Why Pfizer Stock Crushed the Market on Monday
Investors flocked to (NYSE: PFE) stock on Monday following some highly encouraging news about one of the company's pipeline drugs. The holy grail of pharmaceutical companies and biotechs is the development of a medication with blockbuster potential, and Pfizer seems to have one on its hands. As a result, the company's shares rocketed more than 5% higher on Monday against an essentially flat S 500 index.
A peer-reviewed study of Pfizer's investigational drug danuglipron found that the medication lowered both blood sugar and body weight after 16 weeks of use when compared to a placebo. That study was published in the influential JAMA Network medical journal that morning.
On average, the phase 2 clinical trial's volunteers who were administered either 80- or 120-milligram doses of the drug twice per day lost roughly 10 pounds of weight across the 16 weeks.
Source Fool.com
Pfizer Inc. Stock
With 30 Buy predictions and 4 Sell predictions Pfizer Inc. is one of the favorites of our community.
With a target price of 40 € there is a hugely positive potential of 51.8% for Pfizer Inc. compared to the current price of 26.35 €.
