What's Going On With Pfizer Shares Wednesday?
Portfolio Pulse from Vaishali Prayag
Pfizer Inc. (NYSE:PFE) is experiencing notable stock movement due to its ongoing open-label extension (OLE) study for etrasimod in ulcerative colitis patients. The study aims to evaluate safety and efficacy over up to eight years. Despite a 15% decrease in patient enrollment, Cantor Fitzgerald maintains an 'Overweight' rating with a $45 price target. Pfizer shares were down 2.09% at $27.41.
June 26, 2024 | 7:38 pm
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Pfizer's stock is reacting to its ongoing OLE study for etrasimod in ulcerative colitis patients. Despite a 15% decrease in patient enrollment, Cantor Fitzgerald maintains an 'Overweight' rating with a $45 price target. Shares are down 2.09% at $27.41.
The decrease in patient enrollment and the revision of the primary completion date to 2026 are likely contributing to the negative stock movement. However, the 'Overweight' rating and $45 price target from Cantor Fitzgerald provide some positive outlook.
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