Coming up on 24/7 Wall St.’s biopharma calendar, Pfizer has an advisory meeting with the FDA’s Vaccines and Related Biological Products Advisory Committee on November 7. The purpose of this meeting is to discuss and make recommendations on the clinical development plan for Pfizer’s investigational Staphylococcus aureus vaccine intended for presurgical prophylaxis in elective orthopedic surgical populations.
During this quarter, Pfizer along with Astellas posted solid results from its late-stage Prosper trial of Xtandi (enzalutamide). Specifically, the Phase 3 trial was evaluating Xtandi plus androgen deprivation therapy versus androgen deprivation therapy alone in patients with non-metastatic castration-resistant prostate cancer. The trial met its primary endpoint of improved metastasis-free survival.
Pfizer’s most recent quarterly results were somewhat muted despite beating estimates. Although, management is focused on the longer term and is fairly optimistic on where this pharma giant can go from here.
Excluding Monday’s move, Pfizer has underperformed the broad markets, with the stock up nearly 10% year to date and over the past 52 weeks.
Ahead of the earnings report a few analysts weighed in on Pfizer:
- Jefferies has a Neutral rating with a $39 price target.
- BMO Capital Markets has a Buy rating with a $39 price target.
- Deutsche Bank has a Buy rating and a $38 price target.
- Barclays has a Buy rating and a $38 price target.
- Morgan Stanley has an Overweight rating with a $39 target.
- Sanford Bernstein has a Buy rating with a $39 price target.
Shares of Pfizer were last seen down less than 1% at $35.35, with a consensus analyst price target of $38.35 and a 52-week range of $29.83 to $36.78.
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