Shares of Pfizer gained over 2% on Wednesday, extending the rally off the late February low to 7.75%. This impressive move has lifted the stock back to within striking distance of a major resistance area.
Category: Pfizer
Pfizer Profit, Forecast Fall Short as Generics to Hurt Sales
Pfizer Inc. posted fourth-quarter earnings and a forecast for 2017 that were both short of analysts’ estimates, as the drugmaker said it will lose billions of dollars in revenue as products lose exclusive sales rights. Revenue in 2017 will be $52 billion to $54 billion, Pfizer said in a statement Tuesday, compared with the $54.3 billion average of analysts’ estimates compiled by Bloomberg.
Related Article: There May Be a Buying Opportunity When Pfizer Shares Hit This Important Level
Shares of Pfizer have been on the decline, losing some 5% from its January 5 high of $33.61 a share. Shares of Pfizer have been on the decline, losing some 5% from its Jan. 5 high of $33.61 a share.