Pfizer (NYSE:PFE) Price Target Cut to $29.00 by Analysts at Citigroup

Pfizer (NYSE:PFEGet Free Report) had its price objective decreased by equities research analysts at Citigroup from $30.00 to $29.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s price target indicates a potential upside of 8.84% from the company’s current price.

PFE has been the topic of a number of other research reports. Wolfe Research assumed coverage on shares of Pfizer in a report on Friday, November 15th. They set an “underperform” rating and a $25.00 price objective on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, UBS Group lowered their price objective on shares of Pfizer from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $31.92.

Check Out Our Latest Analysis on PFE

Pfizer Stock Performance

Shares of NYSE PFE opened at $26.65 on Tuesday. Pfizer has a 12 month low of $24.48 and a 12 month high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market cap of $151.00 billion, a P/E ratio of 36.01, a P/E/G ratio of 0.64 and a beta of 0.64. The business’s 50 day moving average is $26.18 and its two-hundred day moving average is $27.91.

Pfizer (NYSE:PFEGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) 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 firm had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, equities analysts expect that Pfizer will post 2.94 EPS for the current year.

Institutional Trading of Pfizer

Several institutional investors and hedge funds have recently bought and sold shares of PFE. Retirement Wealth Solutions LLC bought a new stake in shares of Pfizer during the 4th quarter worth approximately $26,000. Gladius Capital Management LP increased its holdings in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 38,015 shares during the last quarter. Quarry LP bought a new stake in Pfizer during the second quarter worth $31,000. Teachers Insurance & Annuity Association of America acquired a new stake in Pfizer in the third quarter valued at $35,000. Finally, Joseph Group Capital Management grew its position in shares of Pfizer by 168.3% in the 3rd quarter. Joseph Group Capital Management now owns 1,229 shares of the biopharmaceutical company’s stock valued at $36,000 after acquiring an additional 771 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

(Get Free Report)

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.

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