{
}
UBS has maintained a 'Neutral' rating for Pfizer, setting a target price of $31 following an investor event. Analyst Trung Huynh noted the company's presentation on Ponsegromab's potential in treating cancer cachexia, with plans for quarterly updates on its development pipeline.
UBS has upgraded Pfizer to a 'Neutral' rating with a target price of $31, while Goldman Sachs and Jefferies have raised their targets to $33, recommending a 'Buy' rating. The pharmaceutical company has seen a sales increase due to a Covid-19 wave, prompting a positive outlook.
Bristol Myers Squibb reported third-quarter earnings of $1.80 per share on $11.89 billion in revenue, surpassing expectations, driven by Eliquis and its Growth Portfolio. The company raised its full-year revenue guidance and adjusted earnings forecast while preparing for cost cuts and potential revenue losses from upcoming drug exclusivities. Notably, the FDA approved its new schizophrenia drug, Cobenfy, marking a significant advancement in treatment options.
GSK's vaccine sales plummeted in the third quarter, with shingles vaccine sales down 7% and respiratory syncytial virus (RSV) shot Arexvy dropping 72% year over year. The decline is attributed to a narrower CDC recommendation, prioritization of COVID vaccinations, and lower RSV infection rates. GSK anticipates a low single-digit decline in overall vaccine sales for the year.
Consumer dissatisfaction with healthcare access is rising, with 1 in 4 feeling they lack high-quality care and many skipping necessary treatments due to costs. Innovative organizations are responding by forming cross-industry collaborations to meet evolving consumer needs, driven by a shift towards virtual health and direct-to-consumer sales. As traditional models face disruption, the market is poised for significant changes in 2025, emphasizing the importance of adapting to consumer preferences.
Pfizer CEO Albert Bourla expressed openness to ideas from activist investor Starboard Value, acknowledging the company's poor shareholder returns due to a significant drop last year. Despite pressure from Starboard, which holds a $1 billion stake, Bourla highlighted Pfizer's recent earnings beat and positive changes, including cost cuts and new board members. He also denied claims of discouraging former executives from joining Starboard's efforts.
Throughout 2024, the stock market has shown a strong uptrend, with the S&P 500 rising 22.1% year-to-date and reaching an all-time closing high of 5,860s on October 18. Despite some fluctuations, the index has consistently remained above its 50-day simple moving average, indicating robust market momentum. The Nasdaq has outperformed with a 23.7% gain, while the DJIA lags at 12.5%, impacted by underperforming stocks like Boeing, Intel, and Nike.
Pfizer's RSV vaccine, Abrysvo, generated $356 million in sales in Q3, down from $375 million last year, but the company reported a growing market share, exceeding 50% of shipped volume. Despite challenges from CDC guidelines affecting older adult uptake, maternal vaccination is seeing increased momentum. Pfizer is also advancing next-generation pneumococcal vaccines amid competition from Merck and Vaxcyte.
Pfizer reported a strong third quarter, exceeding earnings expectations and raising its 2024 revenue guidance to between $61 and $64 billion, driven by high demand for its COVID antiviral Paxlovid and other treatments. Despite facing pressure from activist investor Starboard Value, the company highlighted its cost-cutting measures and improved margins, while CEO Albert Bourla emphasized ongoing engagement with shareholders. However, concerns remain about the performance of recently launched drugs and the overall market for COVID products.
Pfizer Inc. has raised its earnings forecast for 2024 to between $2.75 and $2.95 per share, exceeding previous estimates by 30 cents, following a strong quarterly performance amid its ongoing conflict with activist investor Starboard Value LP. The company also increased its revenue guidance, driven by robust sales of its Covid drug, Paxlovid. Shares rose 1.1% in premarket trading.
Pfizer Inc.
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs maintains neutral rating on pfizer with target price of 31 dollars
20:58 01.11.2024
ubs and goldman sach upgrade pfizer amid positive sales outlook
United States Dollar
Pfizer Inc.
HSBC Holdings plc
Apple Inc.
McDonald's Corporation
USA
GBR
Show more
20:10 01.11.2024
bristol myers squibb exceeds earnings expectations and raises revenue outlook
United States Dollar
Bristol-Myers Squibb Company
Pfizer Inc.
USA
Joe Biden
Donald Trump
Pfizer
Show more
12:01 31.10.2024
gsk vaccine sales decline amid lower demand for rsv and shingles shots
20:15 30.10.2024
bridging gaps in care through consumer-driven innovation in health care
DexCom, Inc.
Humana Inc.
Pfizer Inc.
Eli Lilly and Company
Best Buy Co., Inc.
USA
Brian Rush
Kulleni Gebreyes
Neal Batra
Chris Kottenstette
Show more
15:54 30.10.2024
Pfizer CEO welcomes ideas amid pressure from activist investor Starboard
United States Dollar
Starboard Value LP
Pfizer Inc.
USA
Frank D’Amelio
Jim Cramer
Albert Bourla
Jeff Smith
Ian Read
Show more
23:30 29.10.2024
s and p 500 reaches all time high amid strong market trends
United States Dollar
NIKE, Inc.
Intel Corporation
Pfizer Inc.
The Boeing Company
USA
Intel
Boeing
Nike
Show more
23:18 29.10.2024
Pfizer's RSV vaccine sales decline but market share shows promising growth
United States Dollar
Vaxcyte, Inc.
Glaxosmithkline Export Ltd.
Pfizer Inc.
Merck & Co., Inc.
USA
Albert Bourla
Aamir Malik
Mikael Dolsten
Show more
20:21 29.10.2024
pfizer reports strong earnings and raises revenue guidance amid activist pressure
14:20 29.10.2024
Pfizer raises earnings forecast amid ongoing battle with Starboard Value
11:56 29.10.2024
Trending
Subcategory
Corporate News
Industry Trends
Stock Market Updates
Retail and Consumer Goods
Global Financial Events
Finance Mergers & Acquisitions
Global Trade Developments
Industry Mergers & Acquisitions
Central Bank Actions
CEO Changes
Banking Regulations
Supply Chain Management
Startups & Entrepreneurship
Energy Sector Developments
AI Innovations
Government Economic Policies
Cryptocurrency Trends
Market Analysis and Predictions
Workplace Trends
Private Equity Deals
Countries:
Companies:
The Goldman Sachs Group, Inc.
Bank of America Corporation
Alphabet Inc.
Apple Inc.
Tesla, Inc.
Citigroup Inc.
Barclays PLC
Wells Fargo & Company
Deutsche Bank RV Global PP
Commerzbank AG
PepsiCo, Inc.
Google Inc.
NVIDIA Corporation
BNP Paribas SA
UBS Group AG
Lloyds Banking Group plc
Wix.com Ltd.
BP Castrol K.K.
Valvoline Inc.
Bosch Limited
Currencies:
United States Dollar
Euro
Chinese Yuan
Swiss Franc
British Pound Sterling
Indian Rupee
Japanese Yen
Indonesian Rupiah
Canadian Dollar
Russian Ruble
United Arab Emirates Dirham
Offshore Chinese Yuan
Ghanaian Cedi
Hungarian Forint
Albanian Lek
South Korean Won
Brazilian Real
Singapore Dollar
Qatari Riyal
People:
Donald Trump
Elon Musk
Warren Buffett
Sergey Brin
Larry Page
Goldman Sachs
Kelvin Taylor
Carsten Fritsch
Christopher Chandler
Scott Bessent
Martin Schlegel
Jerome Powell
Kubra Khan
Joe Biden
Volkmar Baur
Christopher Wallerstedt
Brian Moynihan
Airlangga Hartarto
Francesco Gaetano Caltagirone
Leonardo Del Vecchio