Pfizer Stock (NYSE:PFE)
Cantor Fitzgerald claimed that the market still needs to reflect the blockbuster potential of the treatment after Pfizer stock increased by a record 5% on Monday in response to peer-reviewed Phase 2 findings for the Pfizer (NYSE:PFE) oral weight reduction contender. The results were published in the company’s medical journal.
PFE’s GLP-1 receptor agonist danuglipron was shown to result in a weight reduction of between 2.7% and 4.9% when administered at Week 16 in doses of either 120 mg twice daily or 80 mg twice daily, according to the findings that were published in JAMA Network on Monday.
Cantor analyst Louise Chen argued that the business would likely choose one of its two oral GLP-1s, danuglipron or lotiglipron, for pivotal trials after additional data examination.
Chen gave Pfizer stock an Overweight rating and a $75 price target, writing, “After digesting the data, we continue to think that PFE’s oral glucagon-like peptide 1 (GLP-1) franchise has significant blockbuster potential and that this is not reflected in the stock’s valuation.”
According to the analyst, “Our company believes that the current consensus estimates provided by FactSet do not consider sales for PFE’s GLP-1 franchise.”
Chen also references the Phase 3 results PFE’s competitor Novo Nordisk published Monday for its once-daily oral obesity contender. According to the topline statistics, the Danish pharmaceutical company’s GLP1-receptor against, which is a variant of its best-selling obesity medicine Wegovy, resulted in a weight loss of 15.1% at a dosage of 50 mg, in comparison to a drop of 2.4% with a placebo at Week 68.
Chen also mentioned that the once-daily oral GLP-1 agonist orforglipron is now being tested for individuals with obesity in a Phase 3 clinical study conducted by Eli Lilly.
Chen recognizes that it will be difficult to draw meaningful comparisons across weight reduction studies using various oral GLP-1s due to variations in study duration, study design, study population, and study outcomes.
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