Morgan Stanley Raises Pfizer (NYSE:PFE) Price Target to $29.00

Pfizer (NYSE:PFE) had its price target increased by investment analysts at Morgan Stanley from $28.00 to $29.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective points to a potential upside of 3.87% from the stock’s previous close.

PFE has been the topic of several other research reports. Guggenheim initiated coverage on Pfizer in a research report on Friday, February 23rd. They set a “buy” rating and a $36.00 price target on the stock. TD Cowen cut shares of Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 target price for the company. in a research note on Thursday, January 4th. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Monday, April 15th. Finally, Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Pfizer presently has an average rating of “Hold” and a consensus price target of $36.00.

Pfizer Stock Up 2.7 %

PFE traded up $0.74 during trading hours on Thursday, hitting $27.92. 36,980,057 shares of the company’s stock were exchanged, compared to its average volume of 42,540,176. The stock has a market cap of $158.10 billion, a price-to-earnings ratio of 77.25, a PEG ratio of 1.15 and a beta of 0.63. Pfizer has a 1-year low of $25.20 and a 1-year high of $40.37. The stock’s 50-day moving average is $26.87 and its two-hundred day moving average is $28.25. The company has a quick ratio of 0.69, a current ratio of 0.91 and a debt-to-equity ratio of 0.69.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. The company had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The company’s quarterly revenue was down 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. Sell-side analysts predict that Pfizer will post 2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

A number of large investors have recently added to or reduced their stakes in the stock. Trifecta Capital Advisors LLC grew its stake in Pfizer by 3.7% during the third quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company’s stock worth $305,000 after buying an additional 325 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Pfizer by 0.5% during the 3rd quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company’s stock worth $2,158,000 after acquiring an additional 342 shares in the last quarter. Carr Financial Group Corp increased its stake in Pfizer by 3.3% in the third quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company’s stock valued at $344,000 after acquiring an additional 355 shares during the last quarter. Caldwell Sutter Capital Inc. raised its position in Pfizer by 0.5% during the third quarter. Caldwell Sutter Capital Inc. now owns 69,794 shares of the biopharmaceutical company’s stock valued at $2,315,000 after purchasing an additional 364 shares in the last quarter. Finally, Advisor OS LLC lifted its stake in Pfizer by 1.0% during the fourth quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company’s stock worth $1,013,000 after purchasing an additional 365 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer Company Profile

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.