UBS lowers Pfizer's price target to $24, citing concerns about revenue and earnings overestimates.

From Financial Modeling Prep: 2025-04-08 16:11:00

UBS lowered Pfizer’s price target to $24 from $28, maintaining a Neutral rating ahead of Q1 2025 earnings. Concerns include impact of Inflation Reduction Act on revenue model and overly optimistic consensus estimates for key products like Paxlovid, Comirnaty, and Abrysvo. Shares fell over 3% today.

High-cost drugs like Ibrance, Xtandi, Vyndaquel, and Xeljanz face hits due to Medicare’s Part D program, while lower-priced products like Abrysvo and Eliquis benefit. UBS forecasts Paxlovid sales at $566 million, below consensus of $1.6 billion, and projects total revenue and EPS 4.8% and 5.6% below consensus, respectively.

UBS notes danuglipron as a wildcard, Pfizer’s experimental weight-loss drug, which could shift sentiment if positive results are released alongside earnings. UBS remains cautious, awaiting signs of COVID-related revenue stabilization, growth in newer assets, and pipeline execution before turning more bullish on the stock.



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