Pfizer (PFE, Financial) is set to unveil pivotal data on its innovative cancer therapies at the upcoming 2025 American Society of Clinical Oncology (ASCO) Annual Meeting, scheduled from May 30 to June 3 in Chicago. The company will present findings from over 60 studies, encompassing a wide range of cancer types, including breast, colorectal, genitourinary, hematologic, and thoracic cancers. The presentations will include nine oral and six rapid oral sessions.
Notably, Pfizer will spotlight two key late-breaking oral presentations during ASCO’s pre-meeting press briefing on May 27. One will focus on the primary analysis of overall survival and progression-free survival data from the Phase 3 BREAKWATER study. This study examines the efficacy of BRAFTOVI combined with cetuximab and mFOLFOX6 in treating patients with BRAF V600E-mutant metastatic colorectal cancer. The other significant presentation will reveal progression-free survival results from the Phase 3 VERITAC-2 study of vepdegestrant, in collaboration with Arvinas, for patients with certain advanced or metastatic breast cancers.
Further, Pfizer will provide updates on significant late-stage projects, including five-year survival data from the Phase 3 ARCHES study of XTANDI (enzalutamide) used with androgen deprivation therapy in metastatic hormone-sensitive prostate cancer. Additionally, Pfizer will present the first combination data for ELREXFIO, daratumumab, and lenalidomide from the MagnetisMM-6 study targeting newly diagnosed multiple myeloma patients ineligible for transplants.
Pfizer is also exploring new avenues with vedotin antibody-drug conjugates (ADCs) in combination with immune checkpoint inhibitors. For the first time, encouraging Phase 1 data will be shared on two new investigational ADCs combined with pembrolizumab in thoracic cancers: sigvotatug vedotin in lung and head and neck cancers, and PDL1V in head and neck cancers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Pfizer Inc (PFE, Financial) is $29.13 with a high estimate of $41.43 and a low estimate of $22.00. The average target implies an upside of 30.12% from the current price of $22.39. More detailed estimate data can be found on the Pfizer Inc (PFE) Forecast page.
Based on the consensus recommendation from 23 brokerage firms, Pfizer Inc's (PFE, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Pfizer Inc (PFE, Financial) in one year is $28.57, suggesting a upside of 27.63% from the current price of $22.385. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Pfizer Inc (PFE) Summary page.
Key Business Developments
Release Date: February 04, 2025
- Full Year 2024 Revenue: $63.6 billion, up from $59.6 billion last year.
- Operational Revenue Growth (Excluding COVID Products): 12%, exceeding expectations of 9% to 11%.
- Full Year 2024 Adjusted Gross Margin: 74%.
- Full Year 2024 Diluted EPS: $1.41, up from $0.37 last year.
- Full Year 2024 Adjusted Diluted EPS: $3.11, up from $1.84 last year.
- Fourth Quarter 2024 Revenue: $17.8 billion, up from $14.6 billion in the same period last year.
- Fourth Quarter Non-COVID-19 Products Revenue: $13.7 billion, reflecting 11% operational year-over-year growth.
- Fourth Quarter Adjusted Gross Margin: Approximately 68%.
- Fourth Quarter Adjusted Operating Expenses: $7.3 billion, flat operationally.
- Fourth Quarter Adjusted SI&A Expenses: Decreased 4% operationally.
- Fourth Quarter Adjusted R&D Expenses: Increased 8% operationally.
- Fourth Quarter Adjusted Diluted EPS: $0.63.
- 2024 Capital Return to Shareholders: $9.5 billion via dividends.
- 2024 Internal R&D Investment: $10.8 billion.
- 2024 Deleveraging: $7.8 billion, including $2.3 billion in maturing debt and $5.5 billion in commercial paper.
- 2025 Revenue Guidance: $61 billion to $64 billion.
- 2025 Adjusted Diluted EPS Guidance: $2.80 to $3.00.
- 2025 Expected Net Savings from Cost Realignment: $4.5 billion by the end of 2025.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Pfizer Inc (PFE, Financial) successfully integrated the Seagen business, enhancing its oncology capabilities.
- The company achieved strong financial performance with a 12% operational revenue growth excluding COVID products.
- Pfizer Inc (PFE) maintained a leadership position in key markets, such as the top spot in the 2024 IQVIA US Field Force Ranking report.
- The company demonstrated robust pipeline progress with more than a dozen approvals and several pivotal study starts.
- Pfizer Inc (PFE) achieved significant cost savings, contributing to expanded margins and strong shareholder returns.
Negative Points
- The COVID-19 portfolio showed stabilizing patterns with relatively low vaccination rates in the US.
- Pfizer Inc (PFE) faces competitive pressure in the adult vaccine market, particularly from Capvaxive.
- The company anticipates a $1 billion revenue headwind due to the IRA Medicare Part D redesign.
- There are concerns about potential impacts from new market entrants on the Vyndaqel franchise.
- Pfizer Inc (PFE) recorded approximately $2.9 billion in noncash intangible asset impairments related to several medicines.
