BofA Trims Pfizer (PFE) PT as COVID-19 Sales Slide and Obesity Focus Shifts to Metsera

Group 1 - Pfizer Inc. is currently viewed as a high-volume stock to consider for investment, despite a recent price target reduction from Bank of America to $27 from $28, maintaining a Neutral rating [1] - The company's 2026 guidance indicates a more significant decline in its COVID-19 franchise than previously expected, prompting a revision of near-term financial forecasts [1] - Attention is now directed towards Pfizer's obesity strategy, with investors anticipating trial results from the recently acquired Metsera assets to assess their potential in the weight-loss market [1] Group 2 - Pfizer and Astellas reported positive topline results from the Phase 3 EV-304 trial, demonstrating that the combination of PADCEV and Keytruda significantly enhances event-free survival and overall survival for muscle-invasive bladder cancer patients [2] - The trial also achieved its secondary endpoint of pathologic complete response rate, indicating a statistically significant improvement over traditional neoadjuvant chemotherapy [3] - The findings from the EV-304 trial, along with earlier results from the EV-303 trial, position the PADCEV and Keytruda combination as a potential new standard of care for muscle-invasive bladder cancer patients, regardless of cisplatin eligibility [3]