On February 19, 2016, Pfizer (PFE) was trading 8.2% below its 100-day moving average. For the last three months, the stock has traded below its 100-day moving average. Currently, the stock is trading 4.3% above its 52-week low.
On February 19, Pfizer received expanded FDA (U.S. Food and Drug Administration) approval for the use of IBRANCE 125mg capsules for the treatment of metastatic breast cancer. This could help the company to become a major player in the treatment of breast cancer.
The Healthcare Select Sector ETF (XLV) was trading 4.8% below its 100-day moving average on February 19, 2016. Gilead Sciences (GILD) and Eli Lilly (LLY) were trading 12.0% and 10.8% below their 100-day moving averages, respectively, on the same day. Johnson & Johnson (JNJ) was trading 3.8% above its 100-day moving average. Biogen (BIIB) was trading 6.9% below its 100-day moving average.
Wall Street analysts’ consensus estimates
The above table shows the moving averages and analysts’ estimates for the above-mentioned Healthcare sector companies. Wall Street analysts’ consensus estimates indicate a 28.6% average upside for the Healthcare sector. Over the next 12 months, Pfizer could see an upside of 31.3% from its levels on February 19, 2016.
Wall Street analysts’ estimates for other major Healthcare sector companies over the next 12 months are as follows:
- Johnson & Johnson could see an upside of 4.6%.
- Gilead Sciences could see an upside of 35.3%.
- Eli Lilly could see an upside of 35.6%.
- Biogen could see an upside of 36.4%.
In the next part of the series, we’ll look at the performance of the S&P 500’s (SPY) Utilities sector.