Pfizer (PFE) Given New $48.00 Price Target at Bank of America

Pfizer (NYSE:PFE) had its target price increased by Bank of America from $45.00 to $48.00 in a research report released on Monday, April 1st, Stock Target Advisor reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also weighed in on PFE. Cantor Fitzgerald set a $53.00 price objective on shares of Pfizer and gave the company a buy rating in a report on Sunday, December 30th. Argus upgraded shares of Pfizer from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Thursday, January 31st. JPMorgan Chase & Co. lowered shares of Pfizer from an overweight rating to a neutral rating and set a $46.00 price objective on the stock. in a report on Tuesday, December 11th. Zacks Investment Research lowered shares of Pfizer from a hold rating to a sell rating in a report on Friday, January 25th. Finally, Credit Suisse Group reiterated a neutral rating and issued a $45.00 target price on shares of Pfizer in a report on Monday, January 28th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $45.61.

Pfizer stock traded down $0.05 during trading hours on Monday, hitting $39.37. 20,109,900 shares of the stock were exchanged, compared to its average volume of 24,662,238. The company has a current ratio of 1.57, a quick ratio of 1.33 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $235.26 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 2.37 and a beta of 0.75. Pfizer has a 12 month low of $34.37 and a 12 month high of $46.47.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, January 29th. The biopharmaceutical company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Pfizer had a net margin of 20.79% and a return on equity of 26.02%. The business had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $13.92 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. Pfizer’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts predict that Pfizer will post 2.86 EPS for the current year.

In related news, insider Alexander R. Mackenzie sold 15,000 shares of Pfizer stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $42.83, for a total transaction of $642,450.00. Following the completion of the sale, the insider now owns 124,994 shares of the company’s stock, valued at approximately $5,353,493.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Douglas M. Lankler sold 5,000 shares of Pfizer stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $42.75, for a total transaction of $213,750.00. Following the sale, the executive vice president now directly owns 83,592 shares of the company’s stock, valued at approximately $3,573,558. The disclosure for this sale can be found here. In the last three months, insiders sold 332,526 shares of company stock valued at $14,346,539. Insiders own 0.09% of the company’s stock.

A number of institutional investors have recently modified their holdings of PFE. Financial Gravity Wealth Inc. bought a new stake in shares of Pfizer during the 1st quarter valued at approximately $33,000. Advocacy Wealth Management Services LLC grew its holdings in Pfizer by 48.2% during the 4th quarter. Advocacy Wealth Management Services LLC now owns 793 shares of the biopharmaceutical company’s stock worth $35,000 after acquiring an additional 258 shares during the last quarter. Winch Advisory Services LLC grew its holdings in Pfizer by 69.6% during the 4th quarter. Winch Advisory Services LLC now owns 819 shares of the biopharmaceutical company’s stock worth $36,000 after acquiring an additional 336 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Pfizer during the 4th quarter worth approximately $40,000. Finally, Ruggie Capital Group bought a new stake in Pfizer during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 69.49% of the company’s stock.

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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