1. Pfizer Inc. (NYSE:PFE)
Number of Hedge Fund Holders: 81
Share Price as of the Close of March 3: $26.58
On March 2, Argus upgraded Pfizer Inc. (NYSE:PFE) to Buy from Hold. The firm set a $35 price target on the stock. Argus said it sees encouraging progress in the company’s GLP-1 pipeline, along with what it described as “robust” programs in oncology and hematology. The analyst said these developments increase confidence in Pfizer’s ability to grow both revenue and earnings in the period after 2028. Argus also pointed to the company’s accelerated research and development efforts, the successful launch of new products, and additional bolt-on business development initiatives expected beyond that timeframe.
Earlier, on February 24, Pfizer announced that the US Food and Drug Administration granted full approval to BRAFTOVI (encorafenib). The drug is used in combination with Erbitux (cetuximab) and fluorouracil-based chemotherapy to treat adults with metastatic colorectal cancer carrying a BRAF V600E mutation. The approval followed results from the Phase 3 BREAKWATER trial. The study showed improvements in both progression-free survival and overall survival for patients receiving the treatment.
BRAFTOVI had previously received accelerated approval in December 2024 based on objective response rate data. During the trial, the treatment combinations demonstrated safety profiles consistent with the known effects of the drugs. Researchers did not identify any new safety concerns. Some patients stopped treatment because of side effects, though the number of cases remained relatively limited. The BRAFTOVI combination therapy is also under regulatory review in Europe. It has already been approved in several other countries.
Pfizer Inc. (NYSE:PFE) operates as a research-based global biopharmaceutical company. The company focuses on discovering, developing, manufacturing, marketing, selling, and distributing biopharmaceutical products worldwide.
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