2024-03-12 13:05:20 ET
Summary
- Pfizer's share price has stabilized since the company provided 2024 revenue and EPS guidance in late 2023.
- The success of Adcetris in a trial for relapsed/refractory DLBCL is a positive step for Pfizer's oncology pipeline and the first win since the Seagen acquisition closed.
- Pfizer's long-term growth strategy in oncology, including the Seagen acquisition, is expected to contribute significantly to revenue growth in the coming years.
Shares of Pfizer Inc. ( PFE ) are little changed since my early December 2023 update where I covered the obesity pipeline setbacks and how my earlier call for a late summer bottom was not playing out as expected. Since then, the company lowered expectations for 2024 by guiding below Street expectations, and this may have been a kitchen-sink event that could allow the stock to start to recover and for forward estimates to stabilize and potentially start trending higher....
Read the full article on Seeking Alpha
For further details see:
Pfizer: Seagen Acquisition Starting To Bear Fruit