportunity. The Joint's trailing-12-month revenue totaled $75 million.</p><p><blockquote>这个模型正在起作用。最近一个季度，开业至少四年的门店同店销售额增长了21%。美国每年在背痛方面的支出估计为1340亿美元，存在巨大的市场机会。该合资企业过去12个月的收入总计7500万美元。</blockquote></p><p> Management is confident the company can one day have 1,800 locations in the U.S., almost triple its current footprint. With 295 clinics in active development and 132 franchise licenses sold in the first nine months of 2021, The Joint is well on its way to bringing chiropractic care to the masses.</p><p><blockquote>管理层相信，该公司有一天可以在美国拥有1,800个分支机构，几乎是目前足迹的三倍。随着295家诊所在积极发展，2021年前9个月售出132份特许经营许可证，该联合公司正在向大众提供脊椎指压治疗护理。</blockquote></p><p> <b>3. Roku</b></p><p><blockquote><b>3.Roku</b></blockquote></p><p> Perhaps the biggest shocker on this list is&nbsp;<b>Roku</b>&nbsp;(NASDAQ:ROKU), which has seen its stock&nbsp;shed roughly half of its value&nbsp;since July. Some challenges, including missing Wall Street's sales estimates in the third quarter plus supply-chain bottlenecks, are certainly pressuring the stock. But I still firmly believe that the long-term outlook for Roku is intact.</p><p><blockquote>也许这份名单上最令人震惊的是<b>Roku</b>（纳斯达克：ROKU），自7月份以来，其股价已下跌约一半。一些挑战，包括第三季度未达到华尔街的销售预期以及供应链瓶颈，无疑给该股带来了压力。但我仍然坚信Roku的长期前景是完整的。</blockquote></p><p> This top streaming business is attractive not because of its media sticks, which have actually been sold at a loss in the past two quarters, but because of its burgeoning platform segment. This is where high-margin advertising and subscription fees are. In the most recent quarter, the platform business represented 86%&nbsp;of total revenue, a figure that has steadily increased over time.</p><p><blockquote>这项顶级流媒体业务之所以有吸引力，并不是因为其媒体棒（过去两个季度实际上一直在亏本出售），而是因为其蓬勃发展的平台部门。这就是高利润广告和订阅费的所在。最近一个季度，平台业务占总收入的86%，这一数字随着时间的推移稳步增长。</blockquote></p><p> Roku's 56.4&nbsp;million active accounts streamed 18 billion hours of content in the latest three-month period. But what really stood out was the average revenue per user of $40.10. The monster success of The Roku Channel, now a top-five channel on the platform, has further helped ad revenue. This allows even greater investment in content (including 50 new original series planned over the next two years), bringing in new viewers.</p><p><blockquote>Roku的5640万活跃账户在最近三个月内播放了180亿小时的内容。但真正突出的是每个用户40.10美元的平均收入。Roku频道（现已成为该平台排名前五的频道）的巨大成功进一步提高了广告收入。这使得在内容上进行更大的投资（包括未来两年计划推出的50部新的原创剧集），带来新的观众。</blockquote></p><p></p><p> The management team, led by CEO Anthony Wood, thinks that streaming is the future of video entertainment. The ongoing decline of cable-TV subscribers makes this trend undeniable. Roku will continue riding this wave as it tackles overseas markets, particularly in Europe and Latin America.</p><p><blockquote>由首席执行官安东尼·伍德领导的管理团队认为流媒体是视频娱乐的未来。有线电视用户的持续下降使得这一趋势不可否认。Roku将继续乘风破浪，进军海外市场，特别是欧洲和拉丁美洲。</blockquote></p><p> Taking advantage of what the market is giving you today by adding shares in these proven winners, now at steep discounts, could be a game-changer for your portfolio.</p><p><blockquote>利用市场今天为您提供的机会，通过添加这些经过验证的赢家的股票（现在以大幅折扣），可能会改变您投资组合的游戏规则。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Stocks to Buy While They Are on Sale<blockquote>3只打折时值得买入的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Stocks to Buy While They Are on Sale<blockquote>3只打折时值得买入的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-12-24 17:10</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market has been particularly harsh to&nbsp;high-growth&nbsp;stocks&nbsp;over recent months, causing major price declines in otherwise solid companies. The omicron coronavirus variant, soaring inflation, and the possibility of interest rate hikes next year are all causing uncertainty for investors today.</p><p><blockquote>近几个月来，市场对高增长股票的打击尤其严重，导致原本稳健的公司价格大幅下跌。奥密克戎冠状病毒变种、通胀飙升以及明年加息的可能性都给今天的投资者带来了不确定性。</blockquote></p><p> Opportunities to buy outstanding businesses at significant discounts to their recent highs are rare. Now is not the time to abandon your long-term investing strategy. Instead, take a look at the following stocks as potential additions to your portfolio right now.</p><p><blockquote>以较近期高点大幅折扣购买优秀企业的机会很少。现在不是放弃长期投资策略的时候。相反，现在就看看以下股票作为您投资组合的潜在补充。</blockquote></p><p> <b>1. Etsy</b></p><p><blockquote><b>1.Etsy</b></blockquote></p><p> The first stock you should consider is online marketplace&nbsp;<b>Etsy</b>&nbsp;(NASDAQ:ETSY). It's down 26% in the past month as investors worry that the pandemic-induced surge in demand for its unique goods will fade with economies slowly reopening. But if we zoom out and focus on the bigger picture, Etsy is doing just fine.</p><p><blockquote>您应该考虑的第一只股票是在线市场<b>Etsy</b>（纳斯达克：ETSY）。过去一个月下跌了26%，因为投资者担心，随着经济缓慢重新开放，大流行引发的对其独特商品的需求激增将会消退。但如果我们缩小范围，关注更大的图景，Etsy做得很好。</blockquote></p><p> The platform generated $3.1 billion in gross merchandise sales (GMS) in the third quarter, up 17.9% over the year-ago period. This was all the more impressive given that a year ago GMS shot up 119%. The ecosystem is robust and growing with 96 million active buyers and 7.5 million active sellers, both of which are up substantially on a sequential basis.</p><p><blockquote>该平台第三季度商品销售总额(GMS)为31亿美元，同比增长17.9%。考虑到一年前GMS飙升了119%，这就更加令人印象深刻了。该生态系统强大且不断增长，拥有9600万活跃买家和750万活跃卖家，这两个数字均环比大幅增长。</blockquote></p><p> Over the past 12 months, Etsy's profit margin was a superb 21.6%. And the&nbsp;business is a cash cow, producing $584&nbsp;million in free cash flow during that time. That leaves lots of room to potentially buy back stock, further boosting earnings per share.</p><p><blockquote>过去12个月，Etsy的利润率高达21.6%。该业务是一棵摇钱树，在此期间产生了5.84亿美元的自由现金流。这为回购股票留下了很大的空间，进一步提高了每股收益。</blockquote></p><p> The stock has been a massive outperformer, skyrocketing nearly 1,600%&nbsp;over the past five years. But don't think the party is over for this&nbsp;booming&nbsp;e-commerce&nbsp;business. CEO Josh Silverman has ambitions to create a \"House of Brands\" that will penetrate what the leadership team believes is a $1.7&nbsp;trillion global opportunity. The recent acquisitions of Depop, a secondhand-fashion reseller, and Elo7, known as the Etsy of Brazil, should help support that&nbsp;vision of growth for the company in the decade ahead.</p><p><blockquote>该股表现出色，在过去五年中飙升了近1,600%。但不要认为这个蓬勃发展的电子商务业务的派对已经结束。首席执行官乔什·西尔弗曼(Josh Silverman)雄心勃勃地创建一个“品牌之家”，以渗透领导团队认为的1.7万亿美元的全球机遇。最近对二手时装经销商Depop和被称为巴西Etsy的Elo7的收购应该有助于支持该公司未来十年的增长愿景。</blockquote></p><p> <b>2. The Joint Corp.</b></p><p><blockquote><b>2.联合公司。</b></blockquote></p><p> Who knew that offering fast and&nbsp;affordable back adjustments would be such a&nbsp;lucrative&nbsp;business model? That's exactly what&nbsp;<b>The Joint Corp.</b>&nbsp;(NASDAQ:JYNT)is doing. The nationwide franchisor and operator of&nbsp;666&nbsp;chiropractic clinics has been growing at a breathtaking pace. A decade ago, the company had just 26 locations.</p><p><blockquote>谁知道提供快速和负担得起的背部调整会是一个如此有利可图的商业模式？这正是<b>联合公司。</b>（纳斯达克：JYNT）正在做。全国666家脊椎指压治疗诊所的特许经营商和经营者一直在以惊人的速度增长。十年前，该公司只有26个地点。</blockquote></p><p> After reaching an all-time high of $107.30 in early September, the stock has crashed over 40%. Even so, the price is up 135% year to date. This company does away with the traditional, insurance-based structure by letting patients walk in (no appointment needed) and receive quick and effective treatment from a licensed chiropractor. At $29, a visit here is often lower than co-pays at independent chiropractor offices.</p><p><blockquote>在9月初达到107.30美元的历史高点后，该股已暴跌超过40%。即便如此，今年迄今为止价格仍上涨了135%。这家公司废除了传统的、基于保险的结构，让病人走进去（不需要预约），接受有执照的脊椎指压治疗师的快速有效的治疗。这里的就诊费用为29美元，通常低于独立脊椎指压治疗师办公室的自付费用。</blockquote></p><p> The model is working. Same-store sales for locations open at least four years jumped 21%&nbsp;in the latest quarter. And with annual spending on back pain in the U.S. estimated to be $134 billion, there is a massive market opportunity. The Joint's trailing-12-month revenue totaled $75 million.</p><p><blockquote>这个模型正在起作用。最近一个季度，开业至少四年的门店同店销售额增长了21%。美国每年在背痛方面的支出估计为1340亿美元，存在巨大的市场机会。该合资企业过去12个月的收入总计7500万美元。</blockquote></p><p> Management is confident the company can one day have 1,800 locations in the U.S., almost triple its current footprint. With 295 clinics in active development and 132 franchise licenses sold in the first nine months of 2021, The Joint is well on its way to bringing chiropractic care to the masses.</p><p><blockquote>管理层相信，该公司有一天可以在美国拥有1,800个分支机构，几乎是目前足迹的三倍。随着295家诊所在积极发展，2021年前9个月售出132份特许经营许可证，该联合公司正在向大众提供脊椎指压治疗护理。</blockquote></p><p> <b>3. Roku</b></p><p><blockquote><b>3.Roku</b></blockquote></p><p> Perhaps the biggest shocker on this list is&nbsp;<b>Roku</b>&nbsp;(NASDAQ:ROKU), which has seen its stock&nbsp;shed roughly half of its value&nbsp;since July. Some challenges, including missing Wall Street's sales estimates in the third quarter plus supply-chain bottlenecks, are certainly pressuring the stock. But I still firmly believe that the long-term outlook for Roku is intact.</p><p><blockquote>也许这份名单上最令人震惊的是<b>Roku</b>（纳斯达克：ROKU），自7月份以来，其股价已下跌约一半。一些挑战，包括第三季度未达到华尔街的销售预期以及供应链瓶颈，无疑给该股带来了压力。但我仍然坚信Roku的长期前景是完整的。</blockquote></p><p> This top streaming business is attractive not because of its media sticks, which have actually been sold at a loss in the past two quarters, but because of its burgeoning platform segment. This is where high-margin advertising and subscription fees are. In the most recent quarter, the platform business represented 86%&nbsp;of total revenue, a figure that has steadily increased over time.</p><p><blockquote>这项顶级流媒体业务之所以有吸引力，并不是因为其媒体棒（过去两个季度实际上一直在亏本出售），而是因为其蓬勃发展的平台部门。这就是高利润广告和订阅费的所在。最近一个季度，平台业务占总收入的86%，这一数字随着时间的推移稳步增长。</blockquote></p><p> Roku's 56.4&nbsp;million active accounts streamed 18 billion hours of content in the latest three-month period. But what really stood out was the average revenue per user of $40.10. The monster success of The Roku Channel, now a top-five channel on the platform, has further helped ad revenue. This allows even greater investment in content (including 50 new original series planned over the next two years), bringing in new viewers.</p><p><blockquote>Roku的5640万活跃账户在最近三个月内播放了180亿小时的内容。但真正突出的是每个用户40.10美元的平均收入。Roku频道（现已成为该平台排名前五的频道）的巨大成功进一步提高了广告收入。这使得在内容上进行更大的投资（包括未来两年计划推出的50部新的原创剧集），带来新的观众。</blockquote></p><p></p><p> The management team, led by CEO Anthony Wood, thinks that streaming is the future of video entertainment. The ongoing decline of cable-TV subscribers makes this trend undeniable. Roku will continue riding this wave as it tackles overseas markets, particularly in Europe and Latin America.</p><p><blockquote>由首席执行官安东尼·伍德领导的管理团队认为流媒体是视频娱乐的未来。有线电视用户的持续下降使得这一趋势不可否认。Roku将继续乘风破浪，进军海外市场，特别是欧洲和拉丁美洲。</blockquote></p><p> Taking advantage of what the market is giving you today by adding shares in these proven winners, now at steep discounts, could be a game-changer for your portfolio.</p><p><blockquote>利用市场今天为您提供的机会，通过添加这些经过验证的赢家的股票（现在以大幅折扣），可能会改变您投资组合的游戏规则。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/12/23/3-stocks-to-buy-while-they-are-on-sale/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","ETSY":"Etsy, Inc.","JYNT":"The Joint Corp."},"source_url":"https://www.fool.com/investing/2021/12/23/3-stocks-to-buy-while-they-are-on-sale/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141357068","content_text":"The market has been particularly harsh to high-growth stocks over recent months, causing major price declines in otherwise solid companies. The omicron coronavirus variant, soaring inflation, and the possibility of interest rate hikes next year are all causing uncertainty for investors today.\nOpportunities to buy outstanding businesses at significant discounts to their recent highs are rare. Now is not the time to abandon your long-term investing strategy. Instead, take a look at the following stocks as potential additions to your portfolio right now.\n1. Etsy\nThe first stock you should consider is online marketplace Etsy (NASDAQ:ETSY). It's down 26% in the past month as investors worry that the pandemic-induced surge in demand for its unique goods will fade with economies slowly reopening. But if we zoom out and focus on the bigger picture, Etsy is doing just fine.\nThe platform generated $3.1 billion in gross merchandise sales (GMS) in the third quarter, up 17.9% over the year-ago period. This was all the more impressive given that a year ago GMS shot up 119%. The ecosystem is robust and growing with 96 million active buyers and 7.5 million active sellers, both of which are up substantially on a sequential basis.\nOver the past 12 months, Etsy's profit margin was a superb 21.6%. And the business is a cash cow, producing $584 million in free cash flow during that time. That leaves lots of room to potentially buy back stock, further boosting earnings per share.\nThe stock has been a massive outperformer, skyrocketing nearly 1,600% over the past five years. But don't think the party is over for this booming e-commerce business. CEO Josh Silverman has ambitions to create a \"House of Brands\" that will penetrate what the leadership team believes is a $1.7 trillion global opportunity. The recent acquisitions of Depop, a secondhand-fashion reseller, and Elo7, known as the Etsy of Brazil, should help support that vision of growth for the company in the decade ahead.\n2. The Joint Corp.\nWho knew that offering fast and affordable back adjustments would be such a lucrative business model? That's exactly what The Joint Corp. (NASDAQ:JYNT)is doing. The nationwide franchisor and operator of 666 chiropractic clinics has been growing at a breathtaking pace. A decade ago, the company had just 26 locations.\nAfter reaching an all-time high of $107.30 in early September, the stock has crashed over 40%. Even so, the price is up 135% year to date. This company does away with the traditional, insurance-based structure by letting patients walk in (no appointment needed) and receive quick and effective treatment from a licensed chiropractor. At $29, a visit here is often lower than co-pays at independent chiropractor offices.\nThe model is working. Same-store sales for locations open at least four years jumped 21% in the latest quarter. And with annual spending on back pain in the U.S. estimated to be $134 billion, there is a massive market opportunity. The Joint's trailing-12-month revenue totaled $75 million.\nManagement is confident the company can one day have 1,800 locations in the U.S., almost triple its current footprint. With 295 clinics in active development and 132 franchise licenses sold in the first nine months of 2021, The Joint is well on its way to bringing chiropractic care to the masses.\n3. Roku\nPerhaps the biggest shocker on this list is Roku (NASDAQ:ROKU), which has seen its stock shed roughly half of its value since July. Some challenges, including missing Wall Street's sales estimates in the third quarter plus supply-chain bottlenecks, are certainly pressuring the stock. But I still firmly believe that the long-term outlook for Roku is intact.\nThis top streaming business is attractive not because of its media sticks, which have actually been sold at a loss in the past two quarters, but because of its burgeoning platform segment. This is where high-margin advertising and subscription fees are. In the most recent quarter, the platform business represented 86% of total revenue, a figure that has steadily increased over time.\nRoku's 56.4 million active accounts streamed 18 billion hours of content in the latest three-month period. But what really stood out was the average revenue per user of $40.10. The monster success of The Roku Channel, now a top-five channel on the platform, has further helped ad revenue. This allows even greater investment in content (including 50 new original series planned over the next two years), bringing in new viewers.\nThe management team, led by CEO Anthony Wood, thinks that streaming is the future of video entertainment. The ongoing decline of cable-TV subscribers makes this trend undeniable. Roku will continue riding this wave as it tackles overseas markets, particularly in Europe and Latin America.\nTaking advantage of what the market is giving you today by adding shares in these proven winners, now at steep discounts, could be a game-changer for your portfolio.","news_type":1,"symbols_score_info":{"ROKU":0.9,"ETSY":0.9,"JYNT":0.9}},"isVote":1,"tweetType":1,"viewCount":2343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691369292,"gmtCreate":1640137703124,"gmtModify":1640137703219,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"AAL up!&nbsp;","listText":"AAL up!&nbsp;","text":"AAL up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691369292","repostId":"1169166013","repostType":4,"isVote":1,"tweetType":1,"viewCount":2899,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601094620,"gmtCreate":1638458243308,"gmtModify":1638458243418,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/OPT/UPST 20211203 187.5 PUT\">$UPST 20211203 187.5 PUT$ &nbsp;</a>Walao!","listText":"<a href=\"https://laohu8.com/OPT/UPST 20211203 187.5 PUT\">$UPST 20211203 187.5 PUT$ &nbsp;</a>Walao!","text":"$UPST 20211203 187.5 PUT$ Walao!","images":[{"img":"https://static.tigerbbs.com/5ad0f1baae1812db097ad0a4257a75af","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/601094620","isVote":1,"tweetType":1,"viewCount":4236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":603086737,"gmtCreate":1638339480376,"gmtModify":1638339480444,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Novax no promising sale yet...wait and see better&nbsp;","listText":"Novax no promising sale yet...wait and see better&nbsp;","text":"Novax no promising sale yet...wait and see better","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603086737","repostId":"1143190844","repostType":4,"repost":{"id":"1143190844","kind":"news","pubTimestamp":1638338816,"share":"https://www.laohu8.com/m/news/1143190844?lang=zh_CN&edition=full","pubTime":"2021-12-01 14:06","market":"us","language":"en","title":"Novavax Vs. Pfizer Stock: Which Is The Better Buy?<blockquote>Novavax 与辉瑞股票：哪个更好买？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1143190844","media":"seekingalpha","summary":"Summary\n\nPfizer expects Comirnaty to account for $36B in revenue in FY21 and $29B in sales in FY22.\n","content":"<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>Pfizer expects Comirnaty to account for $36B in revenue in FY21 and&nbsp;$29B in sales in FY22.</li>  <li>Pfizer recently filed for the Emergency Use Authorization for its COVID-19 antiviral candidate, PAXLOVID, which is expected to bring in $24B in sales in FY22.</li>  <li>Novavax obtained its regulatory approvals for NVX-CoV2373 in both Indonesia and the Philippines. The company can finally start fulfilling its $7B worth of purchase obligations.</li>  <li>We discuss which stock is the better buy for investors now.</li> </ul> <b>Investment Thesis</b></p><p><blockquote><ul><li>辉瑞预计 Comirnaty 在 21 财年的收入将达到 36B 美元，在 22 财年的销售额将达到 29B 美元。</li><li>辉瑞最近为其新冠肺炎抗病毒候选药物PAXLOVID申请了紧急使用授权，预计2022财年将带来24B美元的销售额。</li><li>Novavax 在印度尼西亚和菲律宾获得了 NVX-CoV2373 的监管部门批准。该公司终于可以开始履行其价值70亿美元的购买义务了。</li><li>我们现在讨论哪只股票更适合投资者购买。</li></ul><b>投资论文</b></blockquote></p><p> Pfizer (PFE) expects to sell2.3B of its vaccines in FY2021, representing up to 44.5% of total projected sales of $82B. In addition, the company guided Cominarty sales to account&nbsp;for $36B of revenue in FY2021 and $29B in FY2022. Pfizer also recently submitted itsCOVID-19 Antiviral Candidate, PAXLOVID, for Emergency Use Authorization (EUA) in the US. PAXLOVID achieved89% efficacy in its clinical trials&nbsp;in reducing the risk of COVID-19-related hospitalization or death. As a result,SVB Leerinkestimates PAXLOVID to bring in $24B of sales for Pfizer in FY2022.</p><p><blockquote>辉瑞 (PFE) 预计 2021 财年将销售 23 亿支疫苗，占预计总销售额 82 亿美元的 44.5%。此外，该公司预计 Cominarty 销售额将在 2021 财年占 $36B，在 2022 财年占 $29B。辉瑞最近还在美国提交了其 COVID-19 抗病毒候选药物 PAXLOVID 的紧急使用授权 (EUA)。PAXLOVID在降低新冠肺炎相关住院或死亡风险的临床试验中取得了89%的疗效。因此， SVB Leerink 预计 PAXLOVID 将在 2022 财年为辉瑞带来 24B 美元的销售额。</blockquote></p><p> Novavax (NVAX) has$7B worth of Advance Purchase Agreements&nbsp;of NVX-CoV2373 to fulfill by FY2022. Novavax has also finally obtained its&nbsp;regulatory approvals&nbsp;in Indonesia and the Philippines while awaiting approvals in many other countries. Though Novavax has yet to submit for US FDA approval, we believe its vaccine could have more potential within the lower-income countries.</p><p><blockquote>Novavax (NVAX) 拥有价值 70 亿美元的 NVX-CoV2373 预购协议，将于 2022 财年履行。Novavax 最终还获得了印度尼西亚和菲律宾的监管批准，同时等待许多其他国家的批准。尽管Novavax尚未提交美国FDA批准，但我们相信其疫苗在低收入国家可能有更大的潜力。</blockquote></p><p> We discuss which stock is the better buy now.</p><p><blockquote>我们讨论现在买哪只股票更好。</blockquote></p><p> Omicron - The Variant Of Concern</p><p><blockquote>奥密克戎——令人担忧的变体</blockquote></p><p> On 14 November 2021, a new variant of the&nbsp;COVID-19 virus, B.1.1.529,Omicron, was detected in Gauteng, South Africa. Scientists hypothesized that the Omicron could be an&nbsp;escape variant due to the doubling of mutations&nbsp;compared to the Delta variant. As the most predominant strain globally,CDC reported that the Delta variant&nbsp;caused more infections and spread faster than its early forms. Some scientists have indicated that the&nbsp;high number of mutations&nbsp;may be linked to its resistance to antibodies and possibly be more contagious. Prof Ravi Gupta, from the University of Cambridge, said:</p><p><blockquote>2021年11月14日，在南非豪登省检测到新冠肺炎病毒的新变种B.1.1.529，Omicron。科学家们假设，奥密克戎可能是一种逃逸变种，因为与德尔塔变异毒株相比，突变增加了一倍。作为全球最主要的毒株， CDC报告称， 德尔塔变异毒株引起的感染比其早期形式更多， 传播速度更快。有科学家表示，大量的突变可能与其对抗体的耐药性有关，可能更具传染性。剑桥大学的拉维·古普塔教授说：</blockquote></p><p>   Beta was all immune escape and nothing else, Delta had infectivity and modest immune escape, this potentially has both to high degrees.\" (BBC)  Furthermore, the new highly mutated virus is&nbsp;considerably different&nbsp;from those originally used to design the existing COVID-19 vaccines. As a result, there is a legitimate concern that Omicron may\"elude the targeted immune response\"by the current vaccines and be highly virulent. Professor Lawrence Young, a virologist at Britain's Warwick University, said,</p><p><blockquote>Beta 完全是免疫逃逸，仅此而已，Delta 具有传染性和适度的免疫逃逸，这可能在很大程度上同时具有这两者。”（BBC）此外，这种新的高度变异病毒与最初用于设计现有新冠肺炎疫苗的病毒有很大不同。因此，人们有理由担心奥密克戎可能会“逃避当前疫苗的靶向免疫反应”，并具有高度毒性。英国华威大学病毒学家劳伦斯·杨教授说，</blockquote></p><p>   This new variant of the COVID-19 virus is very worrying. It is the most heavily mutated version of the virus we have seen to date. Some of the mutations that are similar to changes we've seen in other variants of concern are associated with enhanced transmissibility and with partial resistance to immunity induced by vaccination or natural infection.\" (CNA)  As a result of the discovery, countries have placed&nbsp;travel restrictions on those arriving from Africa. It includes the US, EU, the UK, Canada, Australia, Japan, Singapore, and many others. In addition, the stock market has also been affected, especially those in the travel and hospitality industry. Many expect that the Omicron may cause another surge in lockdowns and further delay the global recovery from the pandemic. It is worrying indeed since international travel lanes have just reopened in early November 2021.</p><p><blockquote>新冠肺炎病毒的这种新变种非常令人担忧。这是我们迄今为止看到的最严重变异的病毒版本。一些突变与我们在其他令人担忧的变体中看到的变化相似，与传播性增强以及对疫苗接种或自然感染诱导的免疫力的部分抵抗有关。”（CNA）由于这一发现，各国对来自非洲的人实施了旅行限制。它包括美国、欧盟、英国、加拿大、澳大利亚、日本、新加坡和许多其他国家。此外，股市也受到影响，尤其是旅游和酒店业的股市。许多人预计，奥密克戎可能会导致封锁再次激增，并进一步推迟全球从疫情中的复苏。这确实令人担忧，因为国际旅行通道刚刚在2021年11月初重新开放。</blockquote></p><p> Nonetheless,Pfizer and BioNTechhave long prepared for the emergence of the supposed \"escape variant.\" \"Pfizer and BioNTech (BNTX) took actions months ago to be able to adapt the mRNA vaccine within six weeks and ship initial batches within 100 days,\" the company said. In addition, Moderna (MRNA), Johnson &amp; Johnson (JNJ), and AstraZeneca (AZN) have started their&nbsp;investigation on the efficacy of their vaccines&nbsp;against the new variant of concern. They expect to announce lab-based experimental results in two weeks.</p><p><blockquote>尽管如此，辉瑞和 BioNTech 长期以来一直在为所谓的“逃逸变体”的出现做好准备。该公司表示：“辉瑞和 BioNTech (BNTX) 几个月前就采取行动，以便能够在六周内调整 mRNA 疫苗，并在 100 天内运送首批疫苗。”此外，Moderna (MRNA)、强生 (JNJ) 和阿斯利康 (AZN) 已开始调查其疫苗对令人担忧的新变种的功效。他们预计将在两周内公布基于实验室的实验结果。</blockquote></p><p> <b>Pfizer is The Market Leader in COVID-19 Vaccines</b></p><p><blockquote><b>辉瑞是 COVID-19 疫苗的市场领导者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c98f222e0c383e30a5c184acf70d6240\" tg-width=\"856\" tg-height=\"528\" width=\"100%\" height=\"auto\"><span>Pfizer Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> Pfizer enjoyed immense growth in its revenue since the&nbsp;first distribution of its COVID-19 vaccine&nbsp;in December 2020. In barely a year, Pfizer bulldozed its way into delivering2.11B doses of its COVID-19 vaccine. In doing so, the company has inoculated 13.3% of the world's population with two doses of Comirnaty.</p><p><blockquote>自2020年12月首次分发新冠肺炎疫苗以来，辉瑞的收入大幅增长。在不到一年的时间里，辉瑞公司就成功交付了 2.11b 剂 COVID-19 疫苗。通过这样做，该公司已经为世界上13.3%的人口接种了两剂Comirnaty。</blockquote></p><p></p><p> In FQ3'21, Pfizer recorded $24.1B in revenue, representing a 233.9% YoY growth compared to pre-COVID-19 levels. In the same quarter, Pfizer also reported&nbsp;growth in other segments. In FQ3'21, the Oncology and Hospital segments reported 31.4% and 24% growth from FQ3'19 sales, respectively. Furthermore, Eliquis (oral anticoagulant from Internal Medicine) and IBRANCE (breast cancer treatment from Oncology) generated $1.34B and $1.38 in sales. It represented a 31.3% and 7.6% increase from FQ3'19, respectively. The&nbsp;growth for Eliquiswas due to a 16% increase in prescription volume, while IBRANCE was driven by deferred diagnosis and treatment caused by the pandemic.</p><p><blockquote>在 21 年第三季度，辉瑞的收入为 24.1 亿美元，与 COVID-19 之前的水平相比，同比增长 233.9%。同一季度，辉瑞还报告了其他细分市场的增长。在 2021 年第三季度，肿瘤科和医院部门的销售额分别比 2019 年第三季度增长了 31.4% 和 24%。此外，Eliquis（内科口服抗凝剂）和IBRANCE（肿瘤学乳腺癌治疗）的销售额分别为13.4亿美元和1.38美元。较 2019 年第三季度分别增长 31.3% 和 7.6%。Eliquiswas的增长是由于处方量增加了16%，而IBRANCE是由疫情导致的延迟诊断和治疗推动的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d00b01fc6db5a73811ce8f8d7e9de4f\" tg-width=\"847\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Pfizer Revenue By Segment. Source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞按部门划分的收入。资料来源：公司文件</span></p></blockquote></p><p> Pfizer also expects additional revenue from its COVID-19 vaccine due to the&nbsp;US FDA approval of its pediatric application&nbsp;in ages five to eleven. As of 22 November 2021, the&nbsp;Canadian,Malaysian, and&nbsp;Singapore governments&nbsp;have already approved or procured Comirnaty for the pediatric age group. Many other countries globally are also&nbsp;considering Comirnatyfor its young children. As the market leader in the COVID-19 vaccines, Pfizer will also report its&nbsp;clinical results for those aged two&nbsp;to five by Q4'21 and six months to two years old by Q1'22. Furthermore, booster shots have been approved by the USCDCandEU public health agency&nbsp;for all adults. It paves the way for a robust recurring revenue market for Pfizer.</p><p><blockquote>由于美国 FDA 批准了其 5 至 11 岁儿童的 COVID-19 疫苗应用，辉瑞还预计其 COVID-19 疫苗将带来额外收入。截至2021年11月22日，加拿大、马来西亚和新加坡政府已经批准或采购了儿科年龄组的Comirnaty。全球许多其他国家也在考虑为其幼儿提供Comirnaty。作为 COVID-19 疫苗的市场领导者，辉瑞还将在 2021 年第四季度报告 2 至 5 岁人群的临床结果，并在 2022 年第一季度报告 6 个月至 2 岁人群的临床结果。此外，USCDCandEU公共卫生机构已经批准对所有成年人进行加强注射。这为辉瑞强劲的经常性收入市场铺平了道路。</blockquote></p><p> Pfizer aims to distribute2.3B doses of its vaccines by the end of 2021, accounting for$36B of revenue. Furthermore, in FQ3'21, Pfizerraised its guidance for FY2021's total revenue&nbsp;to $81B to $82B. The difference is mainly attributed to robust sales in Comirnaty. The raised guidance also reflects the international community's confidence in Pfizer's vaccine.</p><p><blockquote>辉瑞的目标是到 2021 年底分发 2.3B 剂疫苗，收入为 36B 美元。此外，在 2021 年第三季度，辉瑞将 2021 财年总收入指引上调至 810 亿美元至 820 亿美元。这一差异主要归因于 Comirnaty 的强劲销售。上调的指导意见也反映了国际社会对辉瑞疫苗的信心。</blockquote></p><p> But, consensus estimates expect Pfizer to post $81.3B in total revenue in FY2022, of which&nbsp;vaccine sales will account for $29B. The estimates suggest normalization in Comirnaty sales through FY2023, as COVID-19 becomes endemic.</p><p><blockquote>但是，普遍估计辉瑞在2022财年的总收入将达到813亿美元，其中疫苗销售将占29B美元。估计表明，随着 COVID-19 成为地方病，到 2023 财年，Comirnaty 销售将恢复正常。</blockquote></p><p> However, we expect additional upside to Pfizer's revenue attributed to its antiviral COVID-19 candidate and the possibility of Pfizer's adapted vaccine against the Omicron variant.</p><p><blockquote>然而，我们预计辉瑞的收入将进一步增长，这归功于其抗病毒 COVID-19 候选药物以及辉瑞针对奥密克戎变种的改良疫苗的可能性。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a45c8c8167dd4302253c667fb7074bc9\" tg-width=\"847\" tg-height=\"515\" width=\"100%\" height=\"auto\"><span>Pfizer Projected Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞预计收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> On 16 November 2021, Pfizer filed for&nbsp;EUA for PAXLOVID, its COVID-19 antiviral treatment. The treatment achieved 89% efficacy in clinical trials, which is better than Merck'sMolnupiravir at 30%. PAXLOVID's treatment is suitable for patients with mild to moderate symptoms, with a high risk of hospitalization or death. The US government also signed an&nbsp;Advanced Purchase Agreement(APA) for 10M doses, worth $529 per treatment course. The treatment may be delivered to the patients as early as Q4'21, upon FDA approval.SVB Leerinkestimated that PAXLOVID might account for an additional $24B in Pfizer's FY2022 revenue. Therefore, it could add further upside to Pfizer's vaccines revenue.</p><p><blockquote>2021 年 11 月 16 日，辉瑞为其 COVID-19 抗病毒治疗药物 PAXLOVID 申请了 EUA。该疗法在临床试验中取得了89%的有效率，优于默沙东公司的sMolnupiravir的30%。PAXLOVID的治疗适用于轻度至中度症状、住院或死亡风险较高的患者。美国政府还签署了1000万剂疫苗的预购协议（APA），每个疗程价值529美元。经 FDA 批准，该治疗最早可能在 2021 年第四季度提供给患者。 SVB Leerink 估计，PAXLOVID 可能会为辉瑞 2022 财年的收入增加 24B 美元。因此，它可能会进一步增加辉瑞疫苗收入的上升空间。</blockquote></p><p> Furthermore,Pfizer has licensed PAXLOVIDto Medicines Patent Pool(MPP), a United Nations-backed public health organization. It allows other generic drug manufacturers to produce the COVID-19 antiviral pill at lower prices. The reduced price will increase the pills' outreach to53% of the global population&nbsp;from 95 low- and middle-income countries.</p><p><blockquote>此外，辉瑞已将 Paxlovid 授权给联合国支持的公共卫生组织 Medicines Patent Pool (MPP)。它允许其他仿制药制造商以较低的价格生产新冠肺炎抗病毒药丸。降低的价格将使这些药丸的覆盖范围扩大到来自95个中低收入国家的53%的全球人口。</blockquote></p><p> Thus far, Pfizer has&nbsp;demonstrated exemplary execution.The company has managed to clear its clinical trials and the US FDA regulatory processes/ approvals speedily. In addition, no other COVID-19 vaccine makers have come close to the Pfizer/BioNTech partnership regarding its COVID-19 vaccines revenue. Its success is attributed to decades-old expertise and existing infrastructure in the Pharmaceuticals industry, paired with BioNTech's brilliant mRNA technology.</p><p><blockquote>到目前为止，辉瑞已经展示了模范执行力。该公司已设法快速通过其临床试验和美国FDA监管流程/批准。此外，没有其他新冠肺炎疫苗制造商在新冠肺炎疫苗收入方面接近辉瑞/BioNTech合作伙伴关系。其成功归功于制药行业数十年的专业知识和现有基础设施，以及 BioNTech 出色的 mRNA 技术。</blockquote></p><p> Moreover, Pfizer has a solid portfolio of therapeutics, including Eliquis, IBRANCE, and the Prevnar family (Pneumococcal vaccine). These 3 drugs have accounted for $16.3B in revenue in the last twelve months (LTM).</p><p><blockquote>此外，辉瑞拥有可靠的治疗产品组合，包括 Eliquis、IBRANCE 和 Prevnar 系列（肺炎球菌疫苗）。这 3 种药物在过去 12 个月 (LTM) 的收入为 16.3B 美元。</blockquote></p><p> <b>Pfizer's Aggressive Product Pipeline</b></p><p><blockquote><b>辉瑞积极的产品管线</b></blockquote></p><p> Pfizer continues to expand with94 programs in development. Of these, nine are in the registration stage, with 38 programs in phase 2/3 clinical trials. Furthermore, there are six mRNA programs in collaboration with BioNTech for COVID-19 vaccines and one directly under Pfizer for its mRNA Influenza vaccine (phase 1).</p><p><blockquote>辉瑞继续扩张，有94个项目正在开发中。其中，9个项目处于注册阶段，38个项目处于2/3期临床试验。此外，还有六个与BioNTech合作的mRNA项目用于新冠肺炎疫苗，一个直接由辉瑞领导的mRNA流感疫苗（第一阶段）。</blockquote></p><p></p><p> Pfizer has also&nbsp;acquired and collaborated with many companies&nbsp;in multiple specializations, such as oncology, gene therapy, and cardiovascular treatment, as part of its long-term expansion plan. These investments have resulted in three approvals and four Emergency Use Authorizations, with many more in research and development. Over the next 18 months, Pfizer also expectsten program approvals. In addition, since 2019, Pfizer has:</p><p><blockquote>作为其长期扩张计划的一部分，辉瑞还收购了肿瘤学、基因治疗和心血管治疗等多个专业领域的许多公司并与之合作。这些投资已获得三项批准和四项紧急使用授权，还有更多用于研发。在接下来的 18 个月内，辉瑞还预计 STEN 项目将获得批准。此外，自2019年以来，辉瑞已经：</blockquote></p><p> <ul>  <li>Acquired Array BioPharma, a pre-revenue pharmaceutical company specializing in Oncology</li>  <li>Acquired Therachon, a pre-revenue biotechnology company with interests in Achondroplasia and Short Bowel Syndrome</li>  <li>Acquired Trillium Therapeutics Inc. (TRIL), a pre-revenue immuno-oncology company specializing in Oncology</li>  <li>Collaborated with Vivet Therapeutics for research on Wilson disease gene therapy</li>  <li>Collaborated with Akcea Therapeutics, Inc. (AKCA) for the treatment of cardiovascular and metabolic diseases</li>  <li>Collaborated with Valneva SE (OTCPK:INRLF) for the development of Lyme disease vaccine candidate, VLA15</li>  <li>Collaborated with Myovant Sciences Ltd. (MYOV) for the treatment of advanced prostate cancer</li>  <li>Collaborated with Arvinas, Inc. (ARVN) to treat breast cancer and improve the efficacy of IBRANCE (Pfizer's approved breast cancer treatment) for metastatic settings</li> </ul> Pfizer'spipelineincludesmultiple research and developmentsuch as:</p><p><blockquote><ul><li>收购 Array BioPharma，一家专注于肿瘤学的营收前制药公司</li><li>收购 Therachon，一家收入前生物技术公司，对软骨发育不全和短肠综合征感兴趣</li><li>收购 Trillium Therapeutics Inc. (TRIL)，这是一家专门从事肿瘤学的营收前免疫肿瘤学公司</li><li>与Vivet Therapeutics合作开展威尔逊氏病基因治疗研究</li><li>与 Akcea Therapeutics, Inc. (AKCA) 合作治疗心血管和代谢疾病</li><li>与Valneva SE（OTCPK：INRLF）合作开发莱姆病候选疫苗VLA15</li><li>与Myovant Sciences Ltd. (MYOV)合作治疗晚期前列腺癌</li><li>与 Arvinas, Inc. (ARVN) 合作治疗乳腺癌并提高 IBRANCE（辉瑞批准的乳腺癌治疗方法）对转移性疾病的疗效</li></ul>辉瑞的产品线包括多项研发，例如：</blockquote></p><p> <ul>  <li>Vaccines, including Prevnar 20 (Pneumococcal) and Respiratory Syncytial Virus (RSV)</li>  <li>Oncology, including the breast, prostate, and blood cancer</li>  <li>Rare Diseases, including gene therapies for hemophilia A/B and Duchenne's Muscular Dystrophy</li>  <li>Internal Medicine, including diabetes</li>  <li>Immunology and Inflammation, including rheumatoid arthritis, inflammatory bowel disease, and vitiligo</li> </ul> Based on its existing portfolio and pipeline, Pfizer guided future revenue growth at a CAGR of 6% through FY2025. The guidance does not include its COVID-19 vaccine, Comirnaty, or potential earnings from future mRNA programs. Nevertheless, it shows that Pfizer is confident in its future growth despite the normalization from the Cominarty sales. With an arsenal of profitable therapeutics and promising research and development, Pfizer looks fantastic as an anchor investment for a pharmaceutical investor.</p><p><blockquote><ul><li>疫苗，包括Prevnar 20（肺炎球菌）和呼吸道合胞病毒（RSV）</li><li>肿瘤学，包括乳腺癌、前列腺癌和血癌</li><li>罕见疾病，包括血友病A/B和杜氏肌营养不良症的基因疗法</li><li>内科，包括糖尿病</li><li>免疫学和炎症，包括类风湿性关节炎、炎性肠病和白癜风</li></ul>基于其现有的产品组合和产品线，辉瑞预计到 2025 财年，未来收入增长的复合年增长率为 6%。该指引不包括其 COVID-19 疫苗、Comirnaty 或未来 mRNA 项目的潜在收入。尽管如此，这表明辉瑞对其未来的增长充满信心，尽管Cominarty销售正常化。辉瑞拥有一系列有利可图的疗法和有前途的研发，作为制药投资者的锚投资，辉瑞看起来非常棒。</blockquote></p><p> <b>Novavax's Nascent Foray into The BioTech Sector</b></p><p><blockquote><b>Novavax 新兴进军生物技术领域</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ee7b67ab7c5e746455428648918245c\" tg-width=\"917\" tg-height=\"506\" width=\"100%\" height=\"auto\"><span>Emergency Use Authorisation Application. Source:Novavax</span></p><p><blockquote><p class=\"t-img-caption\"><span>紧急使用授权申请。资料来源：Novavax</span></p></blockquote></p><p> Novavax has already obtained its EUA approvals for its COVID-19 vaccine, NVX-CoV2373, in&nbsp;Indonesian 1 November 2021 and the&nbsp;Philippineson 17 November 2021. Furthermore, many other approvals are pending in the UK, Australia, Canada, Europe, WHO, India, New Zealand,&nbsp;South Korea, and&nbsp;Singapore. To prepare for the regulatory approval and potential rollout of its vaccines, Novavax has increased its manufacturing capacity in multiple territories, up to 150M vaccine doses a month. As a result, the company projected over2B doses to be distributed in FY2022. The established global supply chain for the production of Novavax's COVID-19 vaccine includes:</p><p><blockquote>Novavax 已于 2021 年 11 月 1 日在印度尼西亚获得 EUA 批准，并于 2021 年 11 月 17 日在菲律宾获得 EUA 批准。此外，英国、澳大利亚、加拿大、欧洲、世卫组织、印度、新西兰、韩国和新加坡还有许多其他批准正在等待中。为了准备监管部门的批准和疫苗的潜在推出，Novavax 提高了其在多个地区的生产能力，每月最多可生产 1.5 亿剂疫苗。因此，该公司预计2022财年将分发超过2B剂量。Novavax 生产 COVID-19 疫苗的既定全球供应链包括：</blockquote></p><p> <ul>  <li>Serum Institute of India</li>  <li>Novavax's site in the Czech Republic and Sweden</li>  <li>SK Bioscience Co in South Korea</li>  <li>Takeda Pharmaceutical Company in Japan</li>  <li>Biofibre in Spain</li>  <li>Fujifilm in the US and UK</li>  <li>Mabion in Poland</li>  <li>the National Research Council in Poland and Canada</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6c9f5618ee41b46f9f2325c8a28c011\" tg-width=\"871\" tg-height=\"477\" width=\"100%\" height=\"auto\"><span>Novavax Global Supply Chain. Source:Novavax</span></p><p><blockquote><ul><li>印度血清研究所</li><li>Novavax 位于捷克共和国和瑞典的工厂</li><li>韩国SK生物科学公司</li><li>日本武田制药公司</li><li>西班牙的生物纤维</li><li>富士胶片在美国和英国</li><li>波兰的马比翁</li><li>波兰和加拿大国家研究委员会</li></ul><p class=\"t-img-caption\"><span>Novavax全球供应链。资料来源：Novavax</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34de59290b1dc616668e3a0fb2936290\" tg-width=\"858\" tg-height=\"531\" width=\"100%\" height=\"auto\"><span>Novavax Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Novavax 收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> In FQ3'21, Novavax reported$179M revenue. The number includes $98M from government contracts, $41M from CEPI grant revenue, and $40M from royalty revenue. The royalty revenue came from SK Biosciences' sales of NVX-CoV2373 antigen components to the government. Novavax is expected to report revenue of $1.4B for FY2021. The sales will include part of the$7B worth of Advance Purchase Agreements&nbsp;of NVX-CoV2373 to be shipped globally.</p><p><blockquote>2021 年第三季度，Novavax 报告收入为 1.79 亿美元。这个数字包括来自政府合同的9800万美元、来自CEPI赠款收入的4100万美元和来自特许权使用费收入的4000万美元。特许权使用费收入来自SK Biosciences向政府销售NVX-CoV2373抗原成分。Novavax 预计 2021 财年收入为 $1.4B。此次销售将包括价值 7B 美元的 NVX-CoV2373 预购协议的一部分，该协议将在全球范围内发货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f0b307cda2b15d1695dd4762af1c3a0\" tg-width=\"857\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Novavax Projected Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Novavax 预计收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p></p><p> Currently, Novavax has several COVID-19 clinical trials in progress globally. The US and Australian trial participants have received their&nbsp;booster shots at 6 and 12 months&nbsp;after the two-dose regimen. The company previously reported that the6 monthly boosters shot&nbsp;sufficiently increased the functional levels of wild-type neutralization and the IgG antibody. With such promising results, Novavax aims to complete its booster clinical trial for regulatory submissions as well.</p><p><blockquote>目前，Novavax 在全球范围内正在进行多项 COVID-19 临床试验。美国和澳大利亚的试验参与者在两剂方案后6个月和12个月接受了加强注射。该公司此前报告称，6个月加强注射足以提高野生型中和和IgG抗体的功能水平。有了如此有希望的结果，Novavax的目标是完成其加强临床试验，以便提交监管机构。</blockquote></p><p> By the end of 2021, Novavax aims to&nbsp;complete its regulatory submission globally, especially to the US FDA and EMA. In addition, the company will also proceed with the dosage selection for its combinedNanoFlu/NVX-CoV2373clinical trial (to be further discussed later).</p><p><blockquote>到2021年底，Novavax的目标是在全球范围内完成监管提交，特别是向美国FDA和EMA提交。此外，公司还将继续进行其combinedNanoFlu/NVX-CoV2373临床试验的剂量选择（稍后将进一步讨论）。</blockquote></p><p> Novavax's Robust Pipeline In Influenza</p><p><blockquote>Novavax 在流感领域的强大管道</blockquote></p><p> Beyond its COVID-19 vaccine, Novavax has&nbsp;eight other programs in development. There are three in Phase 2/3 clinical stage, which are ResVax, RSV F, and NanoFlu. Both ResVax and RSV F targets Respiratory Syncytial Virus (RSV) in different age groups. However, both&nbsp;have not passed&nbsp;the necessary clinical test. Therefore, they also do not have the required efficacy for EMA &amp; FDA approval.</p><p><blockquote>除了 COVID-19 疫苗外，Novavax 还有其他八个项目正在开发中。有三个处于2/3期临床阶段，分别是ResVax、RSV F和NanoFlu。ResVax和RSV F都针对不同年龄组的呼吸道合胞病毒（RSV）。然而，两者都没有通过必要的临床试验。因此，它们也不具备EMA和FDA批准所需的功效。</blockquote></p><p> On the other hand, NanoFlu has recorded top-line results for both&nbsp;clinical trialsagainstSanofi's approved flu vaccine Fluzone Quadrivalent. Sanofi is currently the largest manufacturer of influenza vaccines in the world. Notably, Sanofi supplied250 million doses of Influenza vaccines&nbsp;globally in 2020, worth$2.9B in sales. Therefore, Novavax may capitalize on a massive global Influenza market. As of early 2020, the US FDA has already granted NanoFlu a&nbsp;Fast Track Designation. In September 2021, Novavax also published the&nbsp;NanoFlu Influenza Vaccine Phase 3 Clinical Trial&nbsp;results. However, it remains to be seen when Novavax will file for US FDA approval and if it will be granted.</p><p><blockquote>另一方面，NanoFlu 针对赛诺菲批准的流感疫苗 Fluzone Quadrivalent 的两项临床试验均取得了顶级结果。赛诺菲是目前全球最大的流感疫苗生产商。值得注意的是，赛诺菲2020年在全球供应了2.5亿剂流感疫苗，销售额达29亿美元。因此，Novavax 可能会利用庞大的全球流感市场。截至2020年初，美国FDA已经授予NanoFlu快速通道称号。2021年9月，Novavax还公布了NanoFlu流感疫苗3期临床试验结果。然而，Novavax何时将申请美国FDA批准以及是否会获得批准仍有待观察。</blockquote></p><p> Furthermore, in May 2021, Novavax announced the results of its combined vaccineNanoFlu/NVX-CoV2373in a pre-clinical test. The combined vaccine is a potential breakthrough as an annual COVID-19 booster shot and Influenza vaccine. Phase III clinical (animal) trials have&nbsp;detected little virus or none&nbsp;in the upper and lower respiratory tracts. In September 2021, Novavax initiated the&nbsp;combined vaccine trial Phase I/II in Australia&nbsp;for 640 healthy adults aged 50 to 70 years. These participants had either been fully vaccinated or previously infected with the SARS-CoV-2 virus.</p><p><blockquote>此外，2021年5月，Novavax公布了其联合疫苗NanoFlu/NVX-CoV2373在临床前试验中的结果。联合疫苗作为年度新冠肺炎加强注射和流感疫苗是一个潜在的突破。III期临床（动物）试验在上呼吸道和下呼吸道中很少或没有检测到病毒。2021年9月，Novavax在澳大利亚启动了针对640名50至70岁健康成年人的I/II期联合疫苗试验。这些参与者要么完全接种了疫苗，要么以前感染过新型冠状病毒病毒。</blockquote></p><p> In November 2021, Novavax published the&nbsp;full results of a combined vaccine trial&nbsp;involving NVX-CoV2373 and an approved influenza vaccine from Seqirus UK Limited. It proves that there are no safety issues while relatively preserving the immune responses from both vaccines. As a result, the combined vaccineNanoFlu/NVX-CoV2373may have a massive impact as the alternative to mRNA COVID-19 vaccines, combined with a highly effective Influenza shot.</p><p><blockquote>2021年11月，Novavax公布了涉及NVX-CoV2373和Seqirus UK Limited批准的流感疫苗的联合疫苗试验的完整结果。它证明了在相对保留两种疫苗的免疫反应的同时不存在安全问题。因此，纳米流感/NVX-CoV2373联合疫苗作为mRNA新冠肺炎疫苗的替代品，结合高效流感疫苗，可能会产生巨大影响。</blockquote></p><p> Compared to Pfizer's pipeline, Novavax's pipeline appear to have more concentrated applications and less diversified. However, we cannot discount that Novavax has only started to get its momentum going while Pfizer is already leading the herd. They are at entirely different scales and timeline altogether. We believe that NanoFlu has shown great potential in its clinical trials. Upon regulatory approval, NanoFlu could generate substantial revenue from the global Influenza vaccines market, which is expected to exceed$9.5B by 2027.</p><p><blockquote>与辉瑞的管道相比，Novavax的管道似乎应用更加集中，多样化程度较低。然而，我们不能忽视 Novavax 才刚刚开始发展势头，而辉瑞已经处于领先地位。它们处于完全不同的规模和时间线。我们相信NanoFlu在其临床试验中显示出巨大潜力。一旦获得监管部门批准，NanoFlu 可以从全球流感疫苗市场产生可观的收入，预计到 2027 年将超过 $9.5B。</blockquote></p><p> <b>So, Which Stock is The Better Buy?</b></p><p><blockquote><b>那么，哪只股票更值得购买呢？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/132d624d7587dac52e1a3f2a2458ac72\" tg-width=\"854\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Pfizer And Novavax EV/ Fwd Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞和 Novavax EV/Fwd 收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> Pfizer stock is currently trading at an EV/FY2022 revenue of 3.56x. It's significantly lower than its peers' comps set mean of 6.57x. Meanwhile, Novavax stock is trading at an EV/FY2022 revenue of 3.1x, considering the $7B purchase obligations. Furthermore, both are lower than Moderna stock at an EV/FY2022 revenue of 5.83x. As compared to Moderna and Pfizer stock, Novavax stock certainly looks like a huge bargain now.</p><p><blockquote>辉瑞股票目前的交易价格为 EV/2022 财年收入的 3.56 倍。它明显低于同行的 comps 集平均值 6.57 倍。与此同时，考虑到 70 亿美元的购买义务，Novavax 股票的 EV/2022 财年收入为 3.1 倍。此外，两者的 EV/2022 财年收入均低于 Moderna 股票的 5.83 倍。与 Moderna 和辉瑞股票相比，Novavax 股票现在看起来确实很便宜。</blockquote></p><p> Novavax has already obtained its EUA approvals in Indonesia and the Philippines, with many more pending globally. Its stock also looks attractive due to its potential mass rollout in lower-income countries. Nevertheless, we acknowledge that Novavax is still a fledgling company compared to Pfizer's decades-old experience. Investors looking for a reliable stock with a strong dividend payout should buy Pfizer stock at its dips. Moreover, Pfizer stock has had a discernible long-term uptrend over the last five years. PFE stock looks like a solid anchor stock for any pharmaceutical investor, given its robust pipeline, immaculate execution, and stable profitability.</p><p><blockquote>Novavax 已经在印度尼西亚和菲律宾获得了 EUA 批准，全球还有更多批准正在等待批准。由于其有可能在低收入国家大规模推广，其股票看起来也很有吸引力。尽管如此，我们承认，与辉瑞数十年的经验相比，Novavax 仍然是一家羽翼未丰的公司。寻找具有强劲股息支付的可靠股票的投资者应该在辉瑞股票下跌时买入。此外，辉瑞股票在过去五年中呈现出明显的长期上升趋势。鉴于 PFE 股票强大的产品线、完美的执行和稳定的盈利能力，对于任何制药投资者来说，它看起来都是一只可靠的锚股票。</blockquote></p><p></p><p> <i>Therefore, we rate both stocks at Buy.</i>However, we consider NVAX stock as more of a speculative play than a core anchor stock. Therefore, for investors who are more conservative, PFE stock might be a better buy. Nonetheless, NVAX stock could offer huge potential upside as a speculative stock in a well-diversified pharma portfolio.</p><p><blockquote><i>因此，我们对这两只股票的评级均为买入。</i>然而，我们认为 NVAX 股票更像是一种投机性股票，而不是核心锚股票。因此，对于更保守的投资者来说，PFE 股票可能是更好的选择。尽管如此，NVAX 股票作为多元化制药投资组合中的投机性股票，可以提供巨大的潜在上涨空间。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Novavax Vs. Pfizer Stock: Which Is The Better Buy?<blockquote>Novavax 与辉瑞股票：哪个更好买？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNovavax Vs. Pfizer Stock: Which Is The Better Buy?<blockquote>Novavax 与辉瑞股票：哪个更好买？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-12-01 14:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Summary</p><p><blockquote>总结</blockquote></p><p> <ul>  <li>Pfizer expects Comirnaty to account for $36B in revenue in FY21 and&nbsp;$29B in sales in FY22.</li>  <li>Pfizer recently filed for the Emergency Use Authorization for its COVID-19 antiviral candidate, PAXLOVID, which is expected to bring in $24B in sales in FY22.</li>  <li>Novavax obtained its regulatory approvals for NVX-CoV2373 in both Indonesia and the Philippines. The company can finally start fulfilling its $7B worth of purchase obligations.</li>  <li>We discuss which stock is the better buy for investors now.</li> </ul> <b>Investment Thesis</b></p><p><blockquote><ul><li>辉瑞预计 Comirnaty 在 21 财年的收入将达到 36B 美元，在 22 财年的销售额将达到 29B 美元。</li><li>辉瑞最近为其新冠肺炎抗病毒候选药物PAXLOVID申请了紧急使用授权，预计2022财年将带来24B美元的销售额。</li><li>Novavax 在印度尼西亚和菲律宾获得了 NVX-CoV2373 的监管部门批准。该公司终于可以开始履行其价值70亿美元的购买义务了。</li><li>我们现在讨论哪只股票更适合投资者购买。</li></ul><b>投资论文</b></blockquote></p><p> Pfizer (PFE) expects to sell2.3B of its vaccines in FY2021, representing up to 44.5% of total projected sales of $82B. In addition, the company guided Cominarty sales to account&nbsp;for $36B of revenue in FY2021 and $29B in FY2022. Pfizer also recently submitted itsCOVID-19 Antiviral Candidate, PAXLOVID, for Emergency Use Authorization (EUA) in the US. PAXLOVID achieved89% efficacy in its clinical trials&nbsp;in reducing the risk of COVID-19-related hospitalization or death. As a result,SVB Leerinkestimates PAXLOVID to bring in $24B of sales for Pfizer in FY2022.</p><p><blockquote>辉瑞 (PFE) 预计 2021 财年将销售 23 亿支疫苗，占预计总销售额 82 亿美元的 44.5%。此外，该公司预计 Cominarty 销售额将在 2021 财年占 $36B，在 2022 财年占 $29B。辉瑞最近还在美国提交了其 COVID-19 抗病毒候选药物 PAXLOVID 的紧急使用授权 (EUA)。PAXLOVID在降低新冠肺炎相关住院或死亡风险的临床试验中取得了89%的疗效。因此， SVB Leerink 预计 PAXLOVID 将在 2022 财年为辉瑞带来 24B 美元的销售额。</blockquote></p><p> Novavax (NVAX) has$7B worth of Advance Purchase Agreements&nbsp;of NVX-CoV2373 to fulfill by FY2022. Novavax has also finally obtained its&nbsp;regulatory approvals&nbsp;in Indonesia and the Philippines while awaiting approvals in many other countries. Though Novavax has yet to submit for US FDA approval, we believe its vaccine could have more potential within the lower-income countries.</p><p><blockquote>Novavax (NVAX) 拥有价值 70 亿美元的 NVX-CoV2373 预购协议，将于 2022 财年履行。Novavax 最终还获得了印度尼西亚和菲律宾的监管批准，同时等待许多其他国家的批准。尽管Novavax尚未提交美国FDA批准，但我们相信其疫苗在低收入国家可能有更大的潜力。</blockquote></p><p> We discuss which stock is the better buy now.</p><p><blockquote>我们讨论现在买哪只股票更好。</blockquote></p><p> Omicron - The Variant Of Concern</p><p><blockquote>奥密克戎——令人担忧的变体</blockquote></p><p> On 14 November 2021, a new variant of the&nbsp;COVID-19 virus, B.1.1.529,Omicron, was detected in Gauteng, South Africa. Scientists hypothesized that the Omicron could be an&nbsp;escape variant due to the doubling of mutations&nbsp;compared to the Delta variant. As the most predominant strain globally,CDC reported that the Delta variant&nbsp;caused more infections and spread faster than its early forms. Some scientists have indicated that the&nbsp;high number of mutations&nbsp;may be linked to its resistance to antibodies and possibly be more contagious. Prof Ravi Gupta, from the University of Cambridge, said:</p><p><blockquote>2021年11月14日，在南非豪登省检测到新冠肺炎病毒的新变种B.1.1.529，Omicron。科学家们假设，奥密克戎可能是一种逃逸变种，因为与德尔塔变异毒株相比，突变增加了一倍。作为全球最主要的毒株， CDC报告称， 德尔塔变异毒株引起的感染比其早期形式更多， 传播速度更快。有科学家表示，大量的突变可能与其对抗体的耐药性有关，可能更具传染性。剑桥大学的拉维·古普塔教授说：</blockquote></p><p>   Beta was all immune escape and nothing else, Delta had infectivity and modest immune escape, this potentially has both to high degrees.\" (BBC)  Furthermore, the new highly mutated virus is&nbsp;considerably different&nbsp;from those originally used to design the existing COVID-19 vaccines. As a result, there is a legitimate concern that Omicron may\"elude the targeted immune response\"by the current vaccines and be highly virulent. Professor Lawrence Young, a virologist at Britain's Warwick University, said,</p><p><blockquote>Beta 完全是免疫逃逸，仅此而已，Delta 具有传染性和适度的免疫逃逸，这可能在很大程度上同时具有这两者。”（BBC）此外，这种新的高度变异病毒与最初用于设计现有新冠肺炎疫苗的病毒有很大不同。因此，人们有理由担心奥密克戎可能会“逃避当前疫苗的靶向免疫反应”，并具有高度毒性。英国华威大学病毒学家劳伦斯·杨教授说，</blockquote></p><p>   This new variant of the COVID-19 virus is very worrying. It is the most heavily mutated version of the virus we have seen to date. Some of the mutations that are similar to changes we've seen in other variants of concern are associated with enhanced transmissibility and with partial resistance to immunity induced by vaccination or natural infection.\" (CNA)  As a result of the discovery, countries have placed&nbsp;travel restrictions on those arriving from Africa. It includes the US, EU, the UK, Canada, Australia, Japan, Singapore, and many others. In addition, the stock market has also been affected, especially those in the travel and hospitality industry. Many expect that the Omicron may cause another surge in lockdowns and further delay the global recovery from the pandemic. It is worrying indeed since international travel lanes have just reopened in early November 2021.</p><p><blockquote>新冠肺炎病毒的这种新变种非常令人担忧。这是我们迄今为止看到的最严重变异的病毒版本。一些突变与我们在其他令人担忧的变体中看到的变化相似，与传播性增强以及对疫苗接种或自然感染诱导的免疫力的部分抵抗有关。”（CNA）由于这一发现，各国对来自非洲的人实施了旅行限制。它包括美国、欧盟、英国、加拿大、澳大利亚、日本、新加坡和许多其他国家。此外，股市也受到影响，尤其是旅游和酒店业的股市。许多人预计，奥密克戎可能会导致封锁再次激增，并进一步推迟全球从疫情中的复苏。这确实令人担忧，因为国际旅行通道刚刚在2021年11月初重新开放。</blockquote></p><p> Nonetheless,Pfizer and BioNTechhave long prepared for the emergence of the supposed \"escape variant.\" \"Pfizer and BioNTech (BNTX) took actions months ago to be able to adapt the mRNA vaccine within six weeks and ship initial batches within 100 days,\" the company said. In addition, Moderna (MRNA), Johnson &amp; Johnson (JNJ), and AstraZeneca (AZN) have started their&nbsp;investigation on the efficacy of their vaccines&nbsp;against the new variant of concern. They expect to announce lab-based experimental results in two weeks.</p><p><blockquote>尽管如此，辉瑞和 BioNTech 长期以来一直在为所谓的“逃逸变体”的出现做好准备。该公司表示：“辉瑞和 BioNTech (BNTX) 几个月前就采取行动，以便能够在六周内调整 mRNA 疫苗，并在 100 天内运送首批疫苗。”此外，Moderna (MRNA)、强生 (JNJ) 和阿斯利康 (AZN) 已开始调查其疫苗对令人担忧的新变种的功效。他们预计将在两周内公布基于实验室的实验结果。</blockquote></p><p> <b>Pfizer is The Market Leader in COVID-19 Vaccines</b></p><p><blockquote><b>辉瑞是 COVID-19 疫苗的市场领导者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c98f222e0c383e30a5c184acf70d6240\" tg-width=\"856\" tg-height=\"528\" width=\"100%\" height=\"auto\"><span>Pfizer Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> Pfizer enjoyed immense growth in its revenue since the&nbsp;first distribution of its COVID-19 vaccine&nbsp;in December 2020. In barely a year, Pfizer bulldozed its way into delivering2.11B doses of its COVID-19 vaccine. In doing so, the company has inoculated 13.3% of the world's population with two doses of Comirnaty.</p><p><blockquote>自2020年12月首次分发新冠肺炎疫苗以来，辉瑞的收入大幅增长。在不到一年的时间里，辉瑞公司就成功交付了 2.11b 剂 COVID-19 疫苗。通过这样做，该公司已经为世界上13.3%的人口接种了两剂Comirnaty。</blockquote></p><p></p><p> In FQ3'21, Pfizer recorded $24.1B in revenue, representing a 233.9% YoY growth compared to pre-COVID-19 levels. In the same quarter, Pfizer also reported&nbsp;growth in other segments. In FQ3'21, the Oncology and Hospital segments reported 31.4% and 24% growth from FQ3'19 sales, respectively. Furthermore, Eliquis (oral anticoagulant from Internal Medicine) and IBRANCE (breast cancer treatment from Oncology) generated $1.34B and $1.38 in sales. It represented a 31.3% and 7.6% increase from FQ3'19, respectively. The&nbsp;growth for Eliquiswas due to a 16% increase in prescription volume, while IBRANCE was driven by deferred diagnosis and treatment caused by the pandemic.</p><p><blockquote>在 21 年第三季度，辉瑞的收入为 24.1 亿美元，与 COVID-19 之前的水平相比，同比增长 233.9%。同一季度，辉瑞还报告了其他细分市场的增长。在 2021 年第三季度，肿瘤科和医院部门的销售额分别比 2019 年第三季度增长了 31.4% 和 24%。此外，Eliquis（内科口服抗凝剂）和IBRANCE（肿瘤学乳腺癌治疗）的销售额分别为13.4亿美元和1.38美元。较 2019 年第三季度分别增长 31.3% 和 7.6%。Eliquiswas的增长是由于处方量增加了16%，而IBRANCE是由疫情导致的延迟诊断和治疗推动的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2d00b01fc6db5a73811ce8f8d7e9de4f\" tg-width=\"847\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Pfizer Revenue By Segment. Source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞按部门划分的收入。资料来源：公司文件</span></p></blockquote></p><p> Pfizer also expects additional revenue from its COVID-19 vaccine due to the&nbsp;US FDA approval of its pediatric application&nbsp;in ages five to eleven. As of 22 November 2021, the&nbsp;Canadian,Malaysian, and&nbsp;Singapore governments&nbsp;have already approved or procured Comirnaty for the pediatric age group. Many other countries globally are also&nbsp;considering Comirnatyfor its young children. As the market leader in the COVID-19 vaccines, Pfizer will also report its&nbsp;clinical results for those aged two&nbsp;to five by Q4'21 and six months to two years old by Q1'22. Furthermore, booster shots have been approved by the USCDCandEU public health agency&nbsp;for all adults. It paves the way for a robust recurring revenue market for Pfizer.</p><p><blockquote>由于美国 FDA 批准了其 5 至 11 岁儿童的 COVID-19 疫苗应用，辉瑞还预计其 COVID-19 疫苗将带来额外收入。截至2021年11月22日，加拿大、马来西亚和新加坡政府已经批准或采购了儿科年龄组的Comirnaty。全球许多其他国家也在考虑为其幼儿提供Comirnaty。作为 COVID-19 疫苗的市场领导者，辉瑞还将在 2021 年第四季度报告 2 至 5 岁人群的临床结果，并在 2022 年第一季度报告 6 个月至 2 岁人群的临床结果。此外，USCDCandEU公共卫生机构已经批准对所有成年人进行加强注射。这为辉瑞强劲的经常性收入市场铺平了道路。</blockquote></p><p> Pfizer aims to distribute2.3B doses of its vaccines by the end of 2021, accounting for$36B of revenue. Furthermore, in FQ3'21, Pfizerraised its guidance for FY2021's total revenue&nbsp;to $81B to $82B. The difference is mainly attributed to robust sales in Comirnaty. The raised guidance also reflects the international community's confidence in Pfizer's vaccine.</p><p><blockquote>辉瑞的目标是到 2021 年底分发 2.3B 剂疫苗，收入为 36B 美元。此外，在 2021 年第三季度，辉瑞将 2021 财年总收入指引上调至 810 亿美元至 820 亿美元。这一差异主要归因于 Comirnaty 的强劲销售。上调的指导意见也反映了国际社会对辉瑞疫苗的信心。</blockquote></p><p> But, consensus estimates expect Pfizer to post $81.3B in total revenue in FY2022, of which&nbsp;vaccine sales will account for $29B. The estimates suggest normalization in Comirnaty sales through FY2023, as COVID-19 becomes endemic.</p><p><blockquote>但是，普遍估计辉瑞在2022财年的总收入将达到813亿美元，其中疫苗销售将占29B美元。估计表明，随着 COVID-19 成为地方病，到 2023 财年，Comirnaty 销售将恢复正常。</blockquote></p><p> However, we expect additional upside to Pfizer's revenue attributed to its antiviral COVID-19 candidate and the possibility of Pfizer's adapted vaccine against the Omicron variant.</p><p><blockquote>然而，我们预计辉瑞的收入将进一步增长，这归功于其抗病毒 COVID-19 候选药物以及辉瑞针对奥密克戎变种的改良疫苗的可能性。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a45c8c8167dd4302253c667fb7074bc9\" tg-width=\"847\" tg-height=\"515\" width=\"100%\" height=\"auto\"><span>Pfizer Projected Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞预计收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> On 16 November 2021, Pfizer filed for&nbsp;EUA for PAXLOVID, its COVID-19 antiviral treatment. The treatment achieved 89% efficacy in clinical trials, which is better than Merck'sMolnupiravir at 30%. PAXLOVID's treatment is suitable for patients with mild to moderate symptoms, with a high risk of hospitalization or death. The US government also signed an&nbsp;Advanced Purchase Agreement(APA) for 10M doses, worth $529 per treatment course. The treatment may be delivered to the patients as early as Q4'21, upon FDA approval.SVB Leerinkestimated that PAXLOVID might account for an additional $24B in Pfizer's FY2022 revenue. Therefore, it could add further upside to Pfizer's vaccines revenue.</p><p><blockquote>2021 年 11 月 16 日，辉瑞为其 COVID-19 抗病毒治疗药物 PAXLOVID 申请了 EUA。该疗法在临床试验中取得了89%的有效率，优于默沙东公司的sMolnupiravir的30%。PAXLOVID的治疗适用于轻度至中度症状、住院或死亡风险较高的患者。美国政府还签署了1000万剂疫苗的预购协议（APA），每个疗程价值529美元。经 FDA 批准，该治疗最早可能在 2021 年第四季度提供给患者。 SVB Leerink 估计，PAXLOVID 可能会为辉瑞 2022 财年的收入增加 24B 美元。因此，它可能会进一步增加辉瑞疫苗收入的上升空间。</blockquote></p><p> Furthermore,Pfizer has licensed PAXLOVIDto Medicines Patent Pool(MPP), a United Nations-backed public health organization. It allows other generic drug manufacturers to produce the COVID-19 antiviral pill at lower prices. The reduced price will increase the pills' outreach to53% of the global population&nbsp;from 95 low- and middle-income countries.</p><p><blockquote>此外，辉瑞已将 Paxlovid 授权给联合国支持的公共卫生组织 Medicines Patent Pool (MPP)。它允许其他仿制药制造商以较低的价格生产新冠肺炎抗病毒药丸。降低的价格将使这些药丸的覆盖范围扩大到来自95个中低收入国家的53%的全球人口。</blockquote></p><p> Thus far, Pfizer has&nbsp;demonstrated exemplary execution.The company has managed to clear its clinical trials and the US FDA regulatory processes/ approvals speedily. In addition, no other COVID-19 vaccine makers have come close to the Pfizer/BioNTech partnership regarding its COVID-19 vaccines revenue. Its success is attributed to decades-old expertise and existing infrastructure in the Pharmaceuticals industry, paired with BioNTech's brilliant mRNA technology.</p><p><blockquote>到目前为止，辉瑞已经展示了模范执行力。该公司已设法快速通过其临床试验和美国FDA监管流程/批准。此外，没有其他新冠肺炎疫苗制造商在新冠肺炎疫苗收入方面接近辉瑞/BioNTech合作伙伴关系。其成功归功于制药行业数十年的专业知识和现有基础设施，以及 BioNTech 出色的 mRNA 技术。</blockquote></p><p> Moreover, Pfizer has a solid portfolio of therapeutics, including Eliquis, IBRANCE, and the Prevnar family (Pneumococcal vaccine). These 3 drugs have accounted for $16.3B in revenue in the last twelve months (LTM).</p><p><blockquote>此外，辉瑞拥有可靠的治疗产品组合，包括 Eliquis、IBRANCE 和 Prevnar 系列（肺炎球菌疫苗）。这 3 种药物在过去 12 个月 (LTM) 的收入为 16.3B 美元。</blockquote></p><p> <b>Pfizer's Aggressive Product Pipeline</b></p><p><blockquote><b>辉瑞积极的产品管线</b></blockquote></p><p> Pfizer continues to expand with94 programs in development. Of these, nine are in the registration stage, with 38 programs in phase 2/3 clinical trials. Furthermore, there are six mRNA programs in collaboration with BioNTech for COVID-19 vaccines and one directly under Pfizer for its mRNA Influenza vaccine (phase 1).</p><p><blockquote>辉瑞继续扩张，有94个项目正在开发中。其中，9个项目处于注册阶段，38个项目处于2/3期临床试验。此外，还有六个与BioNTech合作的mRNA项目用于新冠肺炎疫苗，一个直接由辉瑞领导的mRNA流感疫苗（第一阶段）。</blockquote></p><p></p><p> Pfizer has also&nbsp;acquired and collaborated with many companies&nbsp;in multiple specializations, such as oncology, gene therapy, and cardiovascular treatment, as part of its long-term expansion plan. These investments have resulted in three approvals and four Emergency Use Authorizations, with many more in research and development. Over the next 18 months, Pfizer also expectsten program approvals. In addition, since 2019, Pfizer has:</p><p><blockquote>作为其长期扩张计划的一部分，辉瑞还收购了肿瘤学、基因治疗和心血管治疗等多个专业领域的许多公司并与之合作。这些投资已获得三项批准和四项紧急使用授权，还有更多用于研发。在接下来的 18 个月内，辉瑞还预计 STEN 项目将获得批准。此外，自2019年以来，辉瑞已经：</blockquote></p><p> <ul>  <li>Acquired Array BioPharma, a pre-revenue pharmaceutical company specializing in Oncology</li>  <li>Acquired Therachon, a pre-revenue biotechnology company with interests in Achondroplasia and Short Bowel Syndrome</li>  <li>Acquired Trillium Therapeutics Inc. (TRIL), a pre-revenue immuno-oncology company specializing in Oncology</li>  <li>Collaborated with Vivet Therapeutics for research on Wilson disease gene therapy</li>  <li>Collaborated with Akcea Therapeutics, Inc. (AKCA) for the treatment of cardiovascular and metabolic diseases</li>  <li>Collaborated with Valneva SE (OTCPK:INRLF) for the development of Lyme disease vaccine candidate, VLA15</li>  <li>Collaborated with Myovant Sciences Ltd. (MYOV) for the treatment of advanced prostate cancer</li>  <li>Collaborated with Arvinas, Inc. (ARVN) to treat breast cancer and improve the efficacy of IBRANCE (Pfizer's approved breast cancer treatment) for metastatic settings</li> </ul> Pfizer'spipelineincludesmultiple research and developmentsuch as:</p><p><blockquote><ul><li>收购 Array BioPharma，一家专注于肿瘤学的营收前制药公司</li><li>收购 Therachon，一家收入前生物技术公司，对软骨发育不全和短肠综合征感兴趣</li><li>收购 Trillium Therapeutics Inc. (TRIL)，这是一家专门从事肿瘤学的营收前免疫肿瘤学公司</li><li>与Vivet Therapeutics合作开展威尔逊氏病基因治疗研究</li><li>与 Akcea Therapeutics, Inc. (AKCA) 合作治疗心血管和代谢疾病</li><li>与Valneva SE（OTCPK：INRLF）合作开发莱姆病候选疫苗VLA15</li><li>与Myovant Sciences Ltd. (MYOV)合作治疗晚期前列腺癌</li><li>与 Arvinas, Inc. (ARVN) 合作治疗乳腺癌并提高 IBRANCE（辉瑞批准的乳腺癌治疗方法）对转移性疾病的疗效</li></ul>辉瑞的产品线包括多项研发，例如：</blockquote></p><p> <ul>  <li>Vaccines, including Prevnar 20 (Pneumococcal) and Respiratory Syncytial Virus (RSV)</li>  <li>Oncology, including the breast, prostate, and blood cancer</li>  <li>Rare Diseases, including gene therapies for hemophilia A/B and Duchenne's Muscular Dystrophy</li>  <li>Internal Medicine, including diabetes</li>  <li>Immunology and Inflammation, including rheumatoid arthritis, inflammatory bowel disease, and vitiligo</li> </ul> Based on its existing portfolio and pipeline, Pfizer guided future revenue growth at a CAGR of 6% through FY2025. The guidance does not include its COVID-19 vaccine, Comirnaty, or potential earnings from future mRNA programs. Nevertheless, it shows that Pfizer is confident in its future growth despite the normalization from the Cominarty sales. With an arsenal of profitable therapeutics and promising research and development, Pfizer looks fantastic as an anchor investment for a pharmaceutical investor.</p><p><blockquote><ul><li>疫苗，包括Prevnar 20（肺炎球菌）和呼吸道合胞病毒（RSV）</li><li>肿瘤学，包括乳腺癌、前列腺癌和血癌</li><li>罕见疾病，包括血友病A/B和杜氏肌营养不良症的基因疗法</li><li>内科，包括糖尿病</li><li>免疫学和炎症，包括类风湿性关节炎、炎性肠病和白癜风</li></ul>基于其现有的产品组合和产品线，辉瑞预计到 2025 财年，未来收入增长的复合年增长率为 6%。该指引不包括其 COVID-19 疫苗、Comirnaty 或未来 mRNA 项目的潜在收入。尽管如此，这表明辉瑞对其未来的增长充满信心，尽管Cominarty销售正常化。辉瑞拥有一系列有利可图的疗法和有前途的研发，作为制药投资者的锚投资，辉瑞看起来非常棒。</blockquote></p><p> <b>Novavax's Nascent Foray into The BioTech Sector</b></p><p><blockquote><b>Novavax 新兴进军生物技术领域</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7ee7b67ab7c5e746455428648918245c\" tg-width=\"917\" tg-height=\"506\" width=\"100%\" height=\"auto\"><span>Emergency Use Authorisation Application. Source:Novavax</span></p><p><blockquote><p class=\"t-img-caption\"><span>紧急使用授权申请。资料来源：Novavax</span></p></blockquote></p><p> Novavax has already obtained its EUA approvals for its COVID-19 vaccine, NVX-CoV2373, in&nbsp;Indonesian 1 November 2021 and the&nbsp;Philippineson 17 November 2021. Furthermore, many other approvals are pending in the UK, Australia, Canada, Europe, WHO, India, New Zealand,&nbsp;South Korea, and&nbsp;Singapore. To prepare for the regulatory approval and potential rollout of its vaccines, Novavax has increased its manufacturing capacity in multiple territories, up to 150M vaccine doses a month. As a result, the company projected over2B doses to be distributed in FY2022. The established global supply chain for the production of Novavax's COVID-19 vaccine includes:</p><p><blockquote>Novavax 已于 2021 年 11 月 1 日在印度尼西亚获得 EUA 批准，并于 2021 年 11 月 17 日在菲律宾获得 EUA 批准。此外，英国、澳大利亚、加拿大、欧洲、世卫组织、印度、新西兰、韩国和新加坡还有许多其他批准正在等待中。为了准备监管部门的批准和疫苗的潜在推出，Novavax 提高了其在多个地区的生产能力，每月最多可生产 1.5 亿剂疫苗。因此，该公司预计2022财年将分发超过2B剂量。Novavax 生产 COVID-19 疫苗的既定全球供应链包括：</blockquote></p><p> <ul>  <li>Serum Institute of India</li>  <li>Novavax's site in the Czech Republic and Sweden</li>  <li>SK Bioscience Co in South Korea</li>  <li>Takeda Pharmaceutical Company in Japan</li>  <li>Biofibre in Spain</li>  <li>Fujifilm in the US and UK</li>  <li>Mabion in Poland</li>  <li>the National Research Council in Poland and Canada</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6c9f5618ee41b46f9f2325c8a28c011\" tg-width=\"871\" tg-height=\"477\" width=\"100%\" height=\"auto\"><span>Novavax Global Supply Chain. Source:Novavax</span></p><p><blockquote><ul><li>印度血清研究所</li><li>Novavax 位于捷克共和国和瑞典的工厂</li><li>韩国SK生物科学公司</li><li>日本武田制药公司</li><li>西班牙的生物纤维</li><li>富士胶片在美国和英国</li><li>波兰的马比翁</li><li>波兰和加拿大国家研究委员会</li></ul><p class=\"t-img-caption\"><span>Novavax全球供应链。资料来源：Novavax</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34de59290b1dc616668e3a0fb2936290\" tg-width=\"858\" tg-height=\"531\" width=\"100%\" height=\"auto\"><span>Novavax Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Novavax 收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> In FQ3'21, Novavax reported$179M revenue. The number includes $98M from government contracts, $41M from CEPI grant revenue, and $40M from royalty revenue. The royalty revenue came from SK Biosciences' sales of NVX-CoV2373 antigen components to the government. Novavax is expected to report revenue of $1.4B for FY2021. The sales will include part of the$7B worth of Advance Purchase Agreements&nbsp;of NVX-CoV2373 to be shipped globally.</p><p><blockquote>2021 年第三季度，Novavax 报告收入为 1.79 亿美元。这个数字包括来自政府合同的9800万美元、来自CEPI赠款收入的4100万美元和来自特许权使用费收入的4000万美元。特许权使用费收入来自SK Biosciences向政府销售NVX-CoV2373抗原成分。Novavax 预计 2021 财年收入为 $1.4B。此次销售将包括价值 7B 美元的 NVX-CoV2373 预购协议的一部分，该协议将在全球范围内发货。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f0b307cda2b15d1695dd4762af1c3a0\" tg-width=\"857\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Novavax Projected Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Novavax 预计收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p></p><p> Currently, Novavax has several COVID-19 clinical trials in progress globally. The US and Australian trial participants have received their&nbsp;booster shots at 6 and 12 months&nbsp;after the two-dose regimen. The company previously reported that the6 monthly boosters shot&nbsp;sufficiently increased the functional levels of wild-type neutralization and the IgG antibody. With such promising results, Novavax aims to complete its booster clinical trial for regulatory submissions as well.</p><p><blockquote>目前，Novavax 在全球范围内正在进行多项 COVID-19 临床试验。美国和澳大利亚的试验参与者在两剂方案后6个月和12个月接受了加强注射。该公司此前报告称，6个月加强注射足以提高野生型中和和IgG抗体的功能水平。有了如此有希望的结果，Novavax的目标是完成其加强临床试验，以便提交监管机构。</blockquote></p><p> By the end of 2021, Novavax aims to&nbsp;complete its regulatory submission globally, especially to the US FDA and EMA. In addition, the company will also proceed with the dosage selection for its combinedNanoFlu/NVX-CoV2373clinical trial (to be further discussed later).</p><p><blockquote>到2021年底，Novavax的目标是在全球范围内完成监管提交，特别是向美国FDA和EMA提交。此外，公司还将继续进行其combinedNanoFlu/NVX-CoV2373临床试验的剂量选择（稍后将进一步讨论）。</blockquote></p><p> Novavax's Robust Pipeline In Influenza</p><p><blockquote>Novavax 在流感领域的强大管道</blockquote></p><p> Beyond its COVID-19 vaccine, Novavax has&nbsp;eight other programs in development. There are three in Phase 2/3 clinical stage, which are ResVax, RSV F, and NanoFlu. Both ResVax and RSV F targets Respiratory Syncytial Virus (RSV) in different age groups. However, both&nbsp;have not passed&nbsp;the necessary clinical test. Therefore, they also do not have the required efficacy for EMA &amp; FDA approval.</p><p><blockquote>除了 COVID-19 疫苗外，Novavax 还有其他八个项目正在开发中。有三个处于2/3期临床阶段，分别是ResVax、RSV F和NanoFlu。ResVax和RSV F都针对不同年龄组的呼吸道合胞病毒（RSV）。然而，两者都没有通过必要的临床试验。因此，它们也不具备EMA和FDA批准所需的功效。</blockquote></p><p> On the other hand, NanoFlu has recorded top-line results for both&nbsp;clinical trialsagainstSanofi's approved flu vaccine Fluzone Quadrivalent. Sanofi is currently the largest manufacturer of influenza vaccines in the world. Notably, Sanofi supplied250 million doses of Influenza vaccines&nbsp;globally in 2020, worth$2.9B in sales. Therefore, Novavax may capitalize on a massive global Influenza market. As of early 2020, the US FDA has already granted NanoFlu a&nbsp;Fast Track Designation. In September 2021, Novavax also published the&nbsp;NanoFlu Influenza Vaccine Phase 3 Clinical Trial&nbsp;results. However, it remains to be seen when Novavax will file for US FDA approval and if it will be granted.</p><p><blockquote>另一方面，NanoFlu 针对赛诺菲批准的流感疫苗 Fluzone Quadrivalent 的两项临床试验均取得了顶级结果。赛诺菲是目前全球最大的流感疫苗生产商。值得注意的是，赛诺菲2020年在全球供应了2.5亿剂流感疫苗，销售额达29亿美元。因此，Novavax 可能会利用庞大的全球流感市场。截至2020年初，美国FDA已经授予NanoFlu快速通道称号。2021年9月，Novavax还公布了NanoFlu流感疫苗3期临床试验结果。然而，Novavax何时将申请美国FDA批准以及是否会获得批准仍有待观察。</blockquote></p><p> Furthermore, in May 2021, Novavax announced the results of its combined vaccineNanoFlu/NVX-CoV2373in a pre-clinical test. The combined vaccine is a potential breakthrough as an annual COVID-19 booster shot and Influenza vaccine. Phase III clinical (animal) trials have&nbsp;detected little virus or none&nbsp;in the upper and lower respiratory tracts. In September 2021, Novavax initiated the&nbsp;combined vaccine trial Phase I/II in Australia&nbsp;for 640 healthy adults aged 50 to 70 years. These participants had either been fully vaccinated or previously infected with the SARS-CoV-2 virus.</p><p><blockquote>此外，2021年5月，Novavax公布了其联合疫苗NanoFlu/NVX-CoV2373在临床前试验中的结果。联合疫苗作为年度新冠肺炎加强注射和流感疫苗是一个潜在的突破。III期临床（动物）试验在上呼吸道和下呼吸道中很少或没有检测到病毒。2021年9月，Novavax在澳大利亚启动了针对640名50至70岁健康成年人的I/II期联合疫苗试验。这些参与者要么完全接种了疫苗，要么以前感染过新型冠状病毒病毒。</blockquote></p><p> In November 2021, Novavax published the&nbsp;full results of a combined vaccine trial&nbsp;involving NVX-CoV2373 and an approved influenza vaccine from Seqirus UK Limited. It proves that there are no safety issues while relatively preserving the immune responses from both vaccines. As a result, the combined vaccineNanoFlu/NVX-CoV2373may have a massive impact as the alternative to mRNA COVID-19 vaccines, combined with a highly effective Influenza shot.</p><p><blockquote>2021年11月，Novavax公布了涉及NVX-CoV2373和Seqirus UK Limited批准的流感疫苗的联合疫苗试验的完整结果。它证明了在相对保留两种疫苗的免疫反应的同时不存在安全问题。因此，纳米流感/NVX-CoV2373联合疫苗作为mRNA新冠肺炎疫苗的替代品，结合高效流感疫苗，可能会产生巨大影响。</blockquote></p><p> Compared to Pfizer's pipeline, Novavax's pipeline appear to have more concentrated applications and less diversified. However, we cannot discount that Novavax has only started to get its momentum going while Pfizer is already leading the herd. They are at entirely different scales and timeline altogether. We believe that NanoFlu has shown great potential in its clinical trials. Upon regulatory approval, NanoFlu could generate substantial revenue from the global Influenza vaccines market, which is expected to exceed$9.5B by 2027.</p><p><blockquote>与辉瑞的管道相比，Novavax的管道似乎应用更加集中，多样化程度较低。然而，我们不能忽视 Novavax 才刚刚开始发展势头，而辉瑞已经处于领先地位。它们处于完全不同的规模和时间线。我们相信NanoFlu在其临床试验中显示出巨大潜力。一旦获得监管部门批准，NanoFlu 可以从全球流感疫苗市场产生可观的收入，预计到 2027 年将超过 $9.5B。</blockquote></p><p> <b>So, Which Stock is The Better Buy?</b></p><p><blockquote><b>那么，哪只股票更值得购买呢？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/132d624d7587dac52e1a3f2a2458ac72\" tg-width=\"854\" tg-height=\"529\" width=\"100%\" height=\"auto\"><span>Pfizer And Novavax EV/ Fwd Revenue. Source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>辉瑞和 Novavax EV/Fwd 收入。资料来源：标准普尔资本智商</span></p></blockquote></p><p> Pfizer stock is currently trading at an EV/FY2022 revenue of 3.56x. It's significantly lower than its peers' comps set mean of 6.57x. Meanwhile, Novavax stock is trading at an EV/FY2022 revenue of 3.1x, considering the $7B purchase obligations. Furthermore, both are lower than Moderna stock at an EV/FY2022 revenue of 5.83x. As compared to Moderna and Pfizer stock, Novavax stock certainly looks like a huge bargain now.</p><p><blockquote>辉瑞股票目前的交易价格为 EV/2022 财年收入的 3.56 倍。它明显低于同行的 comps 集平均值 6.57 倍。与此同时，考虑到 70 亿美元的购买义务，Novavax 股票的 EV/2022 财年收入为 3.1 倍。此外，两者的 EV/2022 财年收入均低于 Moderna 股票的 5.83 倍。与 Moderna 和辉瑞股票相比，Novavax 股票现在看起来确实很便宜。</blockquote></p><p> Novavax has already obtained its EUA approvals in Indonesia and the Philippines, with many more pending globally. Its stock also looks attractive due to its potential mass rollout in lower-income countries. Nevertheless, we acknowledge that Novavax is still a fledgling company compared to Pfizer's decades-old experience. Investors looking for a reliable stock with a strong dividend payout should buy Pfizer stock at its dips. Moreover, Pfizer stock has had a discernible long-term uptrend over the last five years. PFE stock looks like a solid anchor stock for any pharmaceutical investor, given its robust pipeline, immaculate execution, and stable profitability.</p><p><blockquote>Novavax 已经在印度尼西亚和菲律宾获得了 EUA 批准，全球还有更多批准正在等待批准。由于其有可能在低收入国家大规模推广，其股票看起来也很有吸引力。尽管如此，我们承认，与辉瑞数十年的经验相比，Novavax 仍然是一家羽翼未丰的公司。寻找具有强劲股息支付的可靠股票的投资者应该在辉瑞股票下跌时买入。此外，辉瑞股票在过去五年中呈现出明显的长期上升趋势。鉴于 PFE 股票强大的产品线、完美的执行和稳定的盈利能力，对于任何制药投资者来说，它看起来都是一只可靠的锚股票。</blockquote></p><p></p><p> <i>Therefore, we rate both stocks at Buy.</i>However, we consider NVAX stock as more of a speculative play than a core anchor stock. Therefore, for investors who are more conservative, PFE stock might be a better buy. Nonetheless, NVAX stock could offer huge potential upside as a speculative stock in a well-diversified pharma portfolio.</p><p><blockquote><i>因此，我们对这两只股票的评级均为买入。</i>然而，我们认为 NVAX 股票更像是一种投机性股票，而不是核心锚股票。因此，对于更保守的投资者来说，PFE 股票可能是更好的选择。尽管如此，NVAX 股票作为多元化制药投资组合中的投机性股票，可以提供巨大的潜在上涨空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4472461-novavax-vs-pfizer-stock\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药","PFE":"辉瑞"},"source_url":"https://seekingalpha.com/article/4472461-novavax-vs-pfizer-stock","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143190844","content_text":"Summary\n\nPfizer expects Comirnaty to account for $36B in revenue in FY21 and $29B in sales in FY22.\nPfizer recently filed for the Emergency Use Authorization for its COVID-19 antiviral candidate, PAXLOVID, which is expected to bring in $24B in sales in FY22.\nNovavax obtained its regulatory approvals for NVX-CoV2373 in both Indonesia and the Philippines. The company can finally start fulfilling its $7B worth of purchase obligations.\nWe discuss which stock is the better buy for investors now.\n\nInvestment Thesis\nPfizer (PFE) expects to sell2.3B of its vaccines in FY2021, representing up to 44.5% of total projected sales of $82B. In addition, the company guided Cominarty sales to account for $36B of revenue in FY2021 and $29B in FY2022. Pfizer also recently submitted itsCOVID-19 Antiviral Candidate, PAXLOVID, for Emergency Use Authorization (EUA) in the US. PAXLOVID achieved89% efficacy in its clinical trials in reducing the risk of COVID-19-related hospitalization or death. As a result,SVB Leerinkestimates PAXLOVID to bring in $24B of sales for Pfizer in FY2022.\nNovavax (NVAX) has$7B worth of Advance Purchase Agreements of NVX-CoV2373 to fulfill by FY2022. Novavax has also finally obtained its regulatory approvals in Indonesia and the Philippines while awaiting approvals in many other countries. Though Novavax has yet to submit for US FDA approval, we believe its vaccine could have more potential within the lower-income countries.\nWe discuss which stock is the better buy now.\nOmicron - The Variant Of Concern\nOn 14 November 2021, a new variant of the COVID-19 virus, B.1.1.529,Omicron, was detected in Gauteng, South Africa. Scientists hypothesized that the Omicron could be an escape variant due to the doubling of mutations compared to the Delta variant. As the most predominant strain globally,CDC reported that the Delta variant caused more infections and spread faster than its early forms. Some scientists have indicated that the high number of mutations may be linked to its resistance to antibodies and possibly be more contagious. Prof Ravi Gupta, from the University of Cambridge, said:\n\n Beta was all immune escape and nothing else, Delta had infectivity and modest immune escape, this potentially has both to high degrees.\" (BBC)\n\nFurthermore, the new highly mutated virus is considerably different from those originally used to design the existing COVID-19 vaccines. As a result, there is a legitimate concern that Omicron may\"elude the targeted immune response\"by the current vaccines and be highly virulent. Professor Lawrence Young, a virologist at Britain's Warwick University, said,\n\n This new variant of the COVID-19 virus is very worrying. It is the most heavily mutated version of the virus we have seen to date. Some of the mutations that are similar to changes we've seen in other variants of concern are associated with enhanced transmissibility and with partial resistance to immunity induced by vaccination or natural infection.\" (CNA)\n\nAs a result of the discovery, countries have placed travel restrictions on those arriving from Africa. It includes the US, EU, the UK, Canada, Australia, Japan, Singapore, and many others. In addition, the stock market has also been affected, especially those in the travel and hospitality industry. Many expect that the Omicron may cause another surge in lockdowns and further delay the global recovery from the pandemic. It is worrying indeed since international travel lanes have just reopened in early November 2021.\nNonetheless,Pfizer and BioNTechhave long prepared for the emergence of the supposed \"escape variant.\" \"Pfizer and BioNTech (BNTX) took actions months ago to be able to adapt the mRNA vaccine within six weeks and ship initial batches within 100 days,\" the company said. In addition, Moderna (MRNA), Johnson & Johnson (JNJ), and AstraZeneca (AZN) have started their investigation on the efficacy of their vaccines against the new variant of concern. They expect to announce lab-based experimental results in two weeks.\nPfizer is The Market Leader in COVID-19 Vaccines\nPfizer Revenue. Source: S&P Capital IQ\nPfizer enjoyed immense growth in its revenue since the first distribution of its COVID-19 vaccine in December 2020. In barely a year, Pfizer bulldozed its way into delivering2.11B doses of its COVID-19 vaccine. In doing so, the company has inoculated 13.3% of the world's population with two doses of Comirnaty.\nIn FQ3'21, Pfizer recorded $24.1B in revenue, representing a 233.9% YoY growth compared to pre-COVID-19 levels. In the same quarter, Pfizer also reported growth in other segments. In FQ3'21, the Oncology and Hospital segments reported 31.4% and 24% growth from FQ3'19 sales, respectively. Furthermore, Eliquis (oral anticoagulant from Internal Medicine) and IBRANCE (breast cancer treatment from Oncology) generated $1.34B and $1.38 in sales. It represented a 31.3% and 7.6% increase from FQ3'19, respectively. The growth for Eliquiswas due to a 16% increase in prescription volume, while IBRANCE was driven by deferred diagnosis and treatment caused by the pandemic.\nPfizer Revenue By Segment. Source: Company filings\nPfizer also expects additional revenue from its COVID-19 vaccine due to the US FDA approval of its pediatric application in ages five to eleven. As of 22 November 2021, the Canadian,Malaysian, and Singapore governments have already approved or procured Comirnaty for the pediatric age group. Many other countries globally are also considering Comirnatyfor its young children. As the market leader in the COVID-19 vaccines, Pfizer will also report its clinical results for those aged two to five by Q4'21 and six months to two years old by Q1'22. Furthermore, booster shots have been approved by the USCDCandEU public health agency for all adults. It paves the way for a robust recurring revenue market for Pfizer.\nPfizer aims to distribute2.3B doses of its vaccines by the end of 2021, accounting for$36B of revenue. Furthermore, in FQ3'21, Pfizerraised its guidance for FY2021's total revenue to $81B to $82B. The difference is mainly attributed to robust sales in Comirnaty. The raised guidance also reflects the international community's confidence in Pfizer's vaccine.\nBut, consensus estimates expect Pfizer to post $81.3B in total revenue in FY2022, of which vaccine sales will account for $29B. The estimates suggest normalization in Comirnaty sales through FY2023, as COVID-19 becomes endemic.\nHowever, we expect additional upside to Pfizer's revenue attributed to its antiviral COVID-19 candidate and the possibility of Pfizer's adapted vaccine against the Omicron variant.\nPfizer Projected Revenue. Source: S&P Capital IQ\nOn 16 November 2021, Pfizer filed for EUA for PAXLOVID, its COVID-19 antiviral treatment. The treatment achieved 89% efficacy in clinical trials, which is better than Merck'sMolnupiravir at 30%. PAXLOVID's treatment is suitable for patients with mild to moderate symptoms, with a high risk of hospitalization or death. The US government also signed an Advanced Purchase Agreement(APA) for 10M doses, worth $529 per treatment course. The treatment may be delivered to the patients as early as Q4'21, upon FDA approval.SVB Leerinkestimated that PAXLOVID might account for an additional $24B in Pfizer's FY2022 revenue. Therefore, it could add further upside to Pfizer's vaccines revenue.\nFurthermore,Pfizer has licensed PAXLOVIDto Medicines Patent Pool(MPP), a United Nations-backed public health organization. It allows other generic drug manufacturers to produce the COVID-19 antiviral pill at lower prices. The reduced price will increase the pills' outreach to53% of the global population from 95 low- and middle-income countries.\nThus far, Pfizer has demonstrated exemplary execution.The company has managed to clear its clinical trials and the US FDA regulatory processes/ approvals speedily. In addition, no other COVID-19 vaccine makers have come close to the Pfizer/BioNTech partnership regarding its COVID-19 vaccines revenue. Its success is attributed to decades-old expertise and existing infrastructure in the Pharmaceuticals industry, paired with BioNTech's brilliant mRNA technology.\nMoreover, Pfizer has a solid portfolio of therapeutics, including Eliquis, IBRANCE, and the Prevnar family (Pneumococcal vaccine). These 3 drugs have accounted for $16.3B in revenue in the last twelve months (LTM).\nPfizer's Aggressive Product Pipeline\nPfizer continues to expand with94 programs in development. Of these, nine are in the registration stage, with 38 programs in phase 2/3 clinical trials. Furthermore, there are six mRNA programs in collaboration with BioNTech for COVID-19 vaccines and one directly under Pfizer for its mRNA Influenza vaccine (phase 1).\nPfizer has also acquired and collaborated with many companies in multiple specializations, such as oncology, gene therapy, and cardiovascular treatment, as part of its long-term expansion plan. These investments have resulted in three approvals and four Emergency Use Authorizations, with many more in research and development. Over the next 18 months, Pfizer also expectsten program approvals. In addition, since 2019, Pfizer has:\n\nAcquired Array BioPharma, a pre-revenue pharmaceutical company specializing in Oncology\nAcquired Therachon, a pre-revenue biotechnology company with interests in Achondroplasia and Short Bowel Syndrome\nAcquired Trillium Therapeutics Inc. (TRIL), a pre-revenue immuno-oncology company specializing in Oncology\nCollaborated with Vivet Therapeutics for research on Wilson disease gene therapy\nCollaborated with Akcea Therapeutics, Inc. (AKCA) for the treatment of cardiovascular and metabolic diseases\nCollaborated with Valneva SE (OTCPK:INRLF) for the development of Lyme disease vaccine candidate, VLA15\nCollaborated with Myovant Sciences Ltd. (MYOV) for the treatment of advanced prostate cancer\nCollaborated with Arvinas, Inc. (ARVN) to treat breast cancer and improve the efficacy of IBRANCE (Pfizer's approved breast cancer treatment) for metastatic settings\n\nPfizer'spipelineincludesmultiple research and developmentsuch as:\n\nVaccines, including Prevnar 20 (Pneumococcal) and Respiratory Syncytial Virus (RSV)\nOncology, including the breast, prostate, and blood cancer\nRare Diseases, including gene therapies for hemophilia A/B and Duchenne's Muscular Dystrophy\nInternal Medicine, including diabetes\nImmunology and Inflammation, including rheumatoid arthritis, inflammatory bowel disease, and vitiligo\n\nBased on its existing portfolio and pipeline, Pfizer guided future revenue growth at a CAGR of 6% through FY2025. The guidance does not include its COVID-19 vaccine, Comirnaty, or potential earnings from future mRNA programs. Nevertheless, it shows that Pfizer is confident in its future growth despite the normalization from the Cominarty sales. With an arsenal of profitable therapeutics and promising research and development, Pfizer looks fantastic as an anchor investment for a pharmaceutical investor.\nNovavax's Nascent Foray into The BioTech Sector\nEmergency Use Authorisation Application. Source:Novavax\nNovavax has already obtained its EUA approvals for its COVID-19 vaccine, NVX-CoV2373, in Indonesian 1 November 2021 and the Philippineson 17 November 2021. Furthermore, many other approvals are pending in the UK, Australia, Canada, Europe, WHO, India, New Zealand, South Korea, and Singapore. To prepare for the regulatory approval and potential rollout of its vaccines, Novavax has increased its manufacturing capacity in multiple territories, up to 150M vaccine doses a month. As a result, the company projected over2B doses to be distributed in FY2022. The established global supply chain for the production of Novavax's COVID-19 vaccine includes:\n\nSerum Institute of India\nNovavax's site in the Czech Republic and Sweden\nSK Bioscience Co in South Korea\nTakeda Pharmaceutical Company in Japan\nBiofibre in Spain\nFujifilm in the US and UK\nMabion in Poland\nthe National Research Council in Poland and Canada\n\nNovavax Global Supply Chain. Source:Novavax\nNovavax Revenue. Source: S&P Capital IQ\nIn FQ3'21, Novavax reported$179M revenue. The number includes $98M from government contracts, $41M from CEPI grant revenue, and $40M from royalty revenue. The royalty revenue came from SK Biosciences' sales of NVX-CoV2373 antigen components to the government. Novavax is expected to report revenue of $1.4B for FY2021. The sales will include part of the$7B worth of Advance Purchase Agreements of NVX-CoV2373 to be shipped globally.\nNovavax Projected Revenue. Source: S&P Capital IQ\nCurrently, Novavax has several COVID-19 clinical trials in progress globally. The US and Australian trial participants have received their booster shots at 6 and 12 months after the two-dose regimen. The company previously reported that the6 monthly boosters shot sufficiently increased the functional levels of wild-type neutralization and the IgG antibody. With such promising results, Novavax aims to complete its booster clinical trial for regulatory submissions as well.\nBy the end of 2021, Novavax aims to complete its regulatory submission globally, especially to the US FDA and EMA. In addition, the company will also proceed with the dosage selection for its combinedNanoFlu/NVX-CoV2373clinical trial (to be further discussed later).\nNovavax's Robust Pipeline In Influenza\nBeyond its COVID-19 vaccine, Novavax has eight other programs in development. There are three in Phase 2/3 clinical stage, which are ResVax, RSV F, and NanoFlu. Both ResVax and RSV F targets Respiratory Syncytial Virus (RSV) in different age groups. However, both have not passed the necessary clinical test. Therefore, they also do not have the required efficacy for EMA & FDA approval.\nOn the other hand, NanoFlu has recorded top-line results for both clinical trialsagainstSanofi's approved flu vaccine Fluzone Quadrivalent. Sanofi is currently the largest manufacturer of influenza vaccines in the world. Notably, Sanofi supplied250 million doses of Influenza vaccines globally in 2020, worth$2.9B in sales. Therefore, Novavax may capitalize on a massive global Influenza market. As of early 2020, the US FDA has already granted NanoFlu a Fast Track Designation. In September 2021, Novavax also published the NanoFlu Influenza Vaccine Phase 3 Clinical Trial results. However, it remains to be seen when Novavax will file for US FDA approval and if it will be granted.\nFurthermore, in May 2021, Novavax announced the results of its combined vaccineNanoFlu/NVX-CoV2373in a pre-clinical test. The combined vaccine is a potential breakthrough as an annual COVID-19 booster shot and Influenza vaccine. Phase III clinical (animal) trials have detected little virus or none in the upper and lower respiratory tracts. In September 2021, Novavax initiated the combined vaccine trial Phase I/II in Australia for 640 healthy adults aged 50 to 70 years. These participants had either been fully vaccinated or previously infected with the SARS-CoV-2 virus.\nIn November 2021, Novavax published the full results of a combined vaccine trial involving NVX-CoV2373 and an approved influenza vaccine from Seqirus UK Limited. It proves that there are no safety issues while relatively preserving the immune responses from both vaccines. As a result, the combined vaccineNanoFlu/NVX-CoV2373may have a massive impact as the alternative to mRNA COVID-19 vaccines, combined with a highly effective Influenza shot.\nCompared to Pfizer's pipeline, Novavax's pipeline appear to have more concentrated applications and less diversified. However, we cannot discount that Novavax has only started to get its momentum going while Pfizer is already leading the herd. They are at entirely different scales and timeline altogether. We believe that NanoFlu has shown great potential in its clinical trials. Upon regulatory approval, NanoFlu could generate substantial revenue from the global Influenza vaccines market, which is expected to exceed$9.5B by 2027.\nSo, Which Stock is The Better Buy?\nPfizer And Novavax EV/ Fwd Revenue. Source: S&P Capital IQ\nPfizer stock is currently trading at an EV/FY2022 revenue of 3.56x. It's significantly lower than its peers' comps set mean of 6.57x. Meanwhile, Novavax stock is trading at an EV/FY2022 revenue of 3.1x, considering the $7B purchase obligations. Furthermore, both are lower than Moderna stock at an EV/FY2022 revenue of 5.83x. As compared to Moderna and Pfizer stock, Novavax stock certainly looks like a huge bargain now.\nNovavax has already obtained its EUA approvals in Indonesia and the Philippines, with many more pending globally. Its stock also looks attractive due to its potential mass rollout in lower-income countries. Nevertheless, we acknowledge that Novavax is still a fledgling company compared to Pfizer's decades-old experience. Investors looking for a reliable stock with a strong dividend payout should buy Pfizer stock at its dips. Moreover, Pfizer stock has had a discernible long-term uptrend over the last five years. PFE stock looks like a solid anchor stock for any pharmaceutical investor, given its robust pipeline, immaculate execution, and stable profitability.\nTherefore, we rate both stocks at Buy.However, we consider NVAX stock as more of a speculative play than a core anchor stock. Therefore, for investors who are more conservative, PFE stock might be a better buy. Nonetheless, NVAX stock could offer huge potential upside as a speculative stock in a well-diversified pharma portfolio.","news_type":1,"symbols_score_info":{"PFE":0.9,"NVAX":0.9}},"isVote":1,"tweetType":1,"viewCount":2827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609005485,"gmtCreate":1638203860642,"gmtModify":1638203860787,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"😂 LOL math must be fail.&nbsp;","listText":"😂 LOL math must be fail.&nbsp;","text":"😂 LOL math must be fail.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/609005485","repostId":"600742944","repostType":1,"isVote":1,"tweetType":1,"viewCount":2654,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":600399465,"gmtCreate":1638063834100,"gmtModify":1638063834100,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"What if continue bearish for another 2 years? My $5k stuck? Opportunity to earn more well be gone right?&nbsp;","listText":"What if continue bearish for another 2 years? My $5k stuck? Opportunity to earn more well be gone right?&nbsp;","text":"What if continue bearish for another 2 years? My $5k stuck? Opportunity to earn more well be gone right?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/600399465","repostId":"2186340224","repostType":2,"isVote":1,"tweetType":1,"viewCount":3913,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875663998,"gmtCreate":1637644159793,"gmtModify":1637644159793,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Billionaire want to become the Real&nbsp;shareholder. Up or down doesn't&nbsp;matter for Billionaires. So long biz generate return for him. Trader look for profit not long term&nbsp;","listText":"Billionaire want to become the Real&nbsp;shareholder. Up or down doesn't&nbsp;matter for Billionaires. So long biz generate return for him. Trader look for profit not long term&nbsp;","text":"Billionaire want to become the Real shareholder. Up or down doesn't matter for Billionaires. So long biz generate return for him. Trader look for profit not long term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/875663998","repostId":"2185871418","repostType":2,"isVote":1,"tweetType":1,"viewCount":3425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875660675,"gmtCreate":1637643918334,"gmtModify":1637643918436,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Buy both lol","listText":"Buy both lol","text":"Buy both lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/875660675","repostId":"1107351089","repostType":2,"isVote":1,"tweetType":1,"viewCount":2687,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":878908031,"gmtCreate":1637131725703,"gmtModify":1637131842898,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Buy&nbsp;","listText":"Buy&nbsp;","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/878908031","repostId":"2183883805","repostType":2,"isVote":1,"tweetType":1,"viewCount":3142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":845006652,"gmtCreate":1636250249094,"gmtModify":1636250377005,"author":{"id":"4090040387780440","authorId":"4090040387780440","name":"WilMic","avatar":"https://static.tigerbbs.com/7df19ab56ab9c1603935c4992ab4cc86","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4090040387780440","idStr":"4090040387780440"},"themes":[],"title":"","htmlText":"Giant capital make giant profile, make sense","listText":"Giant capital make giant profile, make sense","text":"Giant capital make giant profile, make sense","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/845006652","repostId":"2181374735","repostType":2,"isVote":1,"tweetType":1,"viewCount":2873,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"posts","isTTM":false}