3 Reasons to Buy Pfizer Stock Now

(NYSE: PFE) continues to lag the market. Over the past few years, the company has generally reported declining revenue and profits, resulting in a substantial decline in market value. The drugmaker has been looking to turn things around, but so far, it's had little success.

Could this be the year Pfizer finally starts to bounce back? Although the pharmaceutical giant's shares haven't performed well this year, several factors make the stock look attractive right now. Let's consider three.

Pfizer has tried to launch newer drugs to boost top-line growth. Though it has earned approval for several medicines over the past few years, they aren't generating the kinds of sales it was looking for from its newer products, at least not yet. The drugmaker is still looking for its next gem, and it may have found it with its latest acquisition. Pfizer recently announced that it was acquiring Metsera (NASDAQ: MTSR), a smaller biotech company working on weight management medicines, for approximately $5 billion in cash.

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Source Fool.com