Pfizer (PFE) stock up after earnings and positive trial results

Tuesday, January 29, 2019 1:14 PM | Brad Spears

Shares of Pfizer (PFE) stock are up Tuesday after the company, in combination with Eli Lilly (LLY), announced positive top-line results from a Phase 3 study evaluating the drug Tanezumab. Tanezumab is a non-opioid pain medication used to treat patients with moderate-to-severe osteoarthritis pain.

Pfizer Inc. also release quarterly earnings today, posting earnings beats on both the top and bottom lines. The company reported earnings per share of $0.64, beating estimates by $0.01, with revenues coming in-line with expectations at $13.98 billion. Pfizer's forward guidance came in below Wall Street's expectations, causing the stock to drop in the pre-market but rebounded into the open.

Pfizer stock is up 2.21% while the S&P 500 is lower by -0.09% as of 1:03 PM on Tuesday, Jan 29. PFE stock is up $0.88 from the previous closing price of $39.52 on volume of 23,904,284 shares. Over the past year the S&P 500 is lower by -7.43% while Pfizer stock is up 3.54%. PFE stock earned $1.97 a share in the most-recent quarter, giving it a price-to-earnings ratio of 20.55.

Stock Score Report, InvestorsObserver’s proprietary scoring system gives PFE stock a score of 43 out of a possible 100. That score is based on three component scores. A fundamental score of 43, a long-term technical score of 66 and a short-term technical score of 20. Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment. PFE stock holds an average analysts’ recommendation of Moderate Buy. with a median target price of $45.00.

Meanwhile, the major indices are headed in different directions. The Dow Jones Industrial Average is up 0.42% to 24,631.54. The S&P 500 is lower by -0.09% to 2,641.58. The NASDAQ is lower by -0.56% to 7,045.88.

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