Pfizer's Oncology Triumphs Keep Investors Hooked Amid Market Volatility

ALLKA Research
2.36K Followers
(13min)

Summary

  • Despite today's fall in Pfizer's share price, it beat my and Wall Street analysts' expectations for the third quarter of 2024 by a large margin.
  • Tafamidis franchise sales were $1.45 billion in Q3 2024, an increase of 9.4% quarter-on-quarter and 62.2% year-on-year.
  • Meanwhile, sales of Padcev, approved for the treatment of urothelial cancer, amounted to $409 million for the three months ended September 30, 2024, an increase of 104.5% year-on-year.
  • Pfizer also raised its 2024 non-GAAP EPS guidance from $2.45-$2.65 to $2.75-$2.95.
  • As a result, I continue to cover PFE stock with a 'Strong Buy' rating.

Doctor listening to patient"s heart with stethoscope

andreswd/E+ via Getty Images

On October 29, 2024, Pfizer (NYSE:PFE) reported financial results for the third quarter of 2024, which exceeded Wall Street analysts' expectations and also pleased me with the progress made in recent months.

The New York-based

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