Guggenheim Issues Pessimistic Forecast for Pfizer (NYSE:PFE) Stock Price

Pfizer (NYSE:PFE) had its price objective decreased by investment analysts at Guggenheim from $35.00 to $33.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s target price indicates a potential upside of 30.07% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Wolfe Research assumed coverage on shares of Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price on the stock. Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 target price on the stock. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America reiterated a “neutral” rating and set a $29.00 price target on shares of Pfizer in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pfizer currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.43.

Pfizer Trading Up 0.6 %

NYSE:PFE opened at $25.37 on Wednesday. The company has a 50 day simple moving average of $27.29 and a two-hundred day simple moving average of $28.31. The company has a market cap of $143.77 billion, a PE ratio of 34.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.65. Pfizer has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The business had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. During the same quarter last year, the company posted ($0.17) EPS. The company’s revenue was up 31.2% compared to the same quarter last year. Research analysts forecast that Pfizer will post 2.96 earnings per share for the current year.

Insider Activity at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in shares of Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after acquiring an additional 12,864,343 shares during the period. Marshall Wace LLP lifted its holdings in Pfizer by 279.3% during the second quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after purchasing an additional 8,378,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after buying an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Pfizer in the third quarter worth about $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Pfizer by 164.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock worth $211,737,000 after buying an additional 4,546,809 shares in the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

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.