Pfizer

Pfizer (PFE) reported an unexpected fourth-quarter profit on Tuesday after the US government returned fewer doses of the pharmaceutical giant’s COVID-19 oral antiviral pill, Paxlovid, than previously expected. The company posted adjusted earnings of $0.10 a share for the December quarter, plummeting from $1.14 the year before. The consensus on Capital IQ was for a loss of $0.18. Revenue tumbled 41% to $14.25 billion, falling short of the Street’s view for $14.4 billion. Revenue from primary care, which includes the company’s Comirnaty COVID-19 vaccine and Paxlovid, slumped 60% to $6.99 billion. Paxlovid global revenue plunged by $5 billion due to a non-cash revenue reversal of $3.5 billion, related to the return of 6.5 million treatment courses from the government. The company estimated in October for a non-cash revenue reversal of $4.2 billion in the fourth quarter from the return of 7.9 million courses of the pill. Comirnaty global sales tumbled […]

By Josh Nathan-Kazis Pfizer is set to report fourth-quarter earnings on Tuesday morning, after a year of big deals and disappointing stock performance. Analysts expect the company to report a loss of $0.18 a share for the quarter, and revenue of $14.4 billion, according to FactSet. Pfizer issued a reset in December, laying out guidance for 2024 that was well below what analysts had expected, and highlighting a $4 billion cost savings program. It said it expects adjusted diluted earnings of between $2.05 and $2.25 this year, and revenue between $58.5 billion and $61.5 billion. The consensus estimate is $2.27 per share. Pfizer shares are down 4.9% so far this year, and 37.1% over the past 12 months. The company made a string of major deals in recent years, notably the $43 billion acquisition of the cancer-focused biotech Seagen, and the $11 billion acquisition of Biohaven Pharmaceuticals in 2022. Those

Pfizer (NYSE:PFE) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/09/2024 51.52% Cantor Fitzgerald → $45 Reiterates Overweight → Overweight 01/04/2024 7.74% TD Cowen → $32 Downgrades Outperform → Market Perform 12/14/2023 21.21% Truist Securities $42 → $36 Maintains Buy 12/14/2023 -9.09% UBS $34 → $27 Maintains Neutral 12/14/2023 -5.72% Barclays $34 → $28 Maintains Equal-Weight 12/04/2023 41.41% Truist Securities → $42 Reiterates Buy → Buy 11/20/2023 152.53% Cantor Fitzgerald → $75 Reiterates Overweight → Overweight 11/01/2023 14.48% Barclays $35 → $34 Maintains Equal-Weight 11/01/2023 24.58% Morgan Stanley $39 → $37 Maintains Equal-Weight 10/20/2023 14.48% UBS $36 → $34 Assumes Neutral → Neutral 10/17/2023 41.41% Truist Securities $62 → $42 Maintains Buy 10/17/2023 31.31% Morgan Stanley $40 → $39 Maintains Equal-Weight 10/17/2023 17.85% Wells Fargo $39 → $35 Maintains Equal-Weight 10/16/2023 11.11% BMO Capital $44 → $33 Maintains Outperform 10/16/2023 17.85% Citigroup

Pfizer (PFE) said Tuesday it expects to close its planned acquisition of Seagen (SGEN) on Thursday as it has received all required regulatory approvals. The company said it plans to donate the royalty rights from US sales of Bavencio to the American Association for Cancer Research in a bid to address antitrust concerns raised by the US Federal Trade Commission. The pharmaceutical company said it will adapt its commercial organization to integrate Seagen, effective Jan. 1. This involves forming the Pfizer Oncology Division, which will integrate certain oncology commercial and R&D functions from both companies and be led by Chris Boshoff as chief oncology officer. Pfizer said it will split its non-oncology commercial operations into two divisions: Pfizer US Commercial, led by Aamir Malik as chief US commercial officer, and Pfizer International Commercial, headed by Alexandre de Germay as chief international commercial officer. Germay most recently served as CEO of

Pfizer CFO Says Share Repurchases Are The Lowest Priority At This Time.

Pfizer CFO Says Co Is Close To Presenting Data On Its Oral Weight Loss Drug As Previously Expected, Likely By The End Of The Year.

Pfizer Inc. (NYSE:PFE) Truist Securities BioPharma Symposium November 9, 2023 12:35 PM ET Company Participants Aamir Malik – Executive Vice President and Chief Business Innovation Officer Conference Call Participants Robyn Karnauskas – Truist Securities Robyn Karnauskas Good afternoon. Thanks so much for joining us. I’m Robyn Karnauskas, one of the biotech analysts at Truist. I’m so excited to have for a keynote this afternoon from Pfizer, Aamir Malik, the Chief Business Innovation Officer and Executive Vice President. So thank you very much for taking the time and doing this talk instead of doing more important things. I really appreciate it. Aamir Malik It’s nice to be with you. Thanks for having me. Question-and-Answer Session Q – Robyn Karnauskas So I guess the first question is, given your role as the Chief Business Innovation Officer, how do you see Pfizer’s approach to innovation compared to other pharma companies? And how does

Morgan Stanley analyst Terence Flynn maintains Pfizer (NYSE:PFE) with a Equal-Weight and lowers the price target from $39 to $37.

Pfizer Reports Third-Quarter 2023 Results — Third-Quarter 2023 Revenues of $13.2 Billion — Expected Decline in Paxlovid and Comirnaty(1) Revenues Drove 41% Operational Decrease in Third-Quarter 2023 Revenues — Revenues for Pfizer’s Non-COVID Products Grew 10% Operationally — Third-Quarter 2023 Reported(2) Diluted Loss Per Share (LPS) of $(0.42) and Adjusted(3) Diluted LPS of $(0.17), Significantly Impacted by $5.6 Billion of Non-Cash Inventory Write-Offs and Other Charges, Which Unfavorably Impacted Reported(2) and Adjusted(3) Diluted LPS by $0.84 — Reaffirms Full-Year 2023 Guidance(4) Provided on October 13, 2023, of Revenues of $58.0 to $61.0 Billion and Adjusted(3) Diluted EPS of $1.45 to $1.65, and Provides All Guidance Components — Reaffirms Full-Year 2023 Non-COVID Operational Revenue Growth Expectation of 6% to 8% vs. 2022 — Successful Execution of New Product and Indication Launches, including Abrysvo (Older Adult) and Prevnar 20 (Pediatric), and In-Line Product Growth Contribute to Strong Non-COVID Operational Revenue Growth —

Pfizer Q3 Adj. Per-share Loss 17 Cents Vs. EPS $1.78 a Year Ago, Misses the FactSet Per-share Loss Consensus of 8 Cents。

Pfizer: Current Financial Guidance Doesn’t Anticipate Any Share Repurchases in 2023

Pfizer (NYSE:PFE) reported quarterly losses of $(0.17) per share which beat the analyst consensus estimate of $(0.32) by 46.88 percent. This is a 109.55 percent decrease over earnings of $1.78 per share from the same period last year. The company reported quarterly sales of $13.23 billion which beat the analyst consensus estimate of $12.72 billion by 4.03 percent. This is a 41.55 percent decrease over sales of $22.64 billion the same period last year.