Pfizer (NYSE:PFE) Price Target Lowered to $26.00 at Bank of America

Pfizer (NYSE:PFE) had its price target decreased by Bank of America from $27.00 to $26.00 in a research report sent to investors on Friday,Benzinga reports. Bank of America currently has a neutral rating on the biopharmaceutical company’s stock.

A number of other analysts have also commented on PFE. Guggenheim lifted their price objective on Pfizer from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. CICC Research began coverage on shares of Pfizer in a research note on Thursday, April 16th. They issued an “outperform” rating and a $33.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Pfizer in a research report on Tuesday, June 23rd. Royal Bank Of Canada raised shares of Pfizer from an “underperform” rating to a “sector perform” rating and set a $25.00 price target for the company in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Pfizer from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fourteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Hold” and an average price target of $28.56.

Pfizer Price Performance

NYSE:PFE traded down $0.04 during mid-day trading on Friday, reaching $24.21. 27,476,453 shares of the company were exchanged, compared to its average volume of 47,734,172. Pfizer has a 12 month low of $23.11 and a 12 month high of $28.75. The company has a fifty day moving average of $25.37 and a 200 day moving average of $26.18. The company has a quick ratio of 0.94, a current ratio of 1.25 and a debt-to-equity ratio of 0.67. The stock has a market cap of $138.01 billion, a PE ratio of 18.48 and a beta of 0.35.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, May 5th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Pfizer had a net margin of 11.83% and a return on equity of 19.44%. The company had revenue of $14.45 billion during the quarter, compared to the consensus estimate of $13.84 billion. During the same period in the previous year, the firm posted $0.92 earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. Pfizer has set its FY 2026 guidance at 2.800-3.000 EPS. On average, research analysts anticipate that Pfizer will post 2.97 EPS for the current fiscal year.

Pfizer Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, July 24th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Friday, July 24th. Pfizer’s payout ratio is presently 131.30%.

Institutional Trading of Pfizer

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Pfizer in the fourth quarter worth $1,830,986,000. Morgan Stanley increased its position in shares of Pfizer by 19.2% in the 4th quarter. Morgan Stanley now owns 89,113,604 shares of the biopharmaceutical company’s stock valued at $2,218,929,000 after buying an additional 14,342,946 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Pfizer by 38.9% in the 4th quarter. Bank of New York Mellon Corp now owns 48,514,971 shares of the biopharmaceutical company’s stock valued at $1,208,023,000 after buying an additional 13,581,757 shares in the last quarter. Janus Henderson Group PLC raised its stake in Pfizer by 577.5% during the 4th quarter. Janus Henderson Group PLC now owns 8,786,084 shares of the biopharmaceutical company’s stock worth $218,817,000 after buying an additional 7,489,189 shares during the period. Finally, Capital World Investors raised its stake in Pfizer by 51.5% during the 4th quarter. Capital World Investors now owns 21,433,890 shares of the biopharmaceutical company’s stock worth $533,704,000 after buying an additional 7,287,194 shares during the period. 68.36% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Pfizer

Here are the key news stories impacting Pfizer this week:

• Positive Sentiment: The U.S. FDA approved PADCEV plus Keytruda for muscle-invasive bladder cancer, expanding the label for a key Pfizer/Astellas regimen and potentially opening the door to more sales in oncology. Article: U.S. FDA Approves PADCEV® plus Keytruda® as Neoadjuvant and Adjuvant Treatment for Muscle-Invasive Bladder Cancer Regardless of Cisplatin Eligibility
• Positive Sentiment: Pfizer’s oncology story also got incremental attention from a completed lorlatinib lung cancer study and other clinical updates, which keep investors focused on the company’s pipeline rather than only its mature products. Article: Pfizer’s Lorlatinib Lung Cancer Study Wraps Up, Offering Fresh Signals for PFE Investors
• Neutral Sentiment: Bank of America lowered its price target on Pfizer to $26 from $27 while keeping a neutral rating, signaling limited upside but no major change in its overall stance. Article: Pfizer had its price target lowered by Bank of America Corporation from $27.00 to $26.00.
• Negative Sentiment: Several market commentary pieces highlighted concerns about Pfizer’s growth outlook and mixed second-quarter expectations, including skepticism about how quickly Seagen-related benefits will show up in results. Article: Pfizer Poised for Mixed Second Quarter, RBC Says

About Pfizer

Pfizer Inc (NYSE: PFE) is a multinational biopharmaceutical company headquartered in New York City. Founded in 1849 by Charles Pfizer and Charles Erhart, the company researches, develops, manufactures and commercializes a broad range of medicines and vaccines for human health. Its activities span discovery research, clinical development, regulatory affairs, manufacturing and global commercial distribution across multiple therapeutic areas.

Pfizer’s portfolio and pipeline cover oncology, immunology, cardiology, endocrinology, rare diseases, hospital acute care and anti-infectives, along with a substantial vaccine business.