Should You Buy Pfizer Stock Below $30?

Pfizer, Inc. (NYSE: PFE) has encountered several challenges recently that have impacted its stock price. The company's coronavirus business is no longer as robust as it once was. Pfizer is also approaching crucial patent expiry dates, such as for its anticoagulant Eliquis. Moreover, the pharmaceutical giant has faced setbacks with some of its promising pipeline candidates, including those acquired.

These issues have led to billions in impairment charges. Consequently, Pfizer's shares have underperformed compared to the broader market over the past two years, often trading near $30 per share. The question arises: is it now the opportune moment to invest in Pfizer? Let's examine whether there is potential for a rebound.

Examining Pfizer's recent second-quarter update reveals mixed results. Despite a slight year-over-year increase in revenue to $15 billion, the top-line growth is not particularly impressive. However, Pfizer did surpass analyst estimates. On the earnings per share front, the adjusted figure stood at $0.77, which is slightly lower than the $0.78 reported in the previous year. Again, Pfizer managed to exceed expectations here. It's worth noting what contributed to the revenue and earnings beat.