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Why is Pfizer Inc (PFE) Stock down?

We've noticed a 5.40% decline in Pfizer Inc (PFE) stock during the 2025-04-10 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
13 Dec, 2023:

Shares of Pfizer Inc. (PFE) dropped by 6.72% from $28.58 to $26.66 in the trading on Wednesday, December 13, 2023. The reason why PFE down today is due to the company's ongoing struggle to bolster its stock price, driven by lower-than-expected projections for fiscal year 2024 earnings and revenues.

  • Earnings Projections: Pfizer aimed for FY24 earnings per share (EPS) in the range of $2.05-2.25, indicating a 39% year-over-year increase at the midpoint. However, these figures fell well below consensus estimates.
  • Revenue Outlook: The company's revenue forecast for FY24 was also disappointing, with projected revenues of $58.5-61.5 billion, indicating nearly flat year-over-year growth.
  • Fading Demand: Declining demand for Pfizer's COVID-19 vaccine Comirnaty and treatment Paxlovid played a significant role in the company's subdued revenue expectations.
  • Acquisition Impact: The acquisition of oncology drug maker Seagen (SGEN) in March, with its substantial debt load, had already been anticipated to weigh on Pfizer's earnings over the short term.
  • Challenges and Headwinds: Pfizer faced several looming challenges, including a decline in COVID-19 vaccine sales, impending patent expirations for key drugs, such as Xeljanz in 2025 and Eliquis in 2026, and setbacks in its weight-loss drug danuglipron's development.
01 Dec, 2023:

Shares of Pfizer Inc. (PFE) dropped by 5.12% from $30.47 to $28.91 in the trading on Friday, December 1, 2023. The reason why PFE is down today is due to Pfizer's decision to discontinue the development of a twice-daily version of the experimental weight-loss pill, danuglipron.

  • Clinical Study Results: Pfizer based its decision on the results of a phase 2b clinical study of danuglipron. While the study did achieve its primary endpoint, showing significant placebo-adjusted weight loss of 5% to 9% at 26 weeks and 8% to 13% at 32 weeks, there were significant concerns.
  • High Rates of Side Effects: The study revealed high rates of side effects, with up to 73% of patients experiencing nausea and up to 47% experiencing vomiting.
  • High Discontinuation Rates: Additionally, the study reported high discontinuation rates, exceeding 50%.
  • Impact on Pfizer: This decision had a significant impact on Pfizer, as danuglipron was considered one of the company's top pipeline candidates. Pfizer's CEO, Albert Bourla, had previously stated that the drug could potentially become a "$10 billion product for us in a market that could be $90 billion." This decision to halt the development of danuglipron's twice-daily version, given the adverse event and discontinuation rates, had a negative impact on Pfizer's stock price on December 1, 2023.
17 Oct, 2023:

Pfizer, Inc. Stock (PFE) dropped by 1.56% from $33.27 to $32.75 in the trading on Tuesday October 17, 2023. The reasons why PFE stock down today include:

  • Lower full-year outlook: The drug company said sales of its COVID-19 vaccine and its coronavirus treatment are weaker than it had expected and cut revenue projections by $9 billion for the year.
  • Analyst price-target cuts: Truist Financial's Robyn Karnauskas reduced its price-target to $42 per share from the preceding $62. Despite that deep cut, she's still positive on Pfizer's future, as she maintained her buy recommendation.
26 Jun, 2023:

Shares of Pfizer Inc. (PFE) fell 3.68% after it said it would stop develping an experiemtal obesity and diabetes drug because of elevated liver enzymes found in some patients in its studies.

https://www.fool.com/investing/2023/06/26/why-pfizer-stock-is-tanking-today/

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