Pfizer raised its full-year profit and revenue forecasts after demand for cancer drug Padcev and blood thinner Eliquis helped deliver higher-than-expected third-quarter results. Analysts focused on pipeline execution and late-stage progress as key to replacing revenue lost to patent expirations.
Pfizer raised its full-year profit and revenue forecasts on Tuesday as demand for cancer drug Padcev and blood thinner Eliquis helped it deliver higher-than-expected third-quarter results.
Morgan Stanley said pipeline execution is key to replacing revenue lost from upcoming patent expirations. Citigroup said it would want better visibility beyond the 2027-2029 patent-expiry period and further late-stage pipeline progress before chasing the stock, while remaining confident in Pfizer's dividend.
Morningstar saw potential for Pfizer to stand out in the obesity market with a once-monthly treatment option, with success depending on tolerability. Jefferies said Pfizer's plans for an all-oral treatment portfolio for hormone receptor-positive breast cancer could be important as Ibrance approaches loss of exclusivity. Thirty analysts rate Pfizer “hold” on average, with a median price target of $29.
