Guggenheim Lifts PT on Pfizer Inc. (PFE) to $35 From $33, Keeps a Buy Rating

Pfizer Inc. (NYSE:PFE) is one of the best low volatility large cap stocks to invest in. On November 24, Guggenheim lifted the price target on Pfizer Inc. (NYSE:PFE) to $35 from $33 while keeping a Buy rating on the stock.

The firm told investors that Pfizer Inc.’s (NYSE:PFE) acquisition of Metsera, Inc. marks a “a wise strategic move” in order to gain traction amid the rapid growth dynamics of the obesity market, especially after the recent setbacks experienced by the company’s oral GLP-1 programs.

Pfizer Inc. (NYSE:PFE) announced the successful acquisition of Metsera, Inc. on November 13, stating that the acquisition brings “highly differentiated clinical-stage obesity candidates with potential to reshape the treatment landscape”.

Management added that the acquisition positions Pfizer Inc. (NYSE:PFE) to lead in one of the most high-growth and dynamic therapeutic areas, complementing and transforming its Internal Medicine portfolio by adding a number of promising therapeutic candidates.

These include “MET-097i, a weekly and monthly injectable GLP-1 receptor agonist (RA) about to begin Phase 3 development; MET-233i, a monthly amylin analog candidate being evaluated as monotherapy and in combination with MET-097i in Phase 1 development; an oral GLP-1 RA candidate in Phase 1 development; and additional preclinical nutrient-stimulated hormone therapeutics”.

Pfizer Inc. (NYSE:PFE) is a global biopharmaceutical company that manufactures, develops, markets, and sells biopharmaceutical products worldwide. It advances wellness, prevention, treatment, and cures in developing and emerging markets.

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Disclosure: None. This article is originally published at Insider Monkey.