Market Update (NYSE:PFE): Pfizer Commends The FDA Advisory Committee’s Vote To Approve Proposed Biosimilar Infliximab, The First Biosimilar Monoclonal Antibody Reviewed, For All Eligible Indications

[Business Wire] – Pfizer Inc. commends today’s recommendation by the United States Food and Drug Administration’s Arthritis Advisory Committee to approve the investigational biosimilar infliximab across all eligible indications by a vote of 21 to three. Read more on this. Pfizer Inc. (PFE) , with a current market cap of $179.65B, opened at $28.47. During the trading session, PFE traded between $28.34 to $29.20 with its 52-week range being $28.25 to $36.46. PFE shares are currently priced at 12.36x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s -6.28x earnings multiple. And for dividend hunters, the company pays shareholders $1.20 per share annually in dividends, yielding 4.13%. Consensus earnings for the current quarter by the 13 sell-side analysts covering the stock is an estimate of $0.55 per share, which would be $0.04 better than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $2.31, which would be a $0.11 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.00 Billion. If realized, that would be a 10.50% increase over the year-ago quarter. In terms of ratings, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral (Nov 25, 2015). Previously, Morgan Stanley upgraded PFE from Equal-Weight to Overweight. With the above information in mind, readers should note that the average price target is $39.44, which is 38.53% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Market Update: Pfizer Inc (NYSE:PFE) – Biosimilar drugs get boost as UK cost agency backs their use Company Update (NYSE:PFE): Philogen Announces Exercise of Options Within the License Agreement With Pfizer Inc. for the Development and Potential Commercialization of Multiple Antibody Drug Conjugates (ADCs) and Targeted Technologies Market Update (NYSE:PFE): Pfizer Invites Public To View And Listen To Webcast Of Pfizer Presentation At Healthcare Conference
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