Pfizer: Deeper dive into SV (so you're saying there's a chance...) and wrapping up a busy conference season with minor model changes

研报英文原文证据摘录

Pfizer: Deeper dive into SV (so you're saying there's a chance...) and wrapping up a busy conference season with minor model changes

Equity Research

U.S. Biopharmaceuticals

12 June 2026

Pfizer

Deeper dive into SV (so you're

saying there's a chance...) and

PFE UNDERWEIGHTwrapping up a busy conference

Unchanged

U.S. Biopharmaceuticals NEUTRALseason with minor model changes

With the ASCO dust having settled, we take a deeper dive into Price Target USD 25.00

the SV NSCLC trials and are incrementally more positive, yet it Unchanged

Price (11-Jun-26) USD 26.17

remains a high-risk program. Investors see valuation/div yield Potential Upside/Downside -4.5%

as providing a floor but we maintain UW, $25 PT. Source: Bloomberg, Barclays Research

Market Cap (USD mn) 149154

Shares Outstanding (mn) 5699.44

Free Float (%) 99.03

52 Wk Avg Daily Volume (mn) 48.3 THE EXTEL SURVEY IS CLOSING SOON

Dividend Yield (%) 6.57

Support our industry-leading Return on Equity TTM (%) 8.30

Current BVPS (USD) 15.81

Source: Bloomberg analysts with 5-Star votes in

the 2026 Extel All-America Price Performance Exchange-NYSE

Research Survey. 52 Week range USD 28.75-23.11

Vote Now View Analysts

It's been a busy few weeks for Pfizer. Going into ASCO, the company announced a

collaboration with Innovent Biologics (not covered) which will include research and Source:Link to BarclaysIDC Live for interactive charting

development of 12 oncology medicines. At the annual Chicago conference, the company

presented multiple datasets across various tumor types (including the impressive 7-year update

U.S. Biopharmaceuticalsfor survival data for ALK+ NSCLC patients treated with Lorbrena in the CROWN study, where

Emily Field, CFA

median PFS has yet to be reached in patients and a still-early update for PD-1xVEGF bispecific