Pfizer (NYSE:PFE) Given New $35.00 Price Target at Barclays

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Pfizer (NYSE:PFE) had its price objective cut by equities research analysts at Barclays from $37.00 to $35.00 in a research report issued on Monday, The Fly reports. Barclays‘s price target would indicate a potential downside of 1.30% from the stock’s current price.

Several other brokerages also recently weighed in on PFE. Cantor Fitzgerald reiterated a “buy” rating and issued a $53.00 price target on shares of Pfizer in a report on Thursday, March 19th. JPMorgan Chase & Co. reduced their price target on Pfizer from $37.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday. Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a report on Monday, May 4th. Mizuho restated a “buy” rating and set a $42.00 price objective on shares of Pfizer in a report on Monday, May 18th. Finally, Standpoint Research upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $41.03.

PFE stock traded down $2.73 during midday trading on Monday, reaching $35.46. 72,936,628 shares of the company traded hands, compared to its average volume of 29,408,492. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.02. The business has a 50 day moving average of $37.10 and a 200-day moving average of $36.82. Pfizer has a 52-week low of $27.88 and a 52-week high of $44.56. The firm has a market capitalization of $212.14 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 2.79 and a beta of 0.70.

Pfizer (NYSE:PFE) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Pfizer had a return on equity of 25.76% and a net margin of 31.17%. The firm had revenue of $12.03 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same period in the prior year, the business posted $0.85 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Research analysts anticipate that Pfizer will post 2.8 earnings per share for the current year.

In related news, major shareholder Pfizer Inc bought 312,500 shares of the company’s stock in a transaction on Monday, March 16th. The shares were acquired at an average price of $16.00 per share, with a total value of $5,000,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jennifer B. Damico sold 2,181 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $38.35, for a total value of $83,641.35. Following the sale, the senior vice president now directly owns 9,647 shares in the company, valued at approximately $369,962.45. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Formidable Asset Management LLC boosted its position in shares of Pfizer by 8.2% in the 1st quarter. Formidable Asset Management LLC now owns 44,455 shares of the biopharmaceutical company’s stock worth $1,451,000 after purchasing an additional 3,365 shares in the last quarter. Seascape Capital Management boosted its position in shares of Pfizer by 115.2% in the 1st quarter. Seascape Capital Management now owns 11,771 shares of the biopharmaceutical company’s stock worth $384,000 after purchasing an additional 6,300 shares in the last quarter. CVA Family Office LLC boosted its position in shares of Pfizer by 8.3% in the 1st quarter. CVA Family Office LLC now owns 6,567 shares of the biopharmaceutical company’s stock worth $214,000 after purchasing an additional 506 shares in the last quarter. Optimal Asset Management Inc. boosted its position in shares of Pfizer by 150.4% in the 1st quarter. Optimal Asset Management Inc. now owns 101,430 shares of the biopharmaceutical company’s stock worth $3,311,000 after purchasing an additional 60,925 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Pfizer by 8.7% in the 1st quarter. State of Tennessee Treasury Department now owns 2,001,133 shares of the biopharmaceutical company’s stock worth $65,317,000 after purchasing an additional 160,203 shares in the last quarter. 70.28% of the stock is owned by hedge funds and other institutional investors.

Pfizer Company Profile

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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