Buy Rating for Pfizer: Promising Synergy in Oncology with PD-L1 Targeting ADC

In a report released yesterday, Akash Tewari from Jefferies maintained a Buy rating on Pfizer (PFE – Research Report), with a price target of $33.00.

Akash Tewari has given his Buy rating due to a combination of factors surrounding Pfizer’s recent data on its PD-L1 targeting ADC, PDL1V, in patients with relapsed/refractory metastatic NSCLC. Although the monotherapy efficacy data of PDL1V does not significantly stand out compared to other ADCs in the same treatment space, the safety and tolerability profile is competitive, with serious adverse events and treatment-related discontinuations being relatively low.
Furthermore, Tewari highlights the potential for synergy between MMAE-based ADCs and PD-(L)1 targeting agents across various oncology indications. This potential synergy could enhance the effectiveness of combination therapies, making Pfizer’s strategy promising. The historical data suggests that ADCs with MMAE payloads may offer better synergy in combination with PD-(L)1 agents compared to other payloads, which supports the Buy rating for Pfizer’s stock.

In another report released on May 30, DBS also maintained a Buy rating on the stock with a $30.00 price target.