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

Pfizer (NYSE:PFE) had its price target reduced by analysts at Guggenheim from $35.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Guggenheim’s price objective would indicate a potential upside of 29.97% from the stock’s previous close.

Several other brokerages also recently weighed in on PFE. Wolfe Research started coverage on Pfizer in a research note on Friday, November 15th. They set an “underperform” rating and a $25.00 target price for the company. StockNews.com downgraded Pfizer from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein started coverage on shares of Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.43.

Pfizer Trading Down 0.7 %

Shares of Pfizer stock traded down $0.18 during trading hours on Wednesday, reaching $25.39. 12,341,982 shares of the company’s stock were exchanged, compared to its average volume of 38,410,316. Pfizer has a 52-week low of $24.48 and a 52-week high of $31.54. The firm has a market capitalization of $143.88 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 0.71 and a beta of 0.65. The company has a fifty day moving average of $27.35 and a 200-day moving average of $28.33. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.42. The business had revenue of $17.70 billion for 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%. The business’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. Sell-side analysts forecast that Pfizer will post 2.96 EPS for the current fiscal year.

Insider Buying and Selling at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were acquired at an average price of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new position in Pfizer in the second quarter valued at about $29,000. Gladius Capital Management LP lifted its position in shares of 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 purchasing an additional 38,015 shares in the last quarter. Quarry LP acquired a new position in shares of Pfizer during the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new position in shares of Pfizer during the second quarter worth approximately $34,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Pfizer during the third quarter worth approximately $35,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.