How Major Pharma Is Faring After the Brexit

By Chris Lange Updated Jan 13, 6:07AM EST · Published Jul 3, 7:38AM EDT

Follow 24/7 Wall St. on Google

This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

How Major Pharma Is Faring After the Brexit — © Thinkstock

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.

[nativounit]

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.

About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.