In a report released yesterday, Louise Chen from Cantor Fitzgerald maintained a Buy rating on Pfizer (NYSE: PFE), with a price target of $45. The company’s shares closed yesterday at $42.85, close to its 52-week high of $42.92.
Chen said:
“. After speaking with five oncologists, we see two growth drivers for Ibrance that represent meaningful upside to consensus sales and our numbers. These opportunities include: OUS expansion and the use of Ibrance in the earlier-stage adjuvant setting. Our discussions focused on answering the following questions: (1) What is the remaining growth/market penetration opportunity for CDK 4/6s in the currently approved indications?; (2) How much share erosion can we expect from other CDK 4/6s such as How high is physician conviction for PALLAS and How much will positive outcomes increase usage? Below we highlight our key takeaways.”
According to TipRanks.com, Chen has currently no stars on a ranking scale of 0-5 stars, with an average return of -7.1% and a 40.0% success rate. Chen covers the Healthcare sector, focusing on stocks such as Bausch Health Companies Inc, Aridis Pharmaceuticals Inc, and Melinta Therapeutics Inc.
Currently, the analyst consensus on Pfizer is a Moderate Buy with an average price target of $47, representing a 9.7% upside. In a report issued on September 6, Cowen & Co. also maintained a Buy rating on the stock with a $48 price target.
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Pfizer’s market cap is currently $248.6B and has a P/E ratio of 11.49. The company has a Price to Book ratio of 3.60.
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