BofA analyst Geoff Meacham says Pfizer announced “mixed” phase 2b data for twice-daily danuglipron, an oral GLP-1-RA in development for obesity. Though investor expectations weren’t high for danuglipron, the firm expects “modest weakness” in shares based on the phase 2b data given the intense focus on the obesity competitive landscape overall. Pfizer continues to seek a path forward with danuglipron by discontinuing development of the twice-daily formulation and shifting to a better tolerated, once-daily formulation, notes the firm, which maintains a Neutral rating and $38 price target on Pfizer shares.
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