About the Author
Keith Speights has positions in Pfizer. The Motley Fool has positions in and recommends Merck, Moderna, and Pfizer. The Motley Fool recommends BioNTech Se, Emergent BioSolutions, and GSK. The Motley Fool has a disclosure policy.
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Vaccine stocks are shares of publicly traded companies involved in developing vaccines that immunize against many disease-causing microorganisms. While vaccine stocks performed especially well during the COVID-19 pandemic, sales of COVID-19 vaccines have plunged in recent years. Does that mean investors should throw in the towel on vaccine stocks? Not at all.
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.
Here are four top vaccine stocks, plus two others to watch:
Follow these steps to invest in vaccine stocks:
The benefits of investing in vaccine stocks include:
However, there are also several risks associated with investing in vaccine stocks, such as:
The obvious -- and most important -- criterion in selecting these stocks was that they all had to develop vaccines. These particular stocks were selected because their vaccines are highly competitive.
Preference was given to the stocks of companies that already have approved products. These vaccine makers generate revenue. Some are already profitable.
Growth prospects were also considered. Each of the four primary vaccine stocks selected should have solid growth potential. The two vaccine stocks to watch (Bavarian Nordic and Emergent Biosolutions) could also deliver strong growth, but are riskier than the others.
Probably the most important characteristic of investors who could find vaccine stocks attractive is that they're comfortable with volatility. If you can't handle wild stock swings resulting from clinical updates or regulatory announcements, you'll probably be better off looking elsewhere.
Your investing horizon is another key factor in determining if vaccine stocks are for you. Vaccines can take years to develop and reach the market. As a result, vaccine stocks will be a better fit for investors with long-term horizons of at least five to 10 years.
Some investors whose portfolios are heavily weighted toward stable, defensive holdings could also find it appealing to buy small stakes in vaccine stocks. In addition, larger vaccine makers that pay dividends, such as Pfizer and GSK, could be attractive to income investors.




Pfizer (PFE -0.96%) made a great decision in 2020 when it partnered with the German biotechnology company BioNTech (BNTX +0.30%) to develop a COVID-19 vaccine. The vaccine, branded 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 under 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.
As Pfizer's partner, BioNTech (BNTX +0.30%) 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 COVID-19 vaccine it developed jointly.
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.
One thing to watch with BioNTech, though, is that its co-founders, Ugur Sahin and Özlem Türeci, plan to leave the company to start a new, independent biotech company. Sahin currently serves as BioNTech's CEO.
Moderna (MRNA +0.57%) 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 its next-generation COVID-19 vaccine NEXSPIKE in 2025. It also received European approval in April 2026 for mCOMBRIAX, the first flu/COVID-19 combination vaccine.
Moderna could have additional new products on the way. It awaits U.S. approval of seasonal flu vaccine mRNA-1010. The company is working with Merck (MRK -2.62%) 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 target several viruses and rare diseases.
GSK (GSK -1.93%) wasn't a major player in the COVID-19 vaccine market. However, the big pharmaceutical company has 17 other approved vaccines, including Shingrix, 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.
Emergent Biosolutions (EBS -6.37%) is probably best known for its anthrax vaccines and Narcan nasal spray for the emergency treatment of opioid overdoses. However, the company also markets other products, including smallpox and mpox vaccine ACAM2000.
Pfizer, BioNTech, Moderna, and GSK are arguably the top vaccine stocks for investors to consider. However, there are at least two other vaccine stocks to watch.
Bavarian Nordic A/S (OTC:BVNR.Y) markets vaccines for tick-borne encephalitis, smallpox, mpox (also known as monkeypox), rabies, cholera, and typhoid. An mpox outbreak in 2024 put this stock on the map for some investors.

| Name and ticker | Market capMarket cap calculated using publicly traded shares outstanding only. Does not include unlisted, private, or dual-class non-traded shares. Implied market cap may vary. | Current price | Dividend yield |
|---|---|---|---|
| Pfizer (NYSE:PFE) | $139.5 billion | $24.25 | 7.03% |
| BioNTech Se (NASDAQ:BNTX) | $22.8 billion | $90.34 | 0.00% |
| Moderna (NASDAQ:MRNA) | $26.6 billion | $67.39 | 0.00% |
| GSK (NYSE:GSK) | $104.7 billion | $51.28 | 3.43% |
| Bavarian Nordic A/s (OTC:BVNRY) | $2.1 billion | $9.28 | 0.00% |
| Emergent BioSolutions (NYSE:EBS) | $413.3 million | $7.50 | 0.00% |