Pfizer Shares Rise on Upgraded Price Forecast
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 7h ago
0mins
Source: Benzinga
- Forecast Upgrade: Cantor Fitzgerald raised Pfizer's price forecast from $24 to $27, providing a positive catalyst for the pharmaceutical giant despite a 1.6% decline in the broader healthcare sector.
- Licensing Agreement: Pfizer entered a non-exclusive licensing agreement with Novavax for its Matrix-M adjuvant technology, granting Novavax a $30 million upfront payment and potential milestones up to $500 million, indicating Pfizer's proactive approach in product development.
- FDA Breakthrough Therapy: Pfizer's Sutent, in combination with Cogent Biosciences' bezuclastinib, received FDA Breakthrough Therapy Designation after showing a 50% reduction in disease progression risk, enhancing Pfizer's competitive edge in oncology treatments.
- Leadership Warning: At the World Economic Forum, CEO Albert Bourla warned that reduced funding for U.S. universities has weakened America's position in global health research, highlighting China's dominance in health research rankings.
Analyst Views on PFE
Wall Street analysts forecast PFE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PFE is 28.56 USD with a low forecast of 24.00 USD and a high forecast of 35.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
16 Analyst Rating
5 Buy
11 Hold
0 Sell
Moderate Buy
Current: 25.880
Low
24.00
Averages
28.56
High
35.00
Current: 25.880
Low
24.00
Averages
28.56
High
35.00
About PFE
Pfizer Inc. is a research-based, global biopharmaceutical company. The Company is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. Its Biopharma segment includes the Pfizer U.S. Commercial Division, and the Pfizer International Commercial Division. Its product categories include oncology, primary care and specialty care. Its oncology products include Ibrance, Xtandi, Padcev, Adcetris, Inlyta, Lorbrena, Bosulif, Tukysa, Braftovi, Mektovi, Orgovyx, Elrexfio, Tivdak and Talzenna. Its primary care products include Eliquis, Nurtec ODT/Vydura, Zavzpret, the Prevnar family, Comirnaty, Abrysvo, FSME/IMMUN-TicoVac, Nimenrix, Trumenba, and Paxlovid. Its specialty care products include Xeljanz, Enbrel (outside the United States and Canada), Inflectra, Abrilada, Cibinqo, Litfulo, Eucrisa, Velsipity, the Vyndaqel family, Genotropin, BeneFIX, Xyntha, Somavert, Ngenla, Hympavzi, Sulperazon, Zavicefta, Octagam and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
