CICC Initiates Coverage of Pfizer Inc. (PFE) With an Outperform Rating

Pfizer Inc. (NYSE:PFE) is one of the best cheap stocks for beginners to invest in. CICC initiated coverage of Pfizer Inc. (NYSE:PFE) with an Outperform rating on April 16, setting a price target of $33. In a separate development, Pfizer Inc. (NYSE:PFE) announced on March 23 topline results from the Phase 3 VALOR “Vaccine Against Lyme for Outdoor Recreationists” clinical trial of its investigational 6-valent OspA-based Lyme disease vaccine candidate PF-07307405. The company stated that the vaccine candidate PF-07307405 (LB6V) exhibited over 70% efficacy in preventing Lyme disease in individuals aged five years and above, adding that the investigational vaccine candidate was well-tolerated with no safety concerns identified at the time of analysis. Pfizer Inc. (NYSE:PFE) further stated that the overall results bolster confidence in the vaccine candidate and that the company is planning submissions to regulatory authorities.

Annaliesa Anderson, Ph.D., Senior Vice President and Chief Vaccines Officer, Pfizer Inc. (NYSE:PFE), stated that no vaccine is currently available for Lyme disease, and the efficacy shown in the VALOR study of over  70% is “highly encouraging”, creating confidence in the vaccine’s potential to protect against the disease.

Pfizer Inc. (NYSE:PFE) is a global biopharmaceutical company that manufactures, develops, markets, and sells biopharmaceutical products worldwide. It advances wellness, prevention, treatment, and cures in developing and emerging markets, and is also involved in developing immunotherapies that help the immune system to recognise and attack cancer cells.

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