How Major Pharma Is Faring After the Brexit
The broad markets are recovering in the wake of the Brexit and it really appears to be one big head fake. We are also realizing that the Brexit was a great opportunity to buy into the markets and provided an…
The broad markets are recovering in the wake of the Brexit and it really appears to be one big head fake. We are also realizing that the Brexit was a great opportunity to buy into the markets and provided an attractive entry point.
Now the question is what was the best sector or industry to buy into?
Investors who are looking to capitalize on a bludgeoned—now recovering—financial sector might just be looking for a trade. Although those that are looking for a strong yield over time had their shot at utilities as well. Considering the pullback that we saw in major pharmaceuticals, this is an industry worth taking a closer look at.
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24/7 Wall St. has picked some of the leading companies in this industry and tracked them since the Brexit. We have included a recent trading history, consensus analyst price target, and 52-week trading range.
Pfizer Inc. (NYSE: PFE) saw its stock jump up about 5% since the Brexit vote took place. Currently shares of Pfizer were last trading at $35.60, with a consensus analyst price target of $38.67 and a 52-week trading range of $28.25 to $36.46.
Merck & Co. (NYSE: MRK) had its shares climb 3.8% in the time since the Brexit. Shares of Merck were last trading at $57.98, with a consensus analyst price target of $61.45 and a 52-week trading range of $45.69 to $60.07.
Teva Pharmaceutical Industries Limited (NYSE: TEVA) watched its shares drop as low as $48.01 this week and then increase by 4.4% in this same period. Shares of Teva were last trading at $50.10, with a consensus analyst price target of $71.68 and a 52-week trading range of $48.01 to $72.31.
Bristol-Meyers Squibb Co. (NYSE: BMY) saw its stock jump 5% since the Brexit. Shares were last trading at $73.75, with a consensus analyst price target of $76.48 and a 52-week trading range of $51.82 to $75.12.
AbbVie Inc. (NYSE: ABBV) had its shares jump 4.8% in the time since the Brexit. Shares of AbbVie were last trading at $62.76, with a consensus analyst price target of $70.00 and a 52-week trading range of $45.45 to $71.60.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
