Pfizer (NYSE:PFE) Given New $29.00 Price Target at Morgan Stanley

Pfizer (NYSE:PFE - Get Free Report) had its price objective boosted by analysts at Morgan Stanley from $28.00 to $29.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an "equal weight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price indicates a potential upside of 4.69% from the stock's current price.

Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $36.00 price target (up previously from $33.00) on shares of Pfizer in a research note on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $45.00 price target on shares of Pfizer in a research note on Monday, April 15th. Guggenheim assumed coverage on shares of Pfizer in a research note on Friday, February 23rd. They set a "buy" rating and a $36.00 price target on the stock. TD Cowen downgraded shares of 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. Finally, Argus downgraded shares of Pfizer from a "buy" rating to a "hold" rating in a research report on Friday, March 22nd. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $36.00.

Pfizer Stock Up 1.9 %

Shares of NYSE:PFE traded up $0.52 during midday trading on Thursday, hitting $27.70. 63,855,289 shares of the company's stock traded hands, compared to its average volume of 42,875,957. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The company has a market cap of $156.85 billion, a PE ratio of 76.94, a P/E/G ratio of 1.15 and a beta of 0.63. The firm's fifty day moving average price is $26.88 and its two-hundred day moving average price is $28.25. Pfizer has a twelve month low of $25.20 and a twelve month high of $40.37.

Pfizer (NYSE:PFE - Get Free Report) last posted its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. Pfizer had a net margin of 3.62% and a return on equity of 10.88%. The business had revenue of $14.88 billion for the quarter, compared to analyst estimates of $13.87 billion. During the same quarter in the previous year, the business posted $1.23 EPS. The business's quarterly revenue was down 19.5% on a year-over-year basis. On average, equities research analysts anticipate that Pfizer will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Pfizer

A number of institutional investors have recently modified their holdings of the business. Trifecta Capital Advisors LLC boosted its stake in Pfizer by 3.7% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 9,197 shares of the biopharmaceutical company's stock valued at $305,000 after purchasing an additional 325 shares during the period. Confluence Wealth Services Inc. boosted its stake in Pfizer by 0.5% during the 3rd quarter. Confluence Wealth Services Inc. now owns 65,053 shares of the biopharmaceutical company's stock valued at $2,158,000 after purchasing an additional 342 shares during the period. Carr Financial Group Corp boosted its stake in Pfizer by 3.3% during the 3rd quarter. Carr Financial Group Corp now owns 11,012 shares of the biopharmaceutical company's stock valued at $344,000 after purchasing an additional 355 shares during the period. Caldwell Sutter Capital Inc. boosted its stake in Pfizer by 0.5% during the 3rd quarter. Caldwell Sutter Capital Inc. now owns 69,794 shares of the biopharmaceutical company's stock valued at $2,315,000 after purchasing an additional 364 shares during the period. Finally, Advisor OS LLC boosted its stake in Pfizer by 1.0% during the 4th quarter. Advisor OS LLC now owns 35,202 shares of the biopharmaceutical company's stock valued at $1,013,000 after purchasing an additional 365 shares during the period. Institutional investors own 68.36% of the company's stock.

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.