Morgan Stanley cuts Pfizer (NYSE:PFE) price target to $49.00


Pfizer (NYSE: PFE – Get a Note) had its price target lowered by Morgan Stanley stock research analysts from $52.00 to $49.00 in a report on Friday, reports The Fly. The brokerage currently has an “equal weight” rating on shares of the biopharmaceutical company. Morgan Stanley’s price target indicates a potential decline of 7.84% from the company’s current price.

Several other equity research analysts have also recently released reports on the PFE. SVB Leerink began covering Pfizer shares in a research report on Monday, May 23. They issued a “market performance” rating and a price target of $55.00 for the company. Wells Fargo & Company lowered its price target on Pfizer shares from $60.00 to $55.00 in a Wednesday, May 4, research report. Berenberg Bank set a price target of $50.00 on Pfizer shares in a research report on Friday, May 27. Goldman Sachs Group set a price target of $51.00 on Pfizer shares in a research report on Wednesday, May 25. Finally, Barclays set a price target of $52.00 on Pfizer shares in a research report on Thursday. Nine research analysts gave the stock a hold rating, ten gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.95.

PFE stock opened at $53.17 on Friday. Pfizer has a 12-month low of $39.46 and a 12-month high of $61.71. The company has a current ratio of 1.39, a quick ratio of 1.13 and a debt ratio of 0.43. The company has a 50-day moving average price of $50.98 and a 200-day moving average price of $51.84. The stock has a market capitalization of $298.33 billion, a PE ratio of 12.19, a P/E/G ratio of 0.65 and a beta of 0.73.

Pfizer (NYSE:PFE – Get Rating) last released its quarterly results on Tuesday, May 3. The biopharmaceutical company reported EPS of $1.62 for the quarter, missing analyst consensus estimates of $1.66 per ($0.04). Pfizer had a return on equity of 38.29% and a net margin of 26.97%. The company posted revenue of $25.66 billion for the quarter, versus $24.73 billion expected by analysts. In the same period a year earlier, the company posted earnings per share of $0.93. Pfizer’s revenue for the quarter increased 76.8% year over year. Sell-side analysts expect Pfizer to post EPS of 6.63 for the current year.

In other news, Executive Vice Chairman William R. Carapezzi, Jr. sold 32,908 shares of the company in a trade Thursday, May 12. The shares were sold at an average price of $50.00, for a total value of $1,645,400.00. Following the sale, the executive vice president now directly owns 38,146 shares of the company, valued at approximately $1,907,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, SVP Jennifer B. Damico sold 4,218 shares of the company in a trade on Tuesday, June 7. The shares were sold at an average price of $53.96, for a total transaction of $227,603.28. Following the completion of the sale, the Senior Vice President now directly owns 10,846 shares of the company, valued at $585,250.16. The disclosure of this sale can be found here. Insiders sold a total of 41,126 shares of the company worth $2,075,003 in the past 90 days. 0.05% of the shares are currently held by insiders of the company.

Hedge funds and other institutional investors have recently changed their positions in the stock. Ullmann Wealth Partners Group LLC increased its stake in Pfizer by 6.2% in the first quarter. Ullmann Wealth Partners Group LLC now owns 5,759 shares of the biopharmaceutical company worth $298,000 after buying 335 additional shares last quarter. Red Door Wealth Management LLC increased its stake in Pfizer by 8.6% during the first quarter. Red Door Wealth Management LLC now owns 109,620 shares of the biopharmaceutical company valued at $5,675,000 after buying 8,694 additional shares last quarter. Capital City Trust Co. FL increased its stake in Pfizer by 49.9% during the first quarter. Capital City Trust Co. FL now owns 8,464 shares of the biopharmaceutical company valued at $438,000 after buying 2,816 additional shares last quarter. Colonial River Wealth Management LLC raised its position in Pfizer shares 52.3% in the first quarter. Colonial River Wealth Management LLC now owns 20,988 shares of the biopharmaceutical company valued at $1,087,000 after purchasing an additional 7,206 shares in the last quarter. Finally, Annex Advisory Services LLC increased its position in Pfizer shares by 23.6% in the first quarter. Annex Advisory Services LLC now owns 10,279 shares of the biopharmaceutical company valued at $532,000 after purchasing an additional 1,966 shares in the last quarter. 66.50% of the shares are currently held by hedge funds and other institutional investors.

About Pfizer (Get an evaluation)

Pfizer Inc discovers, develops, manufactures, markets, distributes and sells biopharmaceuticals worldwide. It offers drugs and vaccines in various therapeutic areas, including cardiovascular, metabolic and women’s health under the Premarin Family and Eliquis brands; biologics, small molecules, immunotherapies and biosimilars under the brands Ibrance, Xtandi, Sutent, Inlyta, Retacrit, Lorbrena and Braftovi; and sterile injectable and anti-infective drugs, and oral COVID-19 treatment under the brands Sulperazon, Medrol, Zavicefta, Zithromax, Vfend, Panzyga and Paxlovid.

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Richard L. Militello