No. of Recommendations: 5
Pfizer were working on two diabetes/weight loss drugs. It's my understanding they said up front they would go with the one that had the best results.
The first one, the results came out a week or two ago, they were excellent.
The second one, results today, some problems with the liver enzymes.
So they will go with the first one.
The prospects of the second drug being wildly better than an already excellent result, were not high.
IMHO the market has taken -5% off the long term value of Pfizer for basically not much reason at all.
And it's down -10% relative to the price just a week ago.
The last two times (in the last 8 weeks) the price dropped to $36-37, it rebounded to $40 within days.
I've picked some up, to replace the ones I sold recently at $40.
lux
No. of Recommendations: 3
Also, hopefully needless to say - please fact check everything I've written for yourself, in this and all my posts, don't use it as a basis for investing!
It's just a quick 'alert' note being written quickly from my own memory/understanding. Do your own research, not financial advice, etc.
lux
No. of Recommendations: 2
I've picked some up, to replace the ones I sold recently at $40.
I sold my smallish PFE position for a few pennies under $40 on the news and booked a decent short-term profit. I don't think I know more than the analysts who study the industry full time. I may re-enter if PFE drops further in a broad market downturn. But I'm in no big rush when I can earn 5.3% risk-free on a CD.
