Company Update (NYSE:PFE): Shire to License PF-00547659 from Pfizer, Adding to Established and Leading Gastrointestinal Portfolio

[PR Newswire] – Shire plc (LSE: SHP, NASDAQ: SHPG) today announced it has agreed to license global rights to all indications for PF-00547659 from Pfizer Inc. (PFE). PF-00547659 is an investigational biologic being evaluated for the treatment of moderate-to-severe inflammatory bowel disease (IBD). Read more on this. Pfizer Inc. (PFE) , valued at $210.53B, ended session yesterday at $34.74. During the trading session, PFE traded between $34.58 to $34.73 with a one year range of $28.25 to $36.46. PFE shares are currently priced at 14.24x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -0.02x earnings multiple for the same period. And for income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 3.40%. 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. The full-year EPS estimate is $2.44 which would be a $0.24 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.94 Billion. If realized, 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. Investors should keep in mind is that the average price target is $38.67, which is 11.31% above where the stock opened this morning. See more in (NYSE:PFE) Similar Articles: Company Update: Pfizer Inc (NYSE:PFE) – IBM Teams Up With Pfizer To Move Towards Parkinson’s Cure Company Update: Pfizer Inc (NYSE:PFE) – Indian court grants Pfizer temporary relief on cough syrup ban 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