Pfizer (NYSE:PFE) has been assigned a $45.00 price target by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 4.63% from the company’s previous close.
The analysts wrote, “. After speaking with five oncologists, we see two growth drivers for Ibrance that represent meaningful upside to consensus sales and our numbers. These opportunities include: OUS expansion and the use of Ibrance in the earlier-stage adjuvant setting. Our discussions focused on answering the following questions: (1) What is the remaining growth/market penetration opportunity for CDK 4/6s in the currently approved indications?; (2) How much share erosion can we expect from other CDK 4/6s such as How high is physician conviction for PALLAS and How much will positive outcomes increase usage? Below we highlight our key takeaways.””
PFE has been the topic of a number of other research reports. Credit Suisse Group increased their price objective on Pfizer from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 1st. Morgan Stanley set a $45.00 price objective on Pfizer and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Bank of America raised their price target on Pfizer from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Zacks Investment Research downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Finally, JPMorgan Chase & Co. restated a “$37.66” rating on shares of Pfizer in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $41.89.
Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. Pfizer had a return on equity of 25.35% and a net margin of 42.35%. The company had revenue of $13.47 billion for the quarter, compared to the consensus estimate of $13.30 billion. During the same quarter last year, the business posted $0.67 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year. sell-side analysts forecast that Pfizer will post 2.99 EPS for the current fiscal year.
In other news, insider Sally Susman sold 40,381 shares of the firm’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $37.22, for a total transaction of $1,502,980.82. Following the transaction, the insider now directly owns 155,377 shares of the company’s stock, valued at $5,783,131.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ian C. Read sold 486,753 shares of the firm’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $37.36, for a total value of $18,185,092.08. Following the transaction, the chief executive officer now directly owns 1,145,693 shares in the company, valued at $42,803,090.48. The disclosure for this sale can be found here. Insiders have sold 761,230 shares of company stock worth $29,054,690 over the last ninety days. Insiders own 0.06% of the company’s stock.
Large investors have recently made changes to their positions in the company. HC Financial Advisors Inc. bought a new stake in shares of Pfizer in the fourth quarter worth about $2,685,000. West Chester Capital Advisors Inc. bought a new stake in Pfizer during the 4th quarter valued at approximately $470,000. Brown Advisory Securities LLC boosted its position in Pfizer by 2.2% during the 4th quarter. Brown Advisory Securities LLC now owns 72,085 shares of the biopharmaceutical company’s stock valued at $2,605,000 after acquiring an additional 1,556 shares in the last quarter. Mutual Advisors LLC bought a new stake in Pfizer during the 4th quarter valued at approximately $1,036,000. Finally, Day & Ennis LLC boosted its position in Pfizer by 9.8% during the 4th quarter. Day & Ennis LLC now owns 25,213 shares of the biopharmaceutical company’s stock valued at $913,000 after acquiring an additional 2,250 shares in the last quarter. 69.14% of the stock is currently owned by hedge funds and other institutional investors.
Pfizer Company Profile
Pfizer Inc discovers, develops, manufactures, and sells healthcare products worldwide. It operates in two segments, Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The IH segment focuses on the development and commercialization of medicines and vaccines, and consumer healthcare products in various therapeutic areas, including internal medicine, vaccines, oncology, inflammation and immunology, and rare diseases, as well as consumer healthcare, such as over-the-counter brands comprising dietary supplements, pain management, gastrointestinal, and respiratory and personal care.
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