"Analyzing Market Sentiments: Pfizer and Illumina Face Downgrades Amid Patent and Rating Challenges"
Pfizer Inc.'s stock was downgraded from outperform to market perform by TD Cowen due to concerns over upcoming patent expirations for major drugs and doubts about the company's management. Despite potential earnings growth, the loss of exclusivity for drugs like Eliquis and Ibrance is expected to impact the company's long-term performance. Analysts also questioned Pfizer's recent asset divestment decisions. The company's shares have seen a significant decline over the past year, contrasting with gains in the broader S&P 500 index.