Citi analyst Andrew Baum has maintained their neutral stance on PFE stock, giving a Hold rating on March 1.
Andrew Baum has given his Hold rating due to a combination of factors surrounding Pfizer’s current position and future prospects in the oncology market. He acknowledges the strength and competitiveness of Pfizer’s next-generation oncology pipeline, which includes several significant molecules targeting various cancers. Key personnel like Roger Dansey and increased operational expenditures to support R&D and commercialization are seen as positives. However, Baum also points out the intense competition within many of the indications Pfizer is targeting, which tempers the immediate upside potential of the company’s stock.
Baum’s cautious optimism is further explained by the near-term reliance on the uptake of certain products and the need for acceleration of some recently launched ones before the arrival of phase III data from major trials. He also evaluates specific assets in Pfizer’s pipeline, acknowledging their potential but also noting the challenges, such as high adverse event rates and competition from other major pharmaceutical companies. The expectation of sales and the potential efficacy benefits are weighed against the backdrop of dense competition, leading to the conclusion that while Pfizer has strong prospects, the current market conditions justify a Hold rating.
According to TipRanks, Baum is a 4-star analyst with an average return of 8.9% and a 64.55% success rate. Baum covers the Healthcare sector, focusing on stocks such as Pfizer, Merck & Company, and Roche Holding AG.
In another report released on March 1, J.P. Morgan also maintained a Hold rating on the stock with a $30.00 price target.
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Pfizer (PFE) Company Description:
Pfizer Inc. develops, manufactures and sells healthcare products, including innovative medicines and vaccines. Its key focus areas include oncology, inflammation & immunology, rare disease, vaccines and internal medicine. The company was founded by Charles Pfizer Sr. and Charles Erhart in 1849 and is headquartered in New York, NY.
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