Pfizer (NYSE:PFE) Price Target Cut to $48.00

Pfizer (NYSE:PFE – Get Rating) had its price objective lowered by stock analysts at SVB Leerink from $53.00 to $48.00 in a report released on Tuesday, The Fly reports. The brokerage presently has a “market perform” rating on the biopharmaceutical company’s stock. SVB Leerink’s price objective indicates a potential upside of 14.20% from the company’s previous close. SVB Leerink also issued estimates for Pfizer’s Q3 2022 earnings at $1.32 EPS, Q4 2022 earnings at $1.33 EPS, FY2022 earnings at $6.33 EPS, Q2 2023 earnings at $1.35 EPS, Q3 2023 earnings at $1.19 EPS, Q4 2023 earnings at $1.12 EPS, FY2023 earnings at $5.33 EPS and FY2024 earnings at $4.68 EPS.

PFE has been the topic of a number of other research reports. JPMorgan Chase & Co. set a $57.00 price target on shares of Pfizer in a report on Tuesday, June 28th. UBS Group set a $59.00 price target on Pfizer in a research report on Thursday, September 1st. Morgan Stanley lowered their price target on Pfizer from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. Barclays set a $50.00 price target on Pfizer in a research report on Thursday, September 1st. Finally, The Goldman Sachs Group set a $50.00 price target on Pfizer in a research report on Thursday, September 1st. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Pfizer currently has a consensus rating of “Moderate Buy” and an average price target of $56.06.

Pfizer Stock Performance

Shares of PFE opened at $42.03 on Tuesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.42. The company has a market capitalization of $235.89 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 0.52 and a beta of 0.63. The company’s 50 day simple moving average is $46.27 and its 200 day simple moving average is $49.48. Pfizer has a 1 year low of $40.94 and a 1 year high of $61.71.

Pfizer (NYSE:PFE – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.29. The business had revenue of $27.74 billion for the quarter, compared to the consensus estimate of $26.20 billion. Pfizer had a net margin of 28.92% and a return on equity of 43.18%. The company’s quarterly revenue was up 46.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. On average, sell-side analysts predict that Pfizer will post 6.54 EPS for the current year. Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. IVC Wealth Advisors LLC lifted its stake in shares of Pfizer by 8.3% in the third quarter. IVC Wealth Advisors LLC now owns 23,172 shares of the biopharmaceutical company’s stock worth $1,014,000 after acquiring an additional 1,768 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new stake in Pfizer during the third quarter valued at approximately $211,000. Grassi Investment Management raised its stake in Pfizer by 0.3% during the third quarter. Grassi Investment Management now owns 149,227 shares of the biopharmaceutical company’s stock valued at $6,530,000 after buying an additional 400 shares in the last quarter. Advisory Alpha LLC raised its stake in Pfizer by 3.5% during the third quarter. Advisory Alpha LLC now owns 19,006 shares of the biopharmaceutical company’s stock valued at $832,000 after buying an additional 645 shares in the last quarter. Finally, Viking Fund Management LLC raised its stake in Pfizer by 4.1% during the third quarter. Viking Fund Management LLC now owns 154,000 shares of the biopharmaceutical company’s stock valued at $6,739,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 67.90% of the company’s stock.

About Pfizer

(Get Rating)

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic and women’s health under the Premarin family and Eliquis brands; biologics, small molecules, immunotherapies, and biosimilars under the Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena, and Braftovi brands; and sterile injectable and anti-infective medicines, and oral COVID-19 treatment under the Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga, and Paxlovid brands.

Featured Articles

Receive News & Ratings for Pfizer Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pfizer and related companies with MarketBeat.com’s FREE daily email newsletter.