Ken Griffin's Citadel continues to add to its position in Pfizer.
Pfizer (PFE) Chief Executive Officer (CEO) Albert Bourla reportedly is planning to meet with Starboard Value after the activist investor took a $1 billion stake in the struggling drugmaker.
Pfizer stock (NYSE: PFE) currently trades at $29 per share, 45% below its peak level of $54 seen in December 2021. In contrast, Merck stock is up 54% over this period.
Starboard will look to turn around the struggling pharma company.
Activists appear to be calling a bottom on the two stocks.
In the closing of the recent trading day, Pfizer (PFE) stood at $29.18, denoting a -0.07% change from the preceding trading day.
Pfizer CEO Albert Bourla plans to meet activist investor Starboard Value, the Financial Times reported on Tuesday, citing people familiar with the matter.
Pfizer's troubles may finally be coming to a head. Meanwhile, Hims & Hers is joining S&P SmallCap 600.
PFE obtains $1 billion from activist investor Starboard Value. Stock gains on hopes of a plausible turnaround of the struggling pharma giant.
Pfizer's (PFE, Financial) stock experienced a boost on Monday, surging by 3 %, following the news that activist investor Starboard Value has acquired a substantial stake in the pharmaceutical giant. The investment, valued at approximately $1 billion, could regain investor confidence in Pfizer.
Pfizer's (PFE, Financial) stock saw an uptick after reports emerged that activist investor Starboard Value has invested $1 billion in the pharmaceutical giant. This development was positively received not only by equity investors but also by bondholders, as evidenced by a narrowing spread on the company's outstanding bonds.
Pfizer Inc.'s stock gained Monday after a report that activist investor Starboard Value has invested $1 billion in the drug company. Bondholders seem to like the news too.