Analyst Asad Haider from Goldman Sachs maintained a Hold rating on Pfizer (PFE – Research Report) and keeping the price target at $27.00.
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Asad Haider has given his Hold rating due to a combination of factors surrounding Pfizer’s recent strategic moves. The agreement with 3SBio for the SSGJ-707 antibody represents a significant step into the promising field of next-generation oncology treatments. While this move could potentially redefine the standard of care in oncology, the competitive landscape remains a concern, and differentiation will be crucial as the market evolves.
Additionally, the deal complements Pfizer’s existing collaboration with SMMT, which involves evaluating a similar bispecific antibody in combination with Pfizer’s other cancer treatments. This provides Pfizer with some exposure to potential upsides in this therapeutic class. Despite these promising developments, the inherent risks and the need for further data to confirm efficacy and safety contribute to the Hold rating, as investors are advised to consider these factors in their decision-making process.
In another report released today, Citi also maintained a Hold rating on the stock with a $25.00 price target.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFE in relation to earlier this year.
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