SVB Leerink Increases Pfizer (NYSE:PFE) Price Target to $43.00

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Pfizer (NYSE:PFE) had its price target upped by investment analysts at SVB Leerink from $42.00 to $43.00 in a note issued to investors on Wednesday, Analyst Ratings Network reports. The firm presently has a “market perform” rating on the biopharmaceutical company’s stock. SVB Leerink’s price target points to a potential upside of 21.88% from the company’s current price. SVB Leerink also issued estimates for Pfizer’s Q4 2020 earnings at $0.57 EPS, Q1 2021 earnings at $0.65 EPS, Q3 2021 earnings at $0.72 EPS, Q4 2021 earnings at $0.67 EPS, FY2022 earnings at $2.70 EPS and FY2023 earnings at $2.80 EPS.

PFE has been the topic of several other reports. Royal Bank of Canada set a $43.00 target price on shares of Pfizer and gave the company a “buy” rating in a research report on Friday, October 16th. ValuEngine lowered shares of Pfizer from a “hold” rating to a “sell” rating in a research report on Thursday, July 30th. Truist assumed coverage on shares of Pfizer in a research report on Friday, October 23rd. They set a “buy” rating and a $42.00 target price on the stock. Morgan Stanley lifted their target price on shares of Pfizer from $36.00 to $42.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Finally, Atlantic Securities downgraded shares of Pfizer from an “overweight” rating to a “neutral” rating and cut their price target for the company from $44.00 to $39.00 in a report on Monday, October 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Pfizer presently has a consensus rating of “Hold” and an average target price of $39.66.

NYSE PFE opened at $35.28 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.42 and a quick ratio of 1.16. The firm has a market capitalization of $196.05 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 3.10 and a beta of 0.66. The company’s fifty day moving average is $36.74 and its two-hundred day moving average is $36.59. Pfizer has a 52-week low of $27.88 and a 52-week high of $40.97.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 27th. The biopharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Pfizer had a net margin of 28.80% and a return on equity of 25.11%. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.30 billion. During the same period last year, the business posted $0.75 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Pfizer will post 2.84 earnings per share for the current fiscal year.

In related news, Director Ronald E. Blaylock bought 13,000 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $38.55 per share, with a total value of $501,150.00. Following the completion of the purchase, the director now owns 4,000 shares in the company, valued at approximately $154,200. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Pfizer Inc bought 1,200,000 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was bought at an average cost of $10.00 per share, with a total value of $12,000,000.00. Following the completion of the purchase, the insider now owns 27,349,211 shares of the company’s stock, valued at approximately $273,492,110. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corbett Road Capital Management LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $25,000. Reitz Capital Advisors LLC acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $29,000. Rocky Mountain Advisers LLC grew its position in shares of Pfizer by 847.5% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 1,118 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 1,000 shares during the period. JJJ Advisors Inc. acquired a new stake in shares of Pfizer during the 2nd quarter worth approximately $44,000. Finally, NuWave Investment Management LLC grew its position in shares of Pfizer by 439.7% during the 3rd quarter. NuWave Investment Management LLC now owns 1,468 shares of the biopharmaceutical company’s stock worth $54,000 after buying an additional 1,196 shares during the period. 69.08% of the stock is owned by 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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