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Blackstone Life Sciences announces strategic co-funding agreement with Pfizer: Can BX recover above the MA-200?
Blackstone unveiled a strategic co-funding agreement with Pfizer, committing up to $1.5 billion through 2028 to back the development of berobenatide, a prospective first-in-class monthly GLP-1 receptor agonist for obesity. The stock edges lower on the day, trading at $121.97.
BX price prediction
Current price:
$120.19
1.64
1.38%
Closed
11/13
Daily range
117.78
120.19
120.19
Weekly range
117.78
125.35
125.35
Loading...
Highlights
- Blackstone will provide up to $1.5 billion through 2028 to support Pfizer's berobenatide obesity drug program.
- Shares of Blackstone edge lower on the day, trading at $121.97.
- Fifty of 93 analysts rate Blackstone stock a buy, and the median price target stands at $138.
Blackstone announced a strategic co-funding agreement with Pfizer to support development of berobenatide, a potential first-in-class monthly GLP-1 receptor agonist. Blackstone Life Sciences will provide up to $1.5 billion through 2028, according to the company and Rallies. Milestone payments to Blackstone are contingent on U.S. regulatory approval and commercial sales targets for berobenatide, as reported by Blackstone.
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Muted price action as shares stay split near technical averages
CCI at 87.1 is nearing overbought territory, suggesting the advance could be getting stretched. Price action remains split, with shares of Blackstone below the MA-200 at $122.95 but holding above the MA-20 and MA-50. This positioning reflects a muted move against the broader bullish structure seen on the chart.
Upside bias holds as traders await close above the MA-200
Traders should watch whether shares can close above $122.95 to gauge if buyers are willing to follow through. CCI readings approaching 87.1 highlight early signs that the recent climb may be reaching its limits. Over the coming trading week, the probability of further upside is 68%, while the chance of a downside move is 32%, with an expected range between $118 and $125.93. Still, a sustained move higher with a firm trend has marked the past week. A drop below $119.59 would show the move is being faded. On the weekly chart, the longer-term picture stays negative.
Previously it was reported that Blackstone’s $63 billion financing deal with Broadcom positioned the company at the center of major capital markets activity amid persistent longer-term downside trends. The latest strategic partnership with Pfizer adds a fresh catalyst to the stock’s profile, and traders should watch for a break above $122.95 to signal renewed upward momentum within the current range.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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