Truist Financial Lowers Pfizer (NYSE:PFE) Price Target to $32.00

Pfizer (NYSE:PFE) had its target price cut by analysts at Truist Financial from $36.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 21.72% from the company’s current price.

A number of other analysts also recently commented on the company. Bank of America restated a “neutral” rating and issued a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. Wolfe Research initiated coverage on shares of Pfizer in a research note on Friday, November 15th. They issued an “underperform” rating and a $25.00 target price for the company. StockNews.com cut Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Evercore ISI raised Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Citigroup began coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 target price for the company. One 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.14.

Pfizer Stock Performance

Pfizer stock traded down $0.14 during trading hours on Wednesday, hitting $26.29. 7,022,195 shares of the stock traded hands, compared to its average volume of 38,503,602. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The stock has a market capitalization of $148.99 billion, a price-to-earnings ratio of 35.53, a P/E/G ratio of 0.63 and a beta of 0.65. 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 $27.03 and its 200-day moving average price is $28.24.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) EPS. As a group, equities analysts expect that Pfizer will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling at Pfizer

In related news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated 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 acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently bought and sold shares of the company. Gladius Capital Management LP lifted its holdings in Pfizer by 102.8% in the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 38,015 shares during the last quarter. Quarry LP purchased a new stake in Pfizer in the 2nd quarter valued at about $31,000. Financial Connections Group Inc. purchased a new position in Pfizer during the second quarter worth about $34,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Pfizer in the 3rd quarter valued at approximately $35,000. Finally, Joseph Group Capital Management lifted its holdings 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 worth $36,000 after acquiring an additional 771 shares during 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.