Starboard takes a $1 billion stake in $PFE. It's our Chart Of The Day.
Pharmaceutical giant Pfizer (PFE) is seeing stock gains in Monday's pre-market trading after activist investor Starboard Value took up a $1 billion stake, according to a Wall Street Journal report. Yahoo Finance senior health reporter Anjalee Khemlani covers Starboard's reported investment in Pfizer as the pharma company seeks to reposition itself coming out of the COVID-19 pandemic.
Pfizer (PFE, Financial) stock saw a notable increase of 2.94% attributed to a reported $1 billion investment by activist investor Starboard Value. This strategic move is intended to breathe new life into Pfizer, as the stock has experienced a substantial decrease from its highs during the pandemic era.
Can Starboard Value and former CEO Ian Read save Pfizer stock?
Pfizer stock popped Monday on a report activist investor Starboard Value took a roughly $1 billion stake in the struggling drugmaker.
Pfizer (PFE) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Media reports indicate that activist investor Starboard Value has acquired approximately $1 billion worth of shares in Pfizer (PFE, Financial). Following this news, Pfizer's stock rose nearly 3% in pre-market trading.
Pfizer Inc. NYSE: PFE hit its peak during the COVID-19 pandemic when its vaccines developed with BioNTech SE NASDAQ: BNTX sent shares surging up to $61.71 in December 2021, driven by its COVID-19 vaccine sales. Since then, it's been downhill for the medical sector giant as COVID revenues dried up with the pandemic in the rearview mirror.
Paul Argenti, Dartmouth Tuck School of Business professor, joins 'Squawk Box' to discuss news of activist investor Starboard Value amassing a roughly $1 billion stake in drugmaker Pfizer, whether Pfizer makes sense as an activist target, and more.
Pfizer Inc. PFE may have been a hero in the COVID-19 vaccine race, but its stock is stuck in the slow lane. Down nearly 14% over the last year, the pharma giant's shares have struggled as demand for its pandemic-related treatments has fizzled out.
Shares of Pfizer (PFE) are rising in premarket trading Monday following a report that activist investor Starboard Value has taken a roughly $1 billion stake in the struggling drugmaker.
Pfizer on Monday won a bid in a London court to invalidate two of GSK's patents relating to a respiratory syncytial virus (RSV) vaccine.