#3 - Pfizer (NYSE:PFE)
Pfizer Inc. (NYSE: PFE) is another undervalued stock in the biotechnology sector. Pfizer stock soared in 2020 and 2021 as the company generated revenue from its Covid-19 vaccine and its Paxlovid therapeutic. Revenue from Covid-related sales peaked at around $100 million in 2022.
Even with those revenues declining, Pfizer is forecasting revenue of around $68 billion in 2023 and 2024. That’s significantly higher than the revenue the company was generating five years ago. But that’s not reflected in the stock price.
Pfizer has approximately 19 pipeline candidates that could receive FDA approval in the next 18 months. And the company recently bought a stake in Caribou Biosciences, Inc. (NASDAQ: CRBU) a gene-editing company. Pfizer will be helping to get Caribou’s pipeline candidates through the clinical trial stage.
The bottom line is that many investors have Pfizer on their personal “do not buy” list. That’s fair, but simply from the standpoint of looking for bounce-back stock candidates, it’s tough to argue with the opportunity in PFE stock as it trades for just 7x earnings and has a dividend yield of over 4.5%.
About Pfizer
Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.
Read More - Current Price
- $26.36
- Consensus Rating
- Hold
- Ratings Breakdown
- 7 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $32.14 (21.9% Upside)
