Pfizer (NYSE:PFE) Price Target Lowered to $29.00 at UBS Group

Pfizer (NYSE:PFE) had its price objective lowered by analysts at UBS Group from $31.00 to $29.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. UBS Group’s price objective points to a potential upside of 7.73% from the stock’s previous close.

PFE has been the subject of several other reports. StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Sanford C. Bernstein started coverage on Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Bank of America reaffirmed a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research note on Tuesday, December 10th. Guggenheim dropped their price objective on Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Finally, Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

Pfizer Trading Down 0.8 %

Shares of PFE stock opened at $26.92 on Wednesday. The business has a 50-day moving average price of $26.21 and a two-hundred day moving average price of $28.05. 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 firm has a market cap of $152.56 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64.

Pfizer (NYSE:PFE) last issued its 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. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Equities analysts anticipate that Pfizer will post 2.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were purchased at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sachetta LLC grew its stake in shares of Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 342 shares during the last quarter. Wells Trecaso Financial Group LLC grew its position in Pfizer by 2.5% during the 3rd quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after purchasing an additional 350 shares during the last quarter. Washington Trust Advisors Inc. increased its stake in Pfizer by 0.7% during the 3rd quarter. Washington Trust Advisors Inc. now owns 49,216 shares of the biopharmaceutical company’s stock valued at $1,424,000 after purchasing an additional 360 shares in the last quarter. Cullen Investment Group LTD. raised its holdings in Pfizer by 0.9% in the third quarter. Cullen Investment Group LTD. now owns 42,677 shares of the biopharmaceutical company’s stock worth $1,235,000 after buying an additional 377 shares during the last quarter. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of Pfizer by 1.5% in the second quarter. MidWestOne Financial Group Inc. now owns 26,530 shares of the biopharmaceutical company’s stock worth $742,000 after buying an additional 386 shares in the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

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.