Guggenheim Lowers Pfizer (NYSE:PFE) Price Target to $33.00

Pfizer (NYSE:PFE) had its price target cut by equities research analysts at Guggenheim from $35.00 to $33.00 in a research report issued 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 29.97% from the stock’s current price.

PFE has been the subject of several other research reports. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They issued a “neutral” rating and a $30.00 price objective for the company. Sanford C. Bernstein began coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective for the company. Wolfe Research began coverage on Pfizer in a report on Friday, November 15th. They issued an “underperform” rating and a $25.00 price objective for the company. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Pfizer presently has an average rating of “Moderate Buy” and an average target price of $32.43.

Pfizer Stock Performance

Pfizer stock traded down $0.18 during trading hours on Wednesday, hitting $25.39. 12,341,982 shares of the stock traded hands, compared to its average volume of 38,410,316. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. The firm’s 50 day moving average price is $27.35 and its 200-day moving average price is $28.33. The stock has a market capitalization of $143.88 billion, a price-to-earnings ratio of 34.31, a P/E/G ratio of 0.71 and a beta of 0.65. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54.

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

Insider Buying and Selling at Pfizer

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

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently added to or reduced their stakes in PFE. Gladius Capital Management LP lifted its stake in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares in the last quarter. MFA Wealth Advisors LLC purchased a new stake in Pfizer in the 2nd quarter valued at approximately $29,000. Quarry LP purchased a new stake in Pfizer in the 2nd quarter valued at approximately $31,000. Financial Connections Group Inc. purchased a new stake in Pfizer in the 2nd quarter valued at approximately $34,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Pfizer in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds 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.