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

Pfizer (NYSE:PFE) had its price objective reduced by equities researchers at Citigroup from $30.00 to $29.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. Citigroup’s price target suggests a potential upside of 8.84% from the company’s current price.

Several other equities research analysts also recently weighed in on PFE. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a research report on Wednesday, October 30th. Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Pfizer in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Sanford C. Bernstein started coverage on 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, Guggenheim decreased their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $31.92.

Pfizer Stock Down 0.4 %

Shares of NYSE PFE opened at $26.65 on Tuesday. The firm has a market cap of $151.00 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 0.64 and a beta of 0.64. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The stock’s 50-day simple moving average is $26.18 and its 200-day simple moving average is $27.91.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) EPS. As a group, equities analysts anticipate that Pfizer will post 2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

A number of institutional investors have recently bought and sold shares of PFE. Beckerman Institutional LLC increased its position in shares of Pfizer by 27.2% in the fourth quarter. Beckerman Institutional LLC now owns 16,538 shares of the biopharmaceutical company’s stock worth $439,000 after acquiring an additional 3,540 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in Pfizer by 10.2% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 285,567 shares of the biopharmaceutical company’s stock worth $7,576,000 after purchasing an additional 26,433 shares during the period. Van ECK Associates Corp grew its position in Pfizer by 28.5% during the 4th quarter. Van ECK Associates Corp now owns 21,286,805 shares of the biopharmaceutical company’s stock worth $564,739,000 after purchasing an additional 4,726,549 shares in the last quarter. Harvey Capital Management Inc. acquired a new position in Pfizer during the fourth quarter valued at $544,000. Finally, Kentucky Trust Co purchased a new position in Pfizer during the 4th quarter valued at about $1,666,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.