Pfizer (PFE, Financial) has decided to halt the development of its oral GLP-1 drug candidate, Danuglipron, following a comprehensive assessment of the available data. This decision comes as investor expectations for this drug were reportedly modest. Despite the discontinuation, Pfizer's stock is likely to experience limited impact due to its current attractive dividend yield, which exceeds 7%, potentially offering some stability to the shares.
Morgan Stanley has maintained its neutral stance on Pfizer, keeping an Equal Weight rating. The firm has set a price target of $31 per share, reflecting their analysis of the company's overall market positioning and financial outlook. The decision to discontinue Danuglipron seems aligned with the market's subdued expectations for the drug, indicating a strategic focus on other areas within Pfizer's pipeline.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Pfizer Inc (PFE, Financial) is $30.08 with a high estimate of $41.43 and a low estimate of $23.00. The average target implies an upside of 36.40% from the current price of $22.05. More detailed estimate data can be found on the Pfizer Inc (PFE) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Pfizer Inc's (PFE, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Pfizer Inc (PFE, Financial) in one year is $28.63, suggesting a upside of 29.84% from the current price of $22.0501. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Pfizer Inc (PFE) Summary page.
