On October 14, Pfizer posted an Intraday Rise of 3.05% in Regular Trading, trading at $29.22 per share with turnover of $192 million.
The move was accompanied by a fresh round of analyst target price increases. JPMorgan recently raised its target price on Pfizer to $30 from $28, following Bank of America lifting its target to $29 from $27 and Scotiabank increasing its target to $33 from $30, reinforcing expectations for valuation recovery.
Recent company-specific developments also provided support. Earlier in October, the FDA approved Tukysa in combination with trastuzumab and pertuzumab for maintenance treatment of HER2-positive metastatic breast cancer in the first-line setting, adding a fundamental catalyst alongside the improving sell-side view.
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