Why Pfizer Inc. (PFE) is One of the Best Affordable Stocks Under $30

Pfizer Inc. (NYSE:PFE) is one of the best affordable stocks under $30. Pfizer Inc. (NYSE:PFE) announced on January 10 positive results from Cohort 3, which is a separate randomized cohort of the pivotal BREAKWATER trial, evaluating BRAFTOVI® in combination with cetuximab and FOLFIRI in patients with previously untreated metastatic colorectal cancer with a BRAF V600E mutation. The company reported that its BRAFTOVI® regimen with additional chemotherapy backbone managed to increase response rates for certain patients with metastatic colorectal cancer, with the Cohort 3 analysis from the BREAKWATER study showing an objective response rate of 64% with BRAFTOVI plus cetuximab and FOLFIRI in comparison to 39% with standard-of-care treatment FOLFIRI with or without bevacizumab.

UBS Likes Pfizer’s MTSR Obesity Deal but Stays Neutral on PFE

According to Pfizer Inc. (NYSE:PFE), the BREAKWATER study shows statistically significant and clinically meaningful results, highlighting potential flexibility in the chemotherapy backbone for patients with BRAF V600E-mutant metastatic colorectal cancer.

In a separate development, Pfizer Inc. (NYSE:PFE) received a rating update from Berenberg Bank on January 7, which reaffirmed a Hold rating on the stock with a $25 price target. In addition, UBS assumed coverage of Pfizer Inc. (NYSE:PFE) on January 6 with a Neutral rating and set a $25 price target, citing a backdrop of continued revenue uncertainty with around $15 billion to $20 billion in revenues coming from significant drugs losing patent exclusivity over the upcoming three years. UBS clarified that while it is positive on the recent MTSR obesity deal, more is required from Pfizer Inc. (NYSE:PFE) to offset the 2028 LOE risk.

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.

While we acknowledge the potential of PFE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PFE and that has 100x upside potential, check out our report about this cheapest AI stock.

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