Pfizer (NYSE:PFE) Stock Falls 1.1% – Here’s What Happened

Pfizer Inc. (NYSE:PFE)’s share price was down 1.1% on Wednesday. The company traded as low as $29.22 and last traded at $29.4580. Approximately 26,282,167 shares changed hands during trading, a decline of 34% from the average session volume of 39,633,066 shares. The stock had previously closed at $29.80.

Key Stories Impacting Pfizer

Here are the key news stories impacting Pfizer this week:

• Positive Sentiment: ELREXFIO delivers another Phase 3 success: Pfizer said its MagnetisMM-32 trial met its primary endpoint, demonstrating a statistically significant and clinically meaningful progression-free survival benefit versus standard regimens in relapsed or refractory multiple myeloma. The result could support broader use and future regulatory submissions for ELREXFIO. Pfizer ELREXFIO Phase 3 trial results
• Positive Sentiment: Expanded prostate-cancer opportunity: The FDA expanded approval of TALZENNA combined with XTANDI for earlier-line treatment of metastatic prostate cancer patients with HRR gene mutations. The decision increases the addressable market for the oncology portfolio and was based on positive Phase 3 data. FDA approval for Talzenna and Xtandi
• Positive Sentiment: Analyst and earnings optimism: Scotiabank and Jefferies reportedly issued Buy ratings, while previews suggest Pfizer could beat upcoming earnings expectations, supported by strong non-COVID drug sales and an attractive valuation. Scotiabank Buy rating
• Neutral Sentiment: Q3 earnings are the next major catalyst: Investors will look for evidence that Pfizer’s core portfolio can offset fading COVID-product revenue, as well as updated guidance and commentary on patent expirations.
• Neutral Sentiment: Former Pfizer technology chief Lidia Fonseca was elected to ManpowerGroup’s board, a corporate development with limited direct financial impact on Pfizer. ManpowerGroup elects Lidia Fonseca
• Negative Sentiment: Safety concerns temper the ELREXFIO news: Coverage of the latest trial highlighted higher infection rates, while median progression-free survival had not yet been reached. Investors may therefore want more detailed safety and durability data before assigning substantial value to the result. ELREXFIO trial infection concerns
• Negative Sentiment: Pfizer continues to face declining COVID revenues and upcoming patent expirations, creating pressure on long-term growth even as oncology sales and new approvals improve its pipeline.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PFE. HSBC boosted their price target on Pfizer from $28.00 to $30.00 and gave the company a “hold” rating in a report on Thursday, September 10th. JPMorgan Chase & Co. lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 9th. Cantor Fitzgerald boosted their target price on Pfizer from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, October 8th. Bank of America decreased their target price on Pfizer from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Finally, Weiss Ratings raised Pfizer from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Five analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.72.

Pfizer Price Performance

The stock has a market cap of $167.90 billion, a P/E ratio of 38.76, a price-to-earnings-growth ratio of 2.04 and a beta of 0.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.96 and a current ratio of 1.27. The firm has a 50-day moving average price of $28.42 and a 200-day moving average price of $26.72.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, August 4th. The biopharmaceutical company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.09. Pfizer had a net margin of 6.80% and a return on equity of 19.63%. The business had revenue of $15.03 billion during the quarter, compared to the consensus estimate of $14.40 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, analysts forecast that Pfizer Inc. will post 2.94 earnings per share for the current fiscal year.

Pfizer Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 6th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.72 annualized dividend and a dividend yield of 5.8%. Pfizer’s dividend payout ratio is presently 226.32%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Pfizer by 6.3% during the 2nd quarter. BlackRock Inc. now owns 529,670,433 shares of the biopharmaceutical company’s stock valued at $12,754,464,000 after buying an additional 31,412,883 shares in the last quarter. State Street Corp grew its holdings in shares of Pfizer by 1.8% in the second quarter. State Street Corp now owns 307,090,897 shares of the biopharmaceutical company’s stock valued at $7,394,749,000 after purchasing an additional 5,501,032 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Pfizer by 11.1% in the 1st quarter. Bank of New York Mellon Corp now owns 53,879,900 shares of the biopharmaceutical company’s stock worth $1,512,948,000 after buying an additional 5,364,929 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Pfizer in the 2nd quarter valued at approximately $1,049,602,000. Finally, Dimensional Fund Advisors LP boosted its stake in Pfizer by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 36,422,799 shares of the biopharmaceutical company’s stock worth $1,022,606,000 after buying an additional 293,029 shares during the period. Institutional investors own 68.36% of the company’s stock.

Pfizer Company Profile

Pfizer Inc is a global biopharmaceutical company that discovers, develops, manufactures and commercializes prescription medicines and vaccines. Its research activities span areas including oncology, internal medicine, inflammation and immunology, hospital care, infectious diseases and rare diseases.

The company’s portfolio includes medicines such as Eliquis, Ibrance, Prevnar and Vyndaqel, as well as vaccines including Comirnaty, Abrysvo and Prevnar. Pfizer also develops treatments through internal research, licensing agreements and collaborations with other pharmaceutical and biotechnology companies.

Founded in Brooklyn, New York, in 1849 by Charles Pfizer and Charles Erhart, Pfizer has grown into an international healthcare company serving patients and healthcare providers in markets around the world.