Pfizer stock was trading at $45.34 as of 10:26 AM EDT.
On Monday, Zentalis Pharmaceuticals (NASDAQ:ZNTL) announced that it intended to begin the first study for its cancer therapeutic candidate ZN-c3 as part of its partnership with Pfizer (NYSE:PFE).
The study is part of a deal between the two companies that have already been made public, along with the New York-based pharmaceutical giant’s $25 million investment in Zentalis.
The BEACON regimen, which combines ZN-c3 with cetuximab and encorafenib to treat patients with metastatic colorectal cancer who have the BRAF V600E mutation, will be launched by the firms (mCRC). Zentalis anticipates beginning patient registration in the first quarter of 2023.
ZNTL rose 3% to $23 in premarket trading on October 24.
Pfizer Stock Analyzed
Pfizer Inc. (NYSE:PFE), one of the largest research-based pharmaceutical companies in the world, was one of the first to work on inflammation, oncology, vaccines, and rare disorders. The business has shown that it can create value for its shareholders by growing on its own and making smart purchases. Pfizer is in a good position to keep doing well financially because it has a strong pipeline of potential new drugs and stays focused on ways to cut costs.
As of October 21, Pfizer Inc. (NYSE:PFE) was trading at an attractive discount to investors with a PE multiple of 8x and a forward dividend yield of 3.63%. Pfizer stock is rated highly among the most undervalued stocks to buy right now. Free cash flows for Pfizer Inc. (NYSE:PFE) are $28.44 billion.
David Risinger, an analyst at SVB Securities, kept his Market Perform rating for Pfizer Inc. (NYSE:PFE), but he dropped his price target from $53 to $48. On October 12, Barclays analyst Carter Gould cut Pfizer Inc.’s (NYSE:PFE) price target from $50 to $44, but he kept the stock’s Equal Weight rating.
At the end of Q2 2022, 70 hedge funds owned $2.8 billion worth of stock in Pfizer Inc. ARK Investment Management was Pfizer Inc.’s (NYSE:PFE) largest shareholder as of September 30, with more than 23.3 million shares of the company.
Featured Image- Megapixl @ Brasilnut
Author Jowi Kwasu 
