Pfizer (PFE) hit a 52-week low while Merck (MRK) sprinted to a 4 year high, both ahead of analyst meetings. What’s the trade as drug makers get a physical from Wall Street?
CNBC Pharmaceuticals Reporter Mike Huckman joins the panel for this conversation. He suggests a series of upcoming meetings could be catalysts for select drug stocks. Following are excerpts from what he said.
Merck (Dec 4 / also Dec. 11)
Next Tuesday morning before the bell, Merck holds it’s annual conference call with updated financial guidance for the year and possibly beyond. A week later it does its full blown analyst meeting. It’s anyone’s guess what they’re going to say, but it could be a catalyst that drives Merck stock.
Pfizer (Nov. 29)
Pfizer is web-casting an analyst meeting Thursday night at 11pm from Hong Kong explains Huckman. It could be worth watching.
Eli Lilly (Dec. 6) and Bristol Myers (Dec. 5)
Both Eli Lilly (LLY) and Bristol Myers (BMY) are holding meetings over the next few days. They too could be catalysts, says Huckman.