---
title: "Pfizer Stock is Ready to Stage a Turnaround on GLP-1 Hopes"
description: "Pfizer Inc. is aiming to enter the weight-loss treatment market dominated by GLP-1 drug makers. However, its previous attempts with GLP-1 contenders have failed. The company recently halted clinical t"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/207771799.md"
published_at: "2024-07-02T11:15:00.000Z"
---

# Pfizer Stock is Ready to Stage a Turnaround on GLP-1 Hopes

> Pfizer Inc. is aiming to enter the weight-loss treatment market dominated by GLP-1 drug makers. However, its previous attempts with GLP-1 contenders have failed. The company recently halted clinical trials for its obesity and Type 2 diabetes treatment due to potential liver toxicity concerns. Despite a decline in COVID-19-related revenues, Pfizer is on track to deliver net cost savings for 2024 and has reaffirmed its revenue and earnings guidance. The CEO is optimistic about the company's non-COVID performance and growth brands. The stock price has been fluctuating within a descending triangle pattern. Pfizer is currently working on three weight-loss treatments.

Pharmaceutical giant **Pfizer Inc. NYSE: PFE** has been trying to enter the weight-loss treatment trend dominated by GLP-1 drug makers like Ozempic and Wegovy makers **Novo Nordisk A/S NYSE: NVO** and Mounjaro and Zepbound makers **Eli Lilly & Co. NYSE: LLY**. Pfizer had failed in its previous attempts to create a viable GLP-1 contender.

Pfizer operates in the medical sector. In addition to the incumbents Novo Nordisk and Eli Lilly, it competes with other GLP-1 developers, including **Viking Therapeutics Inc. NASDAQ: VKTX**, **Altimmune Inc. NASDAQ: ALT** and **Structure Therapeutics NASDAQ: GPCR**.

## **Pfizer Halts Lotiglipron Trials Due to Liver Toxicity Concerns**

Pfizer had two promising GLP-1 drugs. However, it ended clinical trials in June 2023 for its second obesity and Type 2 diabetes mellitus treatment, lotiglipron. Lotiglipron was an oral GLP-1-RA contender with a once-a-day treatment that was seen as a viable contender to Ozempic. However, Phase 1 and Phase 2 clinical trial data indicated elevated transaminase enzyme levels, indicating the potential for liver dysfunction. To be clear, none of the enrolled participants reported liver-related side effects, symptoms, or liver failure.

  

## **Pfizer Discontinues Danuglipron Trials Due to High Dropout Rates**

The company decided to continue forward with its twice-a-day formulation of danuglipron. However, on Dec. 1, 2023, Pfizer discontinued its mid-stage trials of danuglipron due to dropouts driven by high rates of side effects, including vomiting and nausea. Nearly half the patients dropped out at certain dosages due to harsh gastrointestinal side effects. The drug enabled 13% weight loss in week 32, which rivals Eli Lilly's oral drug, which hit 15% in week 36.

## **Pfizer CEO Hints at 3 Weight-Loss Drugs**

During a Semafor event interview on June 24, 2024, Pfizer CEO Alfred Bourla noted that Pfizer is currently working on three weight-loss treatments. Pfizer decided to proceed with a new formulation of danuglipron that would be used once a day as a pill. The company will provide trial data for the once-a-day version of danuglipron in 2024.

Bourla didn't provide much more details, except that the company has two GLP-1 technology drugs and one non-GLP-1 mechanism in the works. The company is determined to get a piece of the medical weight-loss treatment segment.

## **PFE Stock Continues to Chop in a Descending Triangle Pattern**

The daily candlestick chart for PFE indicates a descending triangle pattern. The news of Pfizer testing three weight-loss drug candidates peaked out its second attempt to break out of the triangle range at $28.45, as shares again fell to retest the flat-bottom lower trendline at $27.07. The descending trendline started at the $29.73 swing high on June 4, 2024, as shares tested the flat-bottom lower trendline four times thereafter. A third test of the descending trendline is underway at $28.12. The daily relative strength index (RSI) illustrates a bounce attempt at the 50-band. Pullback support levels are at $27.07, $26.52, $25.61, and $24.50.

## **Pfizer's Recovery from COVID-19 Revenue Decline: Q1 Performance and Future Outlook**

**Overall MarketRank™**

**4.94 out of 5**

Analyst Rating

**Hold**

Upside/Downside

**25.9% Upside**

Short Interest

**Healthy**

Dividend Strength

**Strong**

Sustainability

**\-2.91**

News Sentiment

**0.73**

Insider Trading

**N/A**

Projected Earnings Growth

**15.55%**

See Full Details

Pfizer has been experiencing a steep decline in COVID-19-related revenues. The decline has been the primary driver of its falling revenues. Its Q1 2024 EPS was 82 cents, beating consensus EPS estimates by 31 cents. Revenues continued to fall 19.5% YoY to $14.88 billion, still beating the consensus estimates of $13.87 billion. The expected decline of its COVID-19 drugs Comirnaty and Paxlovid revenues were the key drivers for the fall. Non-COVID revenues climbed 11% YoY. The company is trying to recover from the normalization of COVID-19 revenues as it becomes more routine, like the flu shot.

Despite the revenue decline, Pfizer is on track to deliver at least $4 billion in net cost savings for 2024. The company reaffirmed its full-year 2024 revenue guidance of $58.5 billion to $61.5 billion and raised its adjusted diluted EPS guidance to $2.15 to $2.35, up from previous estimates of $2.05 to $2.25 versus $2.21 consensus estimates.

## **Pfizer CEO is Upbeat About Non-COVID-Related Performance**

CEO Bourla was bullish on the company's non-COVID performance in Q1 2024. The company increased revenue from several commercial launches and acquired products from its Seagen acquisition. Robust YoY growth occurred for several of its key in-line brands, including the Eliquis, Prevnar, and Vyndaqel family of medicines. Oncology revenue contributions were strong from Xtandi, Padcev, Adcetris, and Ibrance.

Dr. Bourla concluded, “Overall, I am encouraged by a well-executed quarter, setting the tone for the year. Pfizer’s commercial leadership is focused on data-driven opportunities across several key growth brands, both in the U.S. and internationally, and we intend to build on this positive momentum in the quarters ahead.”

**Pfizer analyst ratings and price targets** are at MarketBeat. The consensus analyst price target of $35.86 implies a 28.15% upside.

→ The #1 Crypto That You Don’t Own… Yet (From Crypto 101 Media) (Ad)## Should you invest $1,000 in Pfizer right now?

Before you consider Pfizer, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Pfizer wasn't on the list.

While Pfizer currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

### Related Stocks

- [PFE.US - Pfizer](https://longbridge.com/en/quote/PFE.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 辉瑞在台湾开展新的 Elranatamab 研究，目标是收集现实世界的骨髓瘤数据 | 辉瑞公司（Pfizer Inc.，股票代码：PFE）正在台湾启动一项新的观察性研究，以评估其多发性骨髓瘤药物 elranatamab 在真实世界中的有效性。该研究旨在跟踪患者的治疗结果和治疗模式，尽管尚未开始招募参与者。此举预计将增强辉瑞的 | [Link](https://longbridge.com/en/news/276252273.md) |
| 这位辉瑞分析师以看空的基调开始覆盖；以下是周五的五大新启动 | 华尔街顶级分析师已对多家公司启动了覆盖。Baird 的 David Koning 对 Affirm Holdings (AFRM) 给予中性评级，目标价为 55 美元。Piper Sandler 的 Biren Amin 对 OKYO Ph | [Link](https://longbridge.com/en/news/276467088.md) |
| 特朗普暗示违法征收的关税不退了，美财长称今年关税收入将 “基本保持不变” | 美国总统特朗普暗示不会退还被最高法院裁定违法的关税，预计 2026 年关税收入将保持不变。特朗普计划签署行政令，对全球商品加征 10% 进口关税，取代被推翻的关税。财长贝森特表示，政府将利用替代法律权力维持关税收入，强调国家安全和财政收入不 | [Link](https://longbridge.com/en/news/276494362.md) |
| 沃尔玛四季度财报超预期但盈利指引不及预期，CEO 称 “美国低收入家庭只能勉强维持生计” | 沃尔玛 Q4 营收超预期，新财年盈利指引（每股 2.75-2.85 美元）远低于市场预期的 2.96 美元，显示通胀压力下消费者支出不确定性犹存，拖累股价下跌 1.38%。财报印证 K 型” 分化：高收入家庭驱动增长，低收入群体 “钱包吃紧 | [Link](https://longbridge.com/en/news/276398633.md) |
| 谷歌突然发布 Gemini 3.1 Pro：核心推理性能直接翻倍 | 谷歌发布了最新的大模型 Gemini 3.1 Pro，其推理性能较去年发布的 Gemini 3 Pro 翻倍。在 ARC-AGI-2 评测中，Gemini 3.1 Pro 得分 77.1%，显示出强大的推理能力。新模型支持多源数据综合和复杂 | [Link](https://longbridge.com/en/news/276396515.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.
