Company Update: Pfizer Inc (NYSE:PFE) – Pfizer buys skin drug maker Anacor

[AAP] – Pfizer is fortifying its key immunology and inflammation drug business, snapping up a small maker of skin disorder treatments for about $US5.2 billion, weeks after the US Treasury Department torpedoed Pfizer’s planned $US160 billion deal for Allergan PLC. Pfizer Inc’s agreement on Monday to acquire Anacor Pharmaceuticals Inc, a money-losing developer of topical skin treatments, is the biggest US-based drugmaker’s latest move in a yearslong struggle to accelerate growth. Pfizer, known for Viagra and pneumonia vaccine Prevnar 13, had been counting on acquiring Dublin-based Allergan and moving its headquarters – on paper – from New York to Ireland to reduce its tax bill. Read more on this. Pfizer Inc. (PFE) , with a current value of $206.68B, started the session at $32.93. Looking at the stock, its one day range is $32.81 to $33.43 with a trailing 52-week range being $28.25 to $36.46. Pfizer (PFE) shares are currently priced at 13.60x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.38x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $1.20 per share annually in dividends, yielding 3.62%. Consensus earnings for the current quarter by the 15 sell-side analysts covering the stock is an estimate of $0.62 per share, which would be $0.06 better than the year-ago quarter and a $0.03 sequential increase. Investors should also note that the full-year EPS estimate of $2.44 is a $0.24 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.93 Billion. If reported, that would be a 9.11% increase over the year-ago quarter. Recently, Berenberg Initiated PFE at Hold (May 12, 2016). Previously, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral. With the above information in mind, readers should note that the average price target is $38.55, which is 17.07% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Stock Update: Pfizer Inc (NYSE:PFE) – Pfizer Invites Public to Listen to Webcast of April 28 Annual Meeting of Shareholders Market Update: Pfizer Inc (NYSE:PFE) – Pfizer Receives Expanded FDA Approval For IBRANCE (palbociclib) In HR+, HER2- Metastatic Breast Cancer Company Update (NYSE:PFE): Philogen Announces Exercise of Options Within the License Agreement With Pfizer Inc. for the Development and Potential Commercialization of Multiple Antibody Drug Conjugates (ADCs) and Targeted Technologies