Pfizer (NYSE:PFE) Shares Down 0.8%

Pfizer Inc. (NYSE:PFE) shares traded down 0.8% during mid-day trading on Wednesday . The stock traded as low as $25.68 and last traded at $25.69. 28,885,313 shares traded hands during trading, a decline of 14% from the average session volume of 33,467,946 shares. The stock had previously closed at $25.91.

Analysts Set New Price Targets

PFE has been the topic of several recent research reports. Argus cut Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. TD Cowen cut Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research note on Thursday, January 4th. Guggenheim initiated coverage on Pfizer in a research note on Friday, February 23rd. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Pfizer has an average rating of “Hold” and a consensus price target of $36.88.

Pfizer Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.91 and a quick ratio of 0.69. The business has a 50-day simple moving average of $27.14 and a 200 day simple moving average of $28.74. The firm has a market cap of $143.74 billion, a PE ratio of 70.51, a PEG ratio of 1.15 and a beta of 0.61.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.29. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. The firm had revenue of $14.25 billion during the quarter, compared to analysts’ expectations of $14.37 billion. During the same quarter last year, the business posted $1.14 earnings per share. The firm’s revenue was down 41.3% on a year-over-year basis. Equities research analysts forecast that Pfizer Inc. will post 2.24 EPS for the current year.

Institutional Trading of Pfizer

Institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. grew its position in shares of Pfizer by 40.5% during the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock worth $157,215,000 after purchasing an additional 1,365,295 shares in the last quarter. LifePlan Financial LLC purchased a new position in Pfizer during the 4th quarter valued at approximately $255,000. Brookstone Capital Management grew its holdings in Pfizer by 88.5% during the 3rd quarter. Brookstone Capital Management now owns 452,352 shares of the biopharmaceutical company’s stock valued at $14,109,000 after buying an additional 212,369 shares in the last quarter. ETF Store Inc. grew its holdings in Pfizer by 12.0% during the 3rd quarter. ETF Store Inc. now owns 6,803 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 727 shares in the last quarter. Finally, KLCM Advisors Inc. grew its holdings in Pfizer by 75.0% during the 4th quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after buying an additional 74,487 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.