UBS Group Issues Pessimistic Forecast for Pfizer (NYSE:PFE) Stock Price

Pfizer (NYSE:PFE) had its price objective reduced by analysts at UBS Group from $31.00 to $29.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the biopharmaceutical company’s stock. UBS Group’s price target indicates a potential upside of 8.29% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Truist Financial decreased their target price on Pfizer from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Evercore ISI upgraded shares of Pfizer to a “strong-buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. Guggenheim cut their price objective on shares of Pfizer from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Finally, Bank of America restated a “neutral” rating and set a $29.00 target price on shares of Pfizer in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Pfizer presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

Pfizer Trading Down 1.3 %

Shares of NYSE PFE traded down $0.35 during trading on Wednesday, hitting $26.78. 7,624,719 shares of the company traded hands, compared to its average volume of 30,082,521. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $151.76 billion, a P/E ratio of 36.19, a P/E/G ratio of 0.63 and a beta of 0.64. The company has a 50-day moving average price of $26.27 and a 200-day moving average price of $28.07. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54.

Pfizer (NYSE:PFE) last released its quarterly earnings data 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. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company had revenue of $17.70 billion during the quarter, compared to the consensus estimate of $14.92 billion. During the same period in the previous year, the firm earned ($0.17) earnings per share. Pfizer’s revenue for the quarter was up 31.2% on a year-over-year basis. On average, equities analysts predict that Pfizer will post 2.95 EPS for the current year.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Pfizer by 11.0% during the third 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. Marshall Wace LLP grew its stake in Pfizer by 279.3% during the 2nd quarter. Marshall Wace LLP now owns 5,378,173 shares of the biopharmaceutical company’s stock valued at $150,481,000 after acquiring an additional 8,378,173 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pfizer by 22.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock worth $1,101,713,000 after purchasing an additional 6,977,587 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Pfizer during the third quarter worth approximately $146,481,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Pfizer by 164.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 7,316,405 shares of the biopharmaceutical company’s stock valued at $211,737,000 after buying an additional 4,546,809 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

Pfizer Company Profile

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.