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Company Update: Pfizer Inc (NYSE:PFE) – Block & Leviton LLP Investigates Anacor Pharmaceuticals Inc., Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Acquisition by Pfizer Inc.

[PR Newswire] – BOSTON, May 17, 2016 /PRNewswire/ — Block & Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Anacor Pharmaceuticals Inc. (“Anacor” or the “Company”) (NASDAQ: ANAC) concerning the proposed acquisition of the Company by Pfizer Inc. (“Pfizer”) in an all-cash transaction. Block & Leviton’s investigation seeks to determine, among other things, whether Anacor’s Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed acquisition by Pfizer and the overall fairness of the process by which the Anacor Directors considered and approved the transaction. The firm is also exploring whether Pfizer (NYSE: PFE) aided and abetted any violations of fiduciary duties. Read more on this. Pfizer Inc. (PFE) , currently valued at $204.52B, started the session at $33.27. Looking at today’s market, PFE one day range is $32.92 to $33.34 with its 52-week range being $28.25 to $36.46. PFE shares are currently priced at 13.68x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 5.38x earnings multiple for the same period. And for passive income investors, the company pays shareholders $1.20 per share annually in dividends, yielding 3.62%. According to a consensus of 15 analysts, the earnings estimate of $0.62 per share would be $0.06 better than the year-ago quarter and a $0.03 sequential increase. The full-year EPS estimate is $2.44, which would be a $0.24 better than last year. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.93 Billion. If realized, that would be a 9.11% increase over the year-ago quarter. In terms of ratings, Berenberg Initiated PFE at Hold (May 12, 2016). Previously, Sun Trust Rbsn Humphrey upgraded PFE from Reduce to Neutral. The average price target for PFE shares by the analysts covering it is $38.55, which is 15.87% above where the stock opened. See more in (NYSE:PFE) Similar Articles: Company Update: Pfizer Inc (NYSE:PFE) – Pfizer buys skin drug maker Anacor Market Update: Pfizer Inc (NYSE:PFE) – Pfizer Receives Expanded FDA Approval For IBRANCE (palbociclib) In HR+, HER2- Metastatic Breast Cancer Market Update: Pfizer Inc (NYSE:PFE) – Pfizer unit to pay $784.6 mln in Medicaid rebate settlement
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