Pfizer (NYSE:PFE) Price Target Cut to $44.00 by Analysts at Royal Bank of Canada

Pfizer (NYSE:PFE) had its price target cut by analysts at Royal Bank of Canada from $46.00 to $44.00 in a research report issued on Friday, AnalystRatings.com reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 42.39% from the company’s previous close.

A number of other research firms have also weighed in on PFE. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $37.00 price objective on shares of Pfizer in a research report on Tuesday, January 28th. Barclays initiated coverage on shares of Pfizer in a report on Thursday, February 27th. They issued an “equal weight” rating and a $36.00 target price for the company. Cantor Fitzgerald reissued a “buy” rating and set a $53.00 price target on shares of Pfizer in a research note on Thursday, March 19th. Mizuho restated a “buy” rating and issued a $42.00 price target on shares of Pfizer in a report on Wednesday, March 18th. Finally, Standpoint Research raised Pfizer from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Eight equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $41.19.

Shares of PFE traded down $0.85 during mid-day trading on Friday, reaching $30.90. 36,321,685 shares of the company’s stock were exchanged, compared to its average volume of 32,875,543. The business’s fifty day simple moving average is $34.16 and its 200-day simple moving average is $36.92. The stock has a market capitalization of $165.04 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 2.40 and a beta of 0.69. Pfizer has a 52-week low of $27.88 and a 52-week high of $44.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.88 and a quick ratio of 0.66.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, January 28th. The biopharmaceutical company reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). Pfizer had a return on equity of 27.01% and a net margin of 31.44%. The business had revenue of $12.69 billion for the quarter, compared to analysts’ expectations of $12.73 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Equities research analysts predict that Pfizer will post 2.8 earnings per share for the current year.

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $37.15 per share, for a total transaction of $37,150.00. Following the completion of the purchase, the director now directly owns 4,000 shares of the company’s stock, valued at $148,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Pfizer Inc bought 312,500 shares of the business’s stock in a transaction on Monday, March 16th. The stock was acquired at an average cost of $16.00 per share, for a total transaction of $5,000,000.00. The disclosure for this purchase can be found here. 0.08% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in PFE. State Street Corp lifted its holdings in Pfizer by 0.5% during the 4th quarter. State Street Corp now owns 291,791,099 shares of the biopharmaceutical company’s stock worth $11,432,375,000 after buying an additional 1,521,665 shares during the last quarter. Capital World Investors lifted its stake in Pfizer by 13.4% during the fourth quarter. Capital World Investors now owns 188,715,390 shares of the biopharmaceutical company’s stock worth $7,393,867,000 after purchasing an additional 22,232,056 shares during the last quarter. Geode Capital Management LLC lifted its stake in Pfizer by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 89,043,762 shares of the biopharmaceutical company’s stock worth $3,482,382,000 after purchasing an additional 1,630,039 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Pfizer by 4.9% during the fourth quarter. Bank of New York Mellon Corp now owns 59,763,050 shares of the biopharmaceutical company’s stock worth $2,341,517,000 after purchasing an additional 2,783,991 shares during the last quarter. Finally, Norges Bank acquired a new position in Pfizer in the fourth quarter worth $2,326,225,000. Institutional investors own 71.63% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It offers medicines and vaccines in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases under the Lyrica, Chantix/Champix, Eliquis, Ibrance, Sutent, Xalkori, Inlyta, Xtandi, Enbrel, Xeljanz, Eucrisa, BeneFix, Genotropin, and Refacto AF/Xyntha brands.

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