Pfizer Inc. (NYSE:PFE) on Tuesday shared news regarding its BRAFTOVI regimen for treating metastatic colorectal cancer.
Pfizer announced that its Braftovi regimen demonstrated a statistically significant improvement in progression-free survival (PFS) for patients with a specific mutation in metastatic colorectal cancer.
Colorectal Cancer Data
Pfizer released topline progression-free (PFS) survival results from Cohort 3, a separate randomized cohort of the pivotal BREAKWATER trial, evaluating Braftovi (encorafenib) in combination with cetuximab (marketed as Erbitux) and Folfiri (fluorouracil, leucovorin, and irinotecan) for previously untreated metastatic colorectal cancer with a BRAF V600E mutation.
This follows the pivotal BREAKWATER trial, where the regimen showed promising results compared to traditional treatments.
In January, Pfizer shared data from Cohort 3 of the BREAKWATER trial, wherein the Braftovi combination regimen cetuximab demonstrated a clinically meaningful and statistically significant improvement in confirmed objective response rate (ORR) compared to patients receiving standard-of-care treatment FOLFIRI with or without bevacizumab (64.4% vs 39.2%, odds ratio =2.76, p=0.001).
Overall, the Phase 3 BREAKWATER trial demonstrated a clinically meaningful and statistically significant improvement in confirmed ORR compared to patients receiving chemotherapy with or without bevacizumab (60.9% vs. 40.0%).
Technical Analysis
Currently, Pfizer is trading 3.5% below its 20-day simple moving average (SMA) and 5.2% below its 100-day SMA, indicating some short-term weakness. Shares have increased 7.90% over the past 12 months and are currently positioned closer to their 52-week highs than lows.
The RSI is at 44.45, which is considered neutral territory, suggesting that the stock is neither overbought nor oversold. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum for Pfizer at this time.
- Key Resistance: $27.50
- Key Support: $24.50
Analyst Consensus & Recent Actions
The stock carries a Hold Rating with an average price target of $29.67. Recent analyst moves include:
- Cantor Fitzgerald: Neutral (Maintains Target to $27)
- Cantor Fitzgerald: Neutral (Raises Target to $27)
- UBS: Neutral (Target $25)
Top ETF Exposure
- First Trust Morningstar Dividend Leaders Index Fund (NYSE:FDL): 5.87% Weight
- Invesco Pharmaceuticals ETF (NYSE:PJP): 5.01% Weight
- Franklin US Dividend Booster Index ETF (NYSE:XUDV): 4.90% Weight
PFE Price Action: Pfizer shares were up 0.63% at $27.75 at the time of publication on Tuesday. The stock is trading near its 52-week high of $27.94, according to Benzinga Pro data.
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