Pfizer (PFE) saw its stock rise by 1.86% on December 5, 2024, closing at $25.70, up from the previous day's close of $25.23. The stock opened at $25.23 and reached a high of $25.79 during the trading session, with a volume of 37,070,428 shares, slightly below its average. The uptick in Pfizer's stock can be attributed to several factors, including State Street Corp's recent increase in its stake by 1.2% during the third quarter, signaling institutional confidence. Additionally, Pfizer's strategic focus on the oncology market and its upgraded 2024 guidance have been highlighted as positive developments, suggesting potential growth.
Further bolstering investor sentiment, a recent analysis pointed out Pfizer's undervaluation, with a 32% upside potential based on intrinsic value calculations. The company's strong fundamentals, including solid Q3 earnings and aggressive R&D spending, were emphasized as key drivers for future growth. Despite short-term market sentiment challenges, Pfizer's long-term prospects remain robust, with significant pipeline catalysts anticipated from 2025.