Pfizer (NYSE:PFE) PT Raised to $48.00 at Morgan Stanley

Pfizer (NYSE:PFE) had its target price increased by research analysts at Morgan Stanley from $45.00 to $48.00 in a report issued on Tuesday, The Fly reports. The firm currently has an “equal weight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 15.89% from the stock’s previous close.

A number of other research firms also recently commented on PFE. Mizuho reiterated a “hold” rating and issued a $43.00 target price on shares of Pfizer in a report on Sunday, October 3rd. Berenberg Bank restated a “neutral” rating and set a $43.00 price target on shares of Pfizer in a report on Tuesday, June 15th. SVB Leerink boosted their price target on shares of Pfizer from $49.00 to $50.00 and gave the company a “market perform” rating in a report on Monday, September 20th. JPMorgan Chase & Co. boosted their price target on shares of Pfizer from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, September 13th. Finally, Truist assumed coverage on shares of Pfizer in a report on Tuesday, July 27th. They set a “buy” rating and a $43.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.42.

NYSE PFE opened at $41.42 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 1.12. The company’s 50 day simple moving average is $45.45 and its 200 day simple moving average is $41.51. Pfizer has a 12 month low of $33.36 and a 12 month high of $51.86. The company has a market capitalization of $232.23 billion, a P/E ratio of 17.78, a PEG ratio of 1.58 and a beta of 0.74.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, July 28th. The biopharmaceutical company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.10. Pfizer had a net margin of 23.06% and a return on equity of 26.49%. The business had revenue of $18.98 billion for the quarter, compared to the consensus estimate of $17.54 billion. During the same period in the previous year, the firm earned $0.78 EPS. On average, analysts anticipate that Pfizer will post 4.12 earnings per share for the current year.

In related news, SVP Jennifer B. Damico sold 2,500 shares of the stock in a transaction that occurred on Friday, July 30th. The shares were sold at an average price of $42.86, for a total value of $107,150.00. Following the sale, the senior vice president now directly owns 11,430 shares in the company, valued at approximately $489,889.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jennifer B. Damico sold 1,661 shares of the stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $48.30, for a total transaction of $80,226.30. The disclosure for this sale can be found here. Corporate insiders own 0.05% of the company’s stock.

Several large investors have recently made changes to their positions in PFE. Castle Rock Wealth Management LLC raised its holdings in Pfizer by 3.8% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 5,756 shares of the biopharmaceutical company’s stock worth $277,000 after buying an additional 212 shares during the period. Providence Wealth Advisors LLC raised its holdings in Pfizer by 0.6% during the 2nd quarter. Providence Wealth Advisors LLC now owns 40,404 shares of the biopharmaceutical company’s stock worth $1,597,000 after buying an additional 230 shares during the period. TD Capital Management LLC raised its holdings in Pfizer by 12.0% during the 2nd quarter. TD Capital Management LLC now owns 2,183 shares of the biopharmaceutical company’s stock worth $85,000 after buying an additional 234 shares during the period. Oarsman Capital Inc. raised its holdings in Pfizer by 0.9% during the 2nd quarter. Oarsman Capital Inc. now owns 26,320 shares of the biopharmaceutical company’s stock worth $1,031,000 after buying an additional 234 shares during the period. Finally, Bollard Group LLC raised its holdings in Pfizer by 0.3% during the 2nd quarter. Bollard Group LLC now owns 80,350 shares of the biopharmaceutical company’s stock worth $3,147,000 after buying an additional 237 shares during the period. Institutional investors and hedge funds own 64.93% of the company’s stock.

About Pfizer

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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