Pfizer Inc. (PFE) Announces Results from Phase 3 BASIS Study

Pfizer Inc. (NYSE:PFE) is one of the Cheap NYSE Stocks to Buy Now. On December 6, Pfizer Inc. (NYSE: PFE) announced results from its Phase 3 BASIS Study, which evaluates HYMPAVZI for people living with hemophilia A or B with inhibitors.

The study included 48 adults and adolescents with severe hemophilia A or B. Patients treated with HYMPAVZI showed a 93% reduction in the annualized bleeding rate (ABR) compared to OD therapy. Management noted that HYMPAVZI is administered only once a week through subcutaneous injection that requires minimal preparation and no lab monitoring. Moreover, the safety profile of the drug was also well tolerated, with mostly mild or moderate adverse events. Pfizer Inc. (NYSE:PFE) has submitted the data to the FDA and the European Medicines Agency for approval.

​On the other hand, Wall Street maintains a cautious outlook on the stock, with analysts’ 12-month average price target of $28.50 reflecting 9.49% upside from the current level. Recently, on December 2, Courtney Breen from Bernstein reiterated a Hold rating on the stock without disclosing any price targets. On the same day, Geoff Meacham from Citi initiated Pfizer Inc. (NYSE:PFE) with a Hold rating and a $26 price target.  Meacham noted the loss of the upcoming exclusivity period and challenges from Medicare to be the leading reason behind the cautious outlook.

​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.

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Disclosure: None. This article is originally published at Insider Monkey.