COVID-19 isn't as concerning to many Americans as it was in 2020. Unsurprisingly, sales of COVID-19 vaccines have plunged. Does that mean investors should throw in the towel on vaccine stocks? Not at all. Vaccine stocks are shares of publicly traded companies involved in the development of vaccines that immunize against many disease-causing microorganisms -- not just the virus that causes COVID-19.
For one thing, COVID-19 vaccines continue to generate significant revenue despite the sales declines. More importantly, there are lots of other types of vaccines that are key growth drivers for some pharmaceutical companies.
Here's what you need to know about investing in the top vaccine stocks, along with our top vaccine stock picks.
What to know about investing in vaccine stocks
Before investing in a vaccine stock, find out about the status of the company's vaccines. Many companies already have vaccines on the market, while others may or may not win regulatory approvals.
Also, learn about any issues the vaccine makers have experienced. Even companies that have obtained the necessary regulatory authorizations can encounter problems that ultimately prevent them from achieving commercial success.
You should also consider a company's other products and pipeline drug candidates. The stocks of drugmakers with other successful products are less risky than those of companies that don't have other products on the market.
Top vaccine stocks
Here are four top vaccine stocks, plus two others to watch:
| Name and ticker | Market cap | Dividend yield | Industry |
|---|---|---|---|
| Pfizer (NYSE:PFE) | $143.7 billion | 6.80% | Pharmaceuticals |
| BioNTech Se (NASDAQ:BNTX) | $24.1 billion | 0.00% | Biotechnology |
| Moderna (NASDAQ:MRNA) | $14.0 billion | 0.00% | Biotechnology |
| GSK (NYSE:GSK) | $102.1 billion | 3.37% | Pharmaceuticals |
| Bavarian Nordic A/s (OTC:BVNR.Y) | $2.4 billion | 0.00% | Biotechnology |
| Emergent BioSolutions (NYSE:EBS) | $730.0 million | 0.00% | Biotechnology |
1. Pfizer
NYSE: PFE
Key Data Points
Pfizer (PFE -0.59%) made a great decision in 2020 when it teamed up with German biotechnology company BioNTech (BNTX +2.14%) to develop a COVID-19 vaccine. The vaccine, given the brand name Comirnaty, was the first to win U.S. approval and was a massive commercial success for Pfizer -- at least for a few years.
Dwindling sales for Comirnaty have caused Pfizer's revenue to sink and have taken a steep toll on the pharmaceutical company's stock. However, Pfizer has two other vaccines on the market that generate significant revenue: pneumococcal vaccine Prevnar 20 and respiratory syncytial virus (RSV) vaccine Abrysvo.
Pfizer's pipeline features several other vaccines that are in development. They include Lyme disease vaccine PF-07307405, streptococcus vaccine PF-06760805, and influenza vaccine PF-07252220.
Vaccines aren't the only products that could contribute to Pfizer's growth, though. The company also markets drugs that treat a wide variety of conditions, including autoimmune diseases, cancer, and migraine. In addition, Pfizer pays an attractive dividend, making the stock a favorite of income-seeking investors.
2. BioNTech
NASDAQ: BNTX
Key Data Points
As Pfizer's partner, BioNTech (BNTX +2.14%) benefited from Pfizer's financial resources, global manufacturing capacity, and regulatory expertise. The company's messenger RNA (mRNA) technology was critical to the success of the jointly developed COVID-19 vaccine.
This COVID-19 vaccine remains BioNTech's primary revenue source for now. However, the company is working with Pfizer to evaluate a combination COVID-19/flu vaccine.
BioNTech is also developing several other vaccines and therapies targeting various types of cancer. Some of these programs are based on mRNA technology, while others are protein-based therapeutics.
3. Moderna
NASDAQ: MRNA
Key Data Points
Moderna (MRNA +0.65%) quickly followed Pfizer and BioNTech in winning U.S. approval for its COVID-19 vaccine. Although sales for this vaccine, marketed under the brand name SpikeVax, have deteriorated, it remains a major source of revenue for the company.
SpikeVax is no longer Moderna's only approved product, though. The company won U.S. approval in May 2024 for its RSV vaccine mResvia and for its next-generation COVID-19 vaccine mNEXSPIKE in 2025.
Moderna could have additional new products on the way. The list includes a seasonal flu vaccine and a combination COVID-19/flu vaccine. The company is working with Merck (MRK -0.25%) in the late-stage development of cancer vaccine mRNA-4157. Its pipeline also includes experimental vaccines and therapies in phase 1 and phase 2 testing that are targeting several viruses and rare diseases.
4. GSK
NYSE: GSK
Key Data Points
GSK (GSK +0.12%) wasn't a major player in the COVID-19 vaccine market. However, the big pharmaceutical company has 17 other approved vaccines, including Shingrix, which is a shingles vaccine.
Like Pfizer and Moderna, GSK markets an RSV vaccine for adults. The company won U.S. approval for the vaccine, which has the brand name Arexvy, in May 2023 for immunizing older adults and in June 2024 for adults ages 50 through 59.
GSK won U.S regulatory approval in February 2025 for meningitis vaccine Penmenvy. It is also evaluating several vaccines in late-stage clinical trials.
Vaccines aren't GSK's only focus, though. The drugmaker also markets medications targeting cancer as well as cardiovascular, neurological, and respiratory diseases.
OTC: BVNR.Y
Key Data Points
NYSE: EBS
Key Data Points
What to consider before investing in vaccine stocks
The following are some practical things to consider before you buy a vaccine stock:
- Know your risk tolerance. Some vaccine stocks can be highly volatile.
- Find out the patent expirations for current products. Stocks can decline as a patent cliff approaches.
- Evaluate the competitive landscape. Especially check to see if rival products are gaining market share.
- Research the vaccine maker's pipeline to assess its future growth potential.
- Make sure the stock's valuation is reasonable relative to its growth prospects.
Related investing topics
Global vaccine market outlook
Estimates vary on how much the global vaccine market is expected to grow over the next several years.
Market research company Research and Markets projects that the global vaccine market will grow from roughly $50.5 billion in 2025 to $63.7 billion by 2030, representing a compound annual growth rate (CAGR) of 4.8%. However, Mordor Intelligence estimates that the global vaccine market will expand by a CAGR of around 6.5% between 2025 and 2030, reaching $114.8 billion by the end of the decade.
Coherent Market Insights seems to align relatively well with Mordor Intelligence. The market researcher predicts that the global vaccine market will grow by a CAGR of 6.2% to $124.9 billion by 2032.
Key factors affecting the growth of the global vaccine market include:
- Technological innovation.
- Prevalence of infectious diseases.
- Government support of vaccination.
- Demographic trends.
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