Pfizer Hits A Speed Bump Today (PFE)
Symbols: PFE
Shares of Pfizer (NYSE: PFE) tumbled today after the company announced disappointing clinical news for two oncology products, Sutent and figitumumab. Phase III studies of Sutent demonstrated that it was not effective in treating breast cancer.
Pfizer (PFE) also announced that they are stopping Phase III trials for figitumumab due to poor results. During today's trading session, PFE shares have lost 1.27% to $17.08. This could present an attractive time to enter a long Pfizer position. Despite the stock's lackluster performance recently, this name remains a favorite among value investors.
(c) 2011 Benzinga.com. All rights reserved. This material may not be published in its entirety or redistributed without the approval of Benzinga.
We're Loving
