Pfizer (PFE) Given a $45.00 Price Target by Cantor Fitzgerald Analysts
Cantor Fitzgerald set a $45.00 price target on Pfizer (NYSE:PFE) in a report published on Thursday, September 13th, MarketBeat Ratings reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
“. 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.”,” the firm’s analyst commented.
A number of other research firms have also issued reports on PFE. JPMorgan Chase & Co. set a $42.00 price target on shares of Pfizer and gave the stock a buy rating in a research report on Monday, September 10th. Deutsche Bank set a $45.00 price target on shares of Pfizer and gave the stock a buy rating in a research report on Tuesday, August 21st. Morgan Stanley set a $45.00 price target on shares of Pfizer and gave the stock a buy rating in a research report on Thursday, August 23rd. Barclays increased their price objective on Pfizer from $38.00 to $40.00 and gave the stock a neutral rating in a report on Thursday, August 23rd. Finally, BMO Capital Markets restated a buy rating and issued a $44.00 price objective on shares of Pfizer in a report on Monday, August 27th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have given a buy rating to the stock. Pfizer presently has a consensus rating of Hold and a consensus target price of $42.40.
Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Pfizer had a net margin of 42.35% and a return on equity of 25.35%. The company had revenue of $13.47 billion during the quarter, compared to analyst estimates of $13.30 billion. During the same period in the prior year, the firm earned $0.67 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts anticipate that Pfizer will post 2.99 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Friday, November 9th will be issued a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $1.36 annualized dividend and a yield of 3.03%. Pfizer’s dividend payout ratio (DPR) is presently 51.32%.
In other news, insider Sally Susman sold 40,381 shares of the firm’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $37.22, for a total value of $1,502,980.82. Following the sale, the insider now owns 155,377 shares in the company, valued at $5,783,131.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ian C. Read sold 486,753 shares of the firm’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $37.36, for a total transaction of $18,185,092.08. Following the completion of the sale, the chief executive officer now owns 1,145,693 shares in the company, valued at approximately $42,803,090.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 761,230 shares of company stock worth $29,054,690. Corporate insiders own 0.06% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. AXA lifted its position in Pfizer by 9.2% in the fourth quarter. AXA now owns 5,188,453 shares of the biopharmaceutical company’s stock worth $187,926,000 after purchasing an additional 438,040 shares during the period. Naples Global Advisors LLC lifted its position in Pfizer by 5.4% in the second quarter. Naples Global Advisors LLC now owns 33,695 shares of the biopharmaceutical company’s stock worth $1,222,000 after purchasing an additional 1,712 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Pfizer by 25.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 285,325 shares of the biopharmaceutical company’s stock worth $10,352,000 after purchasing an additional 57,176 shares during the period. Gagnon Securities LLC lifted its position in Pfizer by 61.1% in the first quarter. Gagnon Securities LLC now owns 14,708 shares of the biopharmaceutical company’s stock worth $522,000 after purchasing an additional 5,581 shares during the period. Finally, Pennsylvania Trust Co lifted its position in Pfizer by 10.9% in the second quarter. Pennsylvania Trust Co now owns 681,255 shares of the biopharmaceutical company’s stock worth $28,127,000 after purchasing an additional 67,151 shares during the period. Institutional investors and hedge funds own 68.95% of the company’s stock.
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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