#3 - Pfizer (NYSE:PFE)
Pfizer Inc. (NYSE: PFE) does not have a weight loss drug that has been approved by the FDA. Still, the company is a company to watch in this space.
In December 2023, Pfizer pulled its twice-daily obesity pill, danuglipron, on concerns of too many side effects. However, Pfizer remains optimistic it may be able to get danuglipron approved as a once daily pill. Industry analysts believe that a weight loss drug in pill form may be a game changer for Pfizer since Mounjaro and Wegovy both require injections.
Another reason to own PFE stock right now is that it is historically undervalued. At just over $28 per share as of December 26, 2023, the stock is just above its 52-week high. It trades at a forward price-to-earnings (P/E) ratio of around 18x.
In addition to a potential weight loss drug, the company has over a dozen drugs that could get approval in the next 18 months. And while you wait for those approvals, the company pays an attractive dividend that currently has a 5.77% yield.
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
- $25.06
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 8 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $32.92 (31.4% Upside)
