Market Update (NYSE:PFE): Europe lifts warning on Pfizer smoking cessation drug

[Reuters] – European regulators have lifted a warning on Pfizer’s smoking cessation drug Champix – called Chantix in the United States – after a clinical study concluded it did not appear to increase the risk of neuropsychiatric side effects. Champix is approved as an effective therapy for helping smokers quit but the European Medicines Agency added a “black triangle” warning following reports linking it to agitation, aggression, panic, anxiety, depression and suicidal thoughts. Pfizer said on Monday that experts at the European drugs watchdog had now adopted a decision to change the label in the light of results from a large study, published in The Lancet medical journal in April, that provided safety reassurance. Read more on this. Pfizer Inc. (PFE) , with a current market cap of $204.69B, opened this morning at $33.83. Looking at the equity, the company’s one day range is $33.65 to $33.91 with the price of the stock fluctuating between $28.25 to $36.46 over the last 52 weeks. PFE shares are currently priced at 13.83x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.55x earnings multiple. And for dividend hunters, the company pays shareholders $1.20 per share annually in dividends, yielding 3.56%. In a review of the consensus earnings estimate this quarter, 15 sell-side analysts are looking at $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 $12.94 Billion. If reported, that would be a 9.20% increase over the year-ago quarter. In terms of ratings, Berenberg Initiated PFE at Hold (May 12, 2016). Previously, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral. The average price target for PFE shares by the analysts covering the stock is $38.62, which is 14.16% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Company Update: Pfizer Inc (NYSE:PFE) – Pfizer buys skin drug maker Anacor Market Update: Pfizer Inc (NYSE:PFE) – Pfizer Receives Expanded FDA Approval For IBRANCE (palbociclib) In HR+, HER2- Metastatic Breast Cancer Market Update: Pfizer Inc (NYSE:PFE) – Pfizer unit to pay $784.6 mln in Medicaid rebate settlement