Pfizer ( (PFE) ) has fallen by -9.35%. Read on to learn why.
Pfizer’s stock has experienced a significant decline of 9.35% over the past week, reflecting a challenging period for the pharmaceutical giant. The drop in stock price is attributed to several factors, including ongoing investigations into the company’s alleged delay in releasing positive COVID-19 vaccine trial results before the 2020 election. This investigation has raised concerns about potential legal and reputational implications, which could further impact Pfizer’s stock performance.
In addition to the investigation, Pfizer is grappling with the expiration of patents for key products like Eliquis and Ibrance, which are expected to face increased competition from generic alternatives. This situation, often referred to as a ‘patent cliff,’ poses a significant threat to Pfizer’s revenue streams. Furthermore, the recent resignation of a key FDA official has introduced uncertainty into the regulatory environment, potentially affecting the approval process for Pfizer’s vaccine candidates.
Despite these challenges, Pfizer maintains a Moderate Buy rating from analysts, with a price target suggesting a potential upside. The company’s financial performance remains robust, with a healthy dividend yield and a diversified portfolio that includes promising new products. However, the combination of regulatory headwinds, competitive pressures, and ongoing investigations makes Pfizer’s stock a cautious hold for investors in the near term.