Is High-Yield Pfizer Stock Still a Buy After Scrapping Its Weight-Loss Pill?
Pfizer (NYSE: PFE) recently reminded investors how risky the drug-development business can be. On April 14, the company told investors it would scrap development of danuglipron, its oral GLP-1 candidate for weight management. The stock has been trading about 63% below its all-time high.Pfizer's stock price is way down, but the quarterly dividend it pays has risen for 16 consecutive years. At its beaten-down price, the stock offers an eye-popping 7.8% yield.If Pfizer continues its dividend-raising streak, investors who buy at recent prices could realize market-beating gains over the long run. Let's look a little closer at danuglipron, plus some bigger problems the company faces, to see if this stock could be a smart buy on the dip.Continue reading
Pfizer (NYSE: PFE) recently reminded investors how risky the drug-development business can be. On April 14, the company told investors it would scrap development of danuglipron, its oral GLP-1 candidate for weight management. The stock has been trading about 63% below its all-time high.
Pfizer's stock price is way down, but the quarterly dividend it pays has risen for 16 consecutive years. At its beaten-down price, the stock offers an eye-popping 7.8% yield.
If Pfizer continues its dividend-raising streak, investors who buy at recent prices could realize market-beating gains over the long run. Let's look a little closer at danuglipron, plus some bigger problems the company faces, to see if this stock could be a smart buy on the dip.
