What’s Going On With Pfizer Stock Today?

Feb 2, 2024

Pfizer Inc (NYSE:PFE) shares have a session volume of 1.218 million, with an average volume (100 day) of 44.467 million.

Tuesday, Pfizer reported a Q4 adjusted EPS of $0.10 versus a consensus loss of $(0.22). The company reported fiscal year 2023 adjusted EPS of $1.84, down 72% year-on-year, significantly impacted by one-time events.

The company reported a 41% decline in Q4 sales to $14.25 billion, down from $24.29 billion a year ago, almost in line with the consensus of $14.21 billion.

Fourth-quarter 2023 R&D Expenses decreased 22% Y/Y operationally, driven primarily by lower compensation-related expenses and lower spending in vaccine programs and ongoing rare disease programs.

For 2024, Pfizer expects R&D expenses of $11 billion-$12 billion.

The company discontinued three programs, including:

  • Fosmanogepix (APX001) is a Phase 2 asset for invasive fungal infections. In November, Basilea Pharmaceutica Ltd acquired the rights to fosmanogepix for an upfront payment of $37 million and potential commercial milestone payments of up to $110 million.

  • Basilea assumed all rights and obligations from previous agreements, comprising potential development, regulatory, and commercial milestone payments of up to $396 million.

  • PF-07062119 is a biologic oncologic asset being studied in a Phase 1 trial for advanced/metastatic gastrointestinal cancer.

  • PF-07260437, a biologic Phase 1 asset for metastatic breast cancer.

Pfizer’s Stock Prediction for 2024

Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.

Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Pfizer, an investor could make an assessment about a stock’s long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Pfizer, the 200-day moving average sits at $33.77, according to Benzinga Pro, which is above the current price of $27.16. For more on charts and trend lines, see a description here.

Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.

Price Action: PFE shares are up 0.37% at $27.18 during the premarket session on the last check Thursday.

Photo via Shutterstock

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This article What’s Going On With Pfizer Stock Today? originally appeared on Benzinga.com

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