A few years ago, Pfizer (NYSE: PFE) looked unstoppable.
The company generated more than $100 billion in annual revenue early in the pandemic, powered by its COVID-19 vaccine and antiviral treatment
Investors piled into the stock, expecting the pharmaceutical giant to convert its pandemic windfall into a new era of long-term growth. That didn’t happen. COVID revenue collapsed.
The stock fell more than 60% from its pandemic highs. Now, let’s reevaluate the question: Is Pfizer a buy, sell, or hold? Patent-cliff blues Pfizer stock currently trades at less than 9 times forward earnings while yielding more than 6%, making it one of the cheapest large-cap pharmaceutical stocks on the market.