Citigroup Issues Pessimistic Forecast for Pfizer (NYSE:PFE) Stock Price

Pfizer (NYSE:PFE) had its price objective lowered by equities research analysts at Citigroup from $30.00 to $29.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s target price suggests a potential upside of 7.98% from the company’s current price.

PFE has been the topic of several other research reports. UBS Group cut their price target on Pfizer from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Guggenheim reduced their target price on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research note on Wednesday, October 23rd. 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 price objective on the stock. Finally, Truist Financial dropped their target price on shares of Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Pfizer Trading Up 2.9 %

PFE stock opened at $26.86 on Tuesday. 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 stock has a market capitalization of $152.19 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 0.64 and a beta of 0.64. The business has a fifty day moving average price of $26.11 and a 200 day moving average price of $27.94. Pfizer has a fifty-two week low of $24.48 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data 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 firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. Analysts expect that Pfizer will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Pfizer news, Director Scott Gottlieb acquired 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 10,000 shares in the company, valued at $282,400. This trade represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.06% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pfizer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its holdings in Pfizer by 0.6% during the third quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after acquiring an additional 100,900 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Pfizer by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock worth $3,766,366,000 after purchasing an additional 12,864,343 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Pfizer by 80.9% in the 3rd quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock valued at $14,709,000 after buying an additional 227,349 shares during the last quarter. Addison Advisors LLC increased its holdings in Pfizer by 394.2% during the third quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock worth $1,512,000 after buying an additional 41,668 shares during the last quarter. Finally, KBC Group NV lifted its stake in Pfizer by 26.0% in the third quarter. KBC Group NV now owns 3,105,433 shares of the biopharmaceutical company’s stock valued at $89,872,000 after acquiring an additional 639,985 shares during the last quarter. 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.