Pfizer (NYSE:PFE) PT Raised to $29.00

Pfizer (NYSE:PFE) had its price target upped by Morgan Stanley from $28.00 to $29.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price target would indicate a potential upside of 4.28% from the company’s previous close.

Other analysts have also issued research reports about the company. BMO Capital Markets restated an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a report on Thursday. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price objective on the stock. Argus downgraded shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Monday, April 15th. Finally, TD Cowen downgraded shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price objective on the stock. in a research report on Thursday, January 4th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Pfizer presently has an average rating of “Hold” and a consensus target price of $36.00.

Pfizer Trading Up 0.4 %

Shares of NYSE PFE traded up $0.11 during midday trading on Thursday, hitting $27.81. The company’s stock had a trading volume of 60,568,852 shares, compared to its average volume of 41,900,304. The business’s 50 day moving average is $26.88 and its two-hundred day moving average is $28.21. The firm has a market cap of $157.48 billion, a P/E ratio of -463.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.63. The company has a current ratio of 0.91, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to analyst estimates of $13.87 billion. Pfizer had a negative net margin of 0.56% and a positive return on equity of 8.58%. The firm’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. As a group, equities research analysts expect that Pfizer will post 2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Pfizer in the 4th quarter valued at $2,129,927,000. Wellington Management Group LLP raised its position in shares of Pfizer by 4.9% in the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after acquiring an additional 11,099,024 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Pfizer by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 95,772,746 shares of the biopharmaceutical company’s stock worth $3,161,261,000 after acquiring an additional 9,393,992 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 13.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Pfizer by 30.9% in the 3rd quarter. Invesco Ltd. now owns 24,054,896 shares of the biopharmaceutical company’s stock valued at $797,901,000 after purchasing an additional 5,678,004 shares in the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.