Health and Healthcare

How Major Pharma Is Faring After the Brexit

Chris Lange

Published: July 3, 2016 7:38 am

Last Updated: January 13, 2020 6:07 am

The broad markets are recovering in the wake of the Brexit and it really appears to be one big head fake. We are also realizing that the Brexit was a great opportunity to buy into the markets and provided an attractive entry point.

Now the question is what was the best sector or industry to buy into?

Investors who are looking to capitalize on a bludgeoned—now recovering—financial sector might just be looking for a trade. Although those that are looking for a strong yield over time had their shot at utilities as well. Considering the pullback that we saw in major pharmaceuticals, this is an industry worth taking a closer look at.

24/7 Wall St. has picked some of the leading companies in this industry and tracked them since the Brexit. We have included a recent trading history, consensus analyst price target, and 52-week trading range.

Pfizer Inc. (NYSE: PFE) saw its stock jump up about 5% since the Brexit vote took place. Currently shares of Pfizer were last trading at $35.60, with a consensus analyst price target of $38.67 and a 52-week trading range of $28.25 to $36.46.

Merck & Co. (NYSE: MRK) had its shares climb 3.8% in the time since the Brexit. Shares of Merck were last trading at $57.98, with a consensus analyst price target of $61.45 and a 52-week trading range of $45.69 to $60.07.

Teva Pharmaceutical Industries Limited (NYSE: TEVA) watched its shares drop as low as $48.01 this week and then increase by 4.4% in this same period. Shares of Teva were last trading at $50.10, with a consensus analyst price target of $71.68 and a 52-week trading range of $48.01 to $72.31.

Bristol-Meyers Squibb Co. (NYSE: BMY) saw its stock jump 5% since the Brexit. Shares were last trading at $73.75, with a consensus analyst price target of $76.48 and a 52-week trading range of $51.82 to $75.12.

AbbVie Inc. (NYSE: ABBV) had its shares jump 4.8% in the time since the Brexit. Shares of AbbVie were last trading at $62.76, with a consensus analyst price target of $70.00 and a 52-week trading range of $45.45 to $71.60.