Despite Wall Street's continued conservatism regarding its business prospects, Pfizer beat analysts' expectations for the second quarter of 2024. In addition to the raised full-year 2024 guidance, the company's remaining share repurchase authorization is $3.3 billion. Pfizer's oncology franchise sales reached $3.96 billion in the second quarter of 2024, up 25.6% year-on-year.
Monday, BioNTech SE BNTX reported deeper losses in the second quarter of 2024, with an EPS loss of $(3.62) or (3.36) euros, missing the consensus of (1.89) euros and higher than (79) cents in the second quarter of 2023.
Eli Lilly is a giant in the world of weight loss drugs, generating billions of dollars in revenue. Rival big pharma player Pfizer aims to get in on this major market.
Pfizer (PFE) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
Investors interested in stocks from the Large Cap Pharmaceuticals sector have probably already heard of Pfizer (PFE) and Novo Nordisk (NVO). But which of these two stocks offers value investors a better bang for their buck right now?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Dividend stocks to watch in the stock market today.
Pfizer beat pharma records when its annual revenue soared past $100 billion in 2022, thanks to its coronavirus vaccine and treatment. As demand for these products slowed, revenue dropped -- so the big pharma made a billion-dollar bet in another high-growth market.
I initiated a "Buy" rating on Pfizer stock in February 2024, and since then, it's aging well. I believe the recovery rally in PFE stock may be just the beginning. The cost management initiatives seem to be progressing faster and more efficiently than one would have thought a few quarters ago - the solid Q2 numbers show that. Wall Street analysts are still giving very modest EPS growth projections for the next few years, creating a ground for possible EPS beating in the next quarters.
Pfizer's management is committed to maintaining and growing the dividend. The big drugmaker's dividend should be even more secure thanks to coming bottom-line improvements.
CEO Albert Bourla doesn't see the company making a big acquisition for a GLP-1 drugmaker. Pfizer has close to $70 billion in long-term debt on its books.
Pfizer's earnings soared earlier in the pandemic, thanks to its blockbuster coronavirus vaccine and treatment. Since, revenue has dropped -- but Pfizer has made major efforts to return to growth.