Cantor Fitzgerald analyst Louise Chen maintained a Buy rating on Pfizer (NYSE: PFE) today and set a price target of $45. The company’s shares opened today at $42.81.
Chen observed:
“. Today (10/11), we hosted a call with two experienced oncologists to debate the expectations for the PALLAS and PENELOPE-B. The call and our prior due diligence support our view that the use of Ibrance in the earlier-stage setting could significantly accelerate sales of the drug. On our call, both physicians agreed that current Ibrance usage still has room to expand in the approved indications as well as in the earlier-stage setting. Below we highlight the key takeaways from our call. See our original deep dive note for more details. Please contact your Cantor Fitzgerald representative for replay information.”
According to TipRanks.com, Chen is a 4-star analyst with an average return of 8.3% and a 40.9% 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 $46.91, which is a 9.6% upside from current levels. In a report issued on October 1, J.P. Morgan also maintained a Buy rating on the stock with a $46 price target.
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Pfizer’s market cap is currently $260.9B and has a P/E ratio of 11.48. The company has a Price to Book ratio of 3.60.
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