15 Best Large-Cap Value Stocks to Buy as the Recession Hits

4. Pfizer Inc. (NYSE:PFE)

Number of Hedge Fund Holders: 92

Forward P/E as of April 15: ~7.6x

Pfizer Inc. (NYSE:PFE) is engaged in discovering, developing, manufacturing, marketing, distributing, and selling biopharmaceutical products. Morgan Stanley reaffirmed an “Equalweight” rating on the company’s stock with a price objective of $31.00. The company has announced its decision to discontinue the development of danuglipron (PF-06882961), an oral glucagon-like peptide-1 (GLP-1) receptor agonist, which was being investigated for chronic weight management. Notably, cardiovascular and metabolic diseases, which include obesity, are critical areas of unmet medical need.  Therefore, Pfizer Inc. (NYSE:PFE) plans to continue to apply its global capabilities to advance a pipeline of investigational treatments that have the potential to fill critical gaps in patient care, which includes continued development of the oral GIPR antagonist candidate and other earlier obesity programs.

Elsewhere, Morningstar believes that Pfizer Inc. (NYSE:PFE)’s foundation is solid, considering its robust cash flows generated via a basket of diverse drugs. Its large size results in numerous competitive advantages in developing new drugs. This unmatched quality, together with a broad portfolio of patent-protected drugs, has helped Pfizer Inc. (NYSE:PFE) in building a wide economic moat, says Morningstar. In oncology, the company’s acquisition of Seagen bolstered its pipeline and portfolio. With Seagen’s proprietary Antibody-Drug Conjugate (ADC) technology, along with the scale and strength of Pfizer Inc. (NYSE:PFE)’s capabilities and expertise, the latter remains well-placed to change the cancer treatment paradigm.