Bubble Wrap maker Sealed Air surges on report of buyout talks
Investing.com - Canaccord Genuity raised its price target on Viking Therapeutic (NASDAQ:VKTX) to $107.00 from $106.00 while maintaining a Buy rating on the stock. This comes as potential acquirer Pfizer (NYSE:PFE), currently trading at $25.51, shows signs of being undervalued according to InvestingPro analysis.
The research firm noted that Viking shares have increased 56% since Pfizer ’s initial offer for Metsera was announced, compared to a 14% rise in the Nasdaq Biotechnology Index during the same period.
Canaccord highlighted that Metsera shares closed at $33.32 on the Friday before Pfizer announced the deal, and later reached $83.15 on the day the final amended agreement was signed with Pfizer, representing a 150% increase.
The firm described Viking as "a highly appealing asset in the obesity space" in its research note to investors.
Canaccord also identified Viking as "the leading biotech asset in obesity clinical development," underscoring its position in the competitive weight loss treatment market.
In other recent news, Pfizer Inc. reported third-quarter earnings that exceeded expectations, with earnings per share reaching $0.87, surpassing the consensus estimate of $0.61. Despite this positive earnings report, Pfizer’s stock faced pressure, with Goldman Sachs maintaining a Neutral rating and a price target of $26.00. The company raised the lower end of its 2025 earnings guidance, attributing the improvement to cost-cutting measures and a lower tax rate. Meanwhile, Pfizer is involved in legal proceedings after the Delaware Chancery Court denied its request for a temporary restraining order regarding its merger agreement with Metsera Inc. Pfizer claims Metsera breached contractual obligations by favoring a competing proposal from Novo Nordisk. Novo Nordisk has since withdrawn from the bidding war for Metsera, following concerns raised by the U.S. Federal Trade Commission about potential violations of premerger review laws. Bernstein reiterated its Market Perform rating on Pfizer, with a price target of $30.00, after the company’s earnings beat. These developments highlight the ongoing complexities in Pfizer’s business landscape.
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