Why Pfizer Stock Is Sinking Today
Shares of (NYSE: PFE) were sinking 8.3% lower as of 11:25 a.m. ET on Wednesday. The sharp sell-off came after the drugmaker provided its guidance for full-year 2024.
Pfizer expects 2024 revenue of between $58.5 billion and $61.5 billion. This range includes a contribution of around $3.1 billion from the company's pending acquisition of Seagen. It reflects little to no year-over-year growth from Pfizer, which is on track to generate revenue of $58 billion to $61 billion in 2023.
The pharma giant also projects adjusted diluted earnings per share (EPS) of between $2.05 and $2.25 in 2024, again including the expected impact of the Seagen acquisition. Pfizer anticipates delivering adjusted diluted EPS of $1.45 to $1.65 in full-year 2023.
Source Fool.com
Pfizer Inc. Stock
With 28 Buy predictions and 4 Sell predictions Pfizer Inc. is one of the favorites of our community.
With a target price of 41 € there is a positive potential of 44.32% for Pfizer Inc. compared to the current price of 28.41 €.
