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

Pfizer (NYSE:PFE) had its price target cut by Truist Financial from $36.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective suggests a potential upside of 21.72% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Citigroup began coverage on shares of Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Guggenheim lowered their target price on Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. Finally, StockNews.com downgraded shares of Pfizer from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus price target of $32.14.

Pfizer Stock Down 0.5 %

Shares of PFE stock traded down $0.14 during mid-day trading on Wednesday, hitting $26.29. The company’s stock had a trading volume of 7,022,195 shares, compared to its average volume of 38,503,602. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. Pfizer has a 52-week low of $24.48 and a 52-week high of $31.54. The stock has a market cap of $148.99 billion, a price-to-earnings ratio of 35.53, a PEG ratio of 0.63 and a beta of 0.65. The business has a 50-day moving average price of $27.03 and a 200 day moving average price of $28.24.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.42. The company had revenue of $17.70 billion for 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 firm’s quarterly revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) earnings per share. Research analysts predict that Pfizer will post 2.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 10,000 shares of the company’s stock, valued at $282,400. The trade was a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Swiss National Bank grew its position in shares of Pfizer by 0.6% in the 3rd quarter. Swiss National Bank now owns 16,819,712 shares of the biopharmaceutical company’s stock worth $486,762,000 after buying an additional 100,900 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 valued at $3,766,366,000 after buying an additional 12,864,343 shares in the last quarter. Empowered Funds LLC boosted its holdings in Pfizer by 80.9% in the third quarter. Empowered Funds LLC now owns 508,256 shares of the biopharmaceutical company’s stock worth $14,709,000 after acquiring an additional 227,349 shares in the last quarter. Addison Advisors LLC grew its stake in shares of 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 acquiring an additional 41,668 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Pfizer by 26.0% during 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 in the last quarter. 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.