Pfizer (NYSE:PFE) Price Target Cut to $26.00 by Analysts at Bank of America

Pfizer (NYSE:PFEGet Free Report) had its price objective dropped by Bank of America from $27.00 to $26.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective indicates a potential downside of 5.02% from the stock’s previous close.

A number of other brokerages have also recently issued reports on PFE. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Pfizer in a report on Thursday, January 22nd. Wolfe Research set a $24.00 target price on Pfizer and gave the stock an “underperform” rating in a report on Wednesday, December 17th. Zacks Research raised Pfizer from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Pfizer in a report on Monday, March 9th. Finally, Barclays began coverage on Pfizer in a report on Thursday, February 19th. They issued an “underweight” rating and a $25.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, Pfizer has an average rating of “Hold” and an average price target of $28.10.

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Pfizer Price Performance

Shares of PFE stock traded down $0.10 on Thursday, hitting $27.38. 8,914,270 shares of the company’s stock were exchanged, compared to its average volume of 44,736,332. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.16 and a quick ratio of 0.87. Pfizer has a 12 month low of $21.08 and a 12 month high of $28.75. The stock has a market cap of $155.66 billion, a P/E ratio of 20.14 and a beta of 0.43. The company has a 50 day moving average of $27.17 and a 200 day moving average of $25.90.

Pfizer (NYSE:PFEGet Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The biopharmaceutical company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.09. Pfizer had a return on equity of 20.48% and a net margin of 12.42%.The business had revenue of $17.56 billion during the quarter, compared to the consensus estimate of $16.93 billion. During the same period in the prior year, the company earned $0.63 EPS. Pfizer’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Pfizer will post 2.95 EPS for the current year.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently made changes to their positions in PFE. Stance Capital LLC boosted its position in shares of Pfizer by 26,746.0% during the 4th quarter. Stance Capital LLC now owns 26,846 shares of the biopharmaceutical company’s stock valued at $668,000 after purchasing an additional 26,746 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Pfizer by 27.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,842,275 shares of the biopharmaceutical company’s stock valued at $45,873,000 after purchasing an additional 392,913 shares in the last quarter. World Investment Advisors boosted its position in shares of Pfizer by 11.2% during the 4th quarter. World Investment Advisors now owns 397,952 shares of the biopharmaceutical company’s stock valued at $9,909,000 after purchasing an additional 40,239 shares in the last quarter. Nalls Sherbakoff Group LLC bought a new stake in shares of Pfizer during the 4th quarter valued at about $92,000. Finally, DUTCH ASSET Corp bought a new stake in shares of Pfizer during the 4th quarter valued at about $237,000. Institutional investors and hedge funds own 68.36% of the company’s stock.

Pfizer News Roundup

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Pfizer Company Profile

(Get Free Report)

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.

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