Pfizer (NYSE:PFE) Price Target Raised to $29.00

Pfizer (NYSE:PFE) had its target price lifted by equities research analysts at Morgan Stanley from $28.00 to $29.00 in a research note issued 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 3.87% from the stock’s current price.

PFE has been the topic of several other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday. TD Cowen lowered shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, January 4th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a report on Monday, April 15th. Guggenheim assumed coverage on Pfizer in a report on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Argus lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $36.00.

Pfizer Price Performance

Shares of NYSE:PFE traded up $0.74 during trading on Thursday, reaching $27.92. The company had a trading volume of 36,980,057 shares, compared to its average volume of 42,540,176. The firm’s fifty day moving average is $26.87 and its 200 day moving average is $28.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The firm has a market capitalization of $158.10 billion, a PE ratio of 77.25, a price-to-earnings-growth ratio of 1.15 and a beta of 0.63. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The firm’s revenue for the quarter was down 19.5% compared to the same quarter last year. On average, equities analysts forecast that Pfizer will post 2.24 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PFE. Daiwa Securities Group Inc. grew its position in Pfizer by 14.3% in the first quarter. Daiwa Securities Group Inc. now owns 583,469 shares of the biopharmaceutical company’s stock worth $16,191,000 after acquiring an additional 73,183 shares in the last quarter. GSB Wealth Management LLC boosted its holdings in Pfizer by 20.9% in the first quarter. GSB Wealth Management LLC now owns 99,057 shares of the biopharmaceutical company’s stock worth $2,749,000 after purchasing an additional 17,127 shares in the last quarter. Gilbert & Cook Inc. increased its position in Pfizer by 3.3% during the first quarter. Gilbert & Cook Inc. now owns 26,491 shares of the biopharmaceutical company’s stock worth $735,000 after buying an additional 840 shares during the last quarter. Lincoln National Corp lifted its position in shares of Pfizer by 5.8% in the first quarter. Lincoln National Corp now owns 142,753 shares of the biopharmaceutical company’s stock worth $3,961,000 after buying an additional 7,782 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of Pfizer by 14.8% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 200,241 shares of the biopharmaceutical company’s stock worth $5,557,000 after acquiring an additional 25,825 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

About Pfizer

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.