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

[PR Newswire] – Philogen S.p.A., today announced that Pfizer Inc. (PFE) has exercised options granted under the agreement established in December 2014 for the potential development and commercialization of multiple antibody drug conjugates (ADCs). Philogen is a biotechnology company developing targeted therapies with precise specificity in certain diseases characterised by angiogenesis. “We are delighted to confirm that the exploratory phase of the initiative to combine Philogen’s validated antibodies with Pfizer’s extensive chemistry capabilities has transitioned to the licensed phase,” commented Dr. Duccio Neri, Philogen’s CEO. Read more on this. Pfizer Inc. (PFE) , valued at $189.90B, started trading this morning at $30.60. Today, shares have traded between $30.54 and $30.87 per share with a one year range of $28.47 to $36.46. PFE shares are currently priced at 14.06x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -2.14x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 3.91%. According to a consensus of 18 analysts, the earnings estimate of $0.52 per share would be $0.02 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $2.18, which would be a $0.08 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $13.56 Billion. If realized, that would be a 3.43% increase over the year-ago quarter. Recently, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral (Nov 25, 2015). Previously, Morgan Stanley upgraded PFE from Equal-Weight to Overweight. Investors should keep in mind is that the average price target is $40.19, which is 31.34% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Company Update: Pfizer Inc (NYSE:PFE) – Pfizer Announces Collaboration with GSK on Next-Generation Design of Portable, Continuous, Miniature and Modular (PCMM) Oral Solid Dose Development and Manufacturing Units Company Update: Pfizer Inc (NYSE:PFE) – Gliknik Licensee Pfizer Receives Orphan Drug Designation From U.S. Food and Drug Administration for Drug Candidate Directed Towards Rare Neurological Disorder Stock Update (NYSE:PFE): Britain raps Pfizer over inflated epilepsy drug prices