International Assets Investment Management LLC Trims Pfizer Inc. Stock Holdings

Pfizer Stock Price Forecast

International Assets Investment Management LLC reduced its stake in Pfizer Inc. (PFE:NYE) by 98.5% during the fourth quarter, as per the latest disclosure submitted to the Securities and Exchange Commission. The company held 966 shares of the biopharmaceutical firm’s stock after selling 65,238 shares in the quarter. The current value of International Assets Investment Management LLC’s holdings in Pfizer is $49,000, according to its most recent filing with the Securities and Exchange Commission.

Pfizer Inc. recently announced that it has partnered with Myovant Sciences to develop and commercialize relugolix, an oral hormone therapy. Under the agreement, Myovant will receive $650 million upfront, followed by additional milestone payments of up to $200 million, based on the success of the drug in certain indications. The companies will split profits and expenses for relugolix in the U.S. and Canada, while Myovant will have exclusive rights to develop and commercialize the drug outside these regions.

Relugolix is an investigational, once-daily, oral GnRH receptor antagonist that has been evaluated in clinical trials for the treatment of uterine fibroids, endometriosis, and advanced prostate cancer. The therapy works by inhibiting the secretion of luteinizing hormone and follicle-stimulating hormone, which are responsible for the production of estrogen and testosterone.

Pfizer’s partnership with Myovant for relugolix marks the latest effort by the pharmaceutical giant to expand its product portfolio through collaborations and acquisitions. In recent years, Pfizer has also made strategic acquisitions of companies like Array BioPharma and Hospira to strengthen its oncology and biosimilars portfolios, respectively. The company has also made several partnerships with other biotech and pharmaceutical companies to develop and commercialize drugs in various therapeutic areas.

Investors have responded positively to the announcement, with Pfizer’s shares rising by more than 1% following the news. As of the latest filing with the Securities and Exchange Commission, Pfizer is also one of the largest institutional investors in its own stock, owning over 493 million shares valued at $21.6 billion, or 7.4% of the company’s outstanding shares.

 

Pfizer Stock Price Forecast:

Based on the Pfizer stock price forecast from 21 analysts, the average analyst target price for Pfizer Inc is USD 49.94 over the next 12 months. Pfizer Inc’s average analyst rating is Buy.

Stock Target Advisor’s own stock analysis of Pfizer stock price forecast is Bullish, which is based on 12 positive signals and 3 negative signals. At the last closing, Pfizer Inc’s stock price was USD 41.55. Pfizer Inc’s stock price has changed by +3.23% over the past week, +0.97% over the past month and -18.91% over the last year.

 

Company Profile:

Pfizer Inc. discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. The company has collaboration agreements with Bristol-Myers Squibb Company; Astellas Pharma US, Inc.; Myovant Sciences Ltd.; Merck KGaA; Valneva SE; BioNTech SE; and Arvinas, Inc. Pfizer Inc. was founded in 1849 and is headquartered in New York, New York.

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