UBS Group Has Lowered Expectations for Pfizer (NYSE:PFE) Stock Price

Pfizer (NYSE:PFE) had its price target decreased by investment analysts at UBS Group from $31.00 to $29.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. UBS Group’s price objective indicates a potential upside of 8.29% from the company’s previous close.

Several other research analysts have also recently commented on the company. Citigroup assumed coverage on Pfizer in a research report on Friday, October 25th. They issued a “neutral” rating and a $30.00 target price for the company. StockNews.com lowered shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. Bank of America restated a “neutral” rating and issued a $29.00 price target on shares of Pfizer in a research report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price objective on shares of Pfizer in a report on Wednesday, October 23rd. Finally, Guggenheim reduced their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Stock Down 1.3 %

PFE traded down $0.35 during midday trading on Wednesday, hitting $26.78. 7,624,719 shares of the company’s stock traded hands, compared to its average volume of 30,082,521. 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 company has a market cap of $151.76 billion, a PE ratio of 36.19, a price-to-earnings-growth ratio of 0.63 and a beta of 0.64. The stock’s fifty day simple moving average is $26.27 and its 200-day simple moving average is $28.07. Pfizer has a one year low of $24.48 and a one year high of $31.54.

Pfizer (NYSE:PFE) last posted its earnings results 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 company 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 revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. As a group, equities analysts anticipate that Pfizer will post 2.95 earnings per share for the current fiscal year.

Insider Activity at Pfizer

In other news, Director Scott Gottlieb purchased 1,000 shares of Pfizer stock in a transaction dated Wednesday, October 30th. The shares were bought at an average cost 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Pfizer

Hedge funds and other institutional investors have recently modified their holdings of the stock. Swiss National Bank raised its position 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. raised its holdings in shares of Pfizer by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after purchasing an additional 12,864,343 shares during the period. Empowered Funds LLC lifted its stake in 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 purchasing an additional 227,349 shares during the last quarter. Addison Advisors LLC raised its stake in Pfizer by 394.2% in the 3rd quarter. Addison Advisors LLC now owns 52,238 shares of the biopharmaceutical company’s stock valued at $1,512,000 after acquiring an additional 41,668 shares during the period. Finally, KBC Group NV raised its holdings in Pfizer by 26.0% in the 3rd 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 period. 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.