SVB Leerink Raises Pfizer (NYSE:PFE) Price Target to $42.00

Pfizer (NYSE:PFE) had its price target boosted by SVB Leerink from $39.00 to $42.00 in a research report report published on Wednesday morning, BenzingaRatingsTable reports. They currently have a market perform rating on the biopharmaceutical company’s stock. SVB Leerink also issued estimates for Pfizer’s Q2 2020 earnings at $0.72 EPS, Q4 2020 earnings at $0.68 EPS and FY2020 earnings at $2.94 EPS.

PFE has been the topic of several other research reports. Royal Bank of Canada reaffirmed a buy rating and set a $43.00 price objective on shares of Pfizer in a research note on Monday, July 20th. TheStreet upgraded Pfizer from a c+ rating to a b rating in a report on Monday, June 1st. Piper Sandler lifted their price objective on Pfizer from $18.50 to $24.00 in a report on Friday, June 26th. JPMorgan Chase & Co. decreased their price objective on Pfizer from $37.00 to $36.00 and set a neutral rating for the company in a research report on Monday, June 1st. Finally, Zacks Investment Research downgraded shares of Pfizer from a buy rating to a hold rating and set a $40.00 target price on the stock. in a report on Monday, May 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Pfizer presently has an average rating of Hold and an average target price of $38.95.

Shares of NYSE:PFE traded down $0.26 during mid-day trading on Wednesday, reaching $38.48. The stock had a trading volume of 27,042,691 shares, compared to its average volume of 32,108,124. The firm has a 50 day simple moving average of $34.75 and a two-hundred day simple moving average of $35.79. Pfizer has a twelve month low of $27.88 and a twelve month high of $40.97. The firm has a market cap of $213.75 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.12 and a beta of 0.68. The company has a current ratio of 1.02, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The firm had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.55 billion. Pfizer had a net margin of 28.80% and a return on equity of 25.10%. The business’s quarterly revenue was down 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.80 earnings per share. On average, equities analysts anticipate that Pfizer will post 2.89 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 31st will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, July 30th. This represents a $1.52 annualized dividend and a dividend yield of 3.95%. Pfizer’s dividend payout ratio is currently 51.53%.

In other news, SVP Jennifer B. Damico sold 2,181 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $36.13, for a total value of $78,799.53. Following the sale, the senior vice president now owns 7,542 shares of the company’s stock, valued at $272,492.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.08% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Argus Investors Counsel Inc. lifted its position in Pfizer by 5.3% during the second quarter. Argus Investors Counsel Inc. now owns 108,480 shares of the biopharmaceutical company’s stock valued at $3,547,000 after buying an additional 5,500 shares during the period. Monte Financial Group LLC raised its holdings in Pfizer by 540.9% in the first quarter. Monte Financial Group LLC now owns 93,388 shares of the biopharmaceutical company’s stock worth $3,048,000 after buying an additional 78,816 shares during the last quarter. Sanders Morris Harris LLC grew its holdings in shares of Pfizer by 27.0% during the first quarter. Sanders Morris Harris LLC now owns 31,823 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 6,775 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Pfizer by 28.3% during the first quarter. First Citizens Bank & Trust Co. now owns 206,716 shares of the biopharmaceutical company’s stock valued at $6,747,000 after acquiring an additional 45,638 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in Pfizer by 21.2% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 15,704 shares of the biopharmaceutical company’s stock worth $514,000 after acquiring an additional 2,744 shares during the last quarter. Institutional investors own 70.20% 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.

See Also: What does the Dogs of the Dow mean?

Analyst Recommendations for Pfizer (NYSE:PFE)

Receive News & Ratings for Pfizer Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pfizer and related companies with MarketBeat.com's FREE daily email newsletter.