UBS Says Pfizer Has 'Underappreciated' Oncology Portfolio After ASCO

In a report published Wednesday, UBS analyst Marc Goodman maintained a Buy rating on

, with a price target of $39. Pfizer management indicated that Ibrance has captured a 20 percent market share in a very short time. The company also highlighted some other programs that could significantly expand its commercial opportunities. Pfizer is well positioned to be a credible player in the next wave of IO combo therapies with its NCEs and appears to have a good lead in mono for 4-1BB and a combo of 4-1BB is in Phase I. In the report UBS noted that the company's shares did not move much after the ASCO as the markets had alredy anticipated the Ibrance information. "The street underappreciates Pfizer's oncology franchise, including Ibrance, second wave IO combos, as well as the rest of the earlier stage technologies, which we think in addition to expected additional acquisitions should support solid growth in the innovative bizz," analyst Marc Goodman mentioned.