Pfizer Gears Up For Q4 Print; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

Pfizer Inc. PFE is expected to release earnings results for its fourth quarter, before the opening bell on Jan. 30, 2024.

Analysts expect the company to report a quarterly loss at 22 cents per share, versus year-ago earnings of $1.14 per share. The company is projected to post revenue of $14.43 billion for the latest quarter, compared to $24.29 billion in the year-earlier quarter, according to data from Benzinga Pro.

Daiichi Sankyo Co Ltd recently announced that the U.S. Patent and Trademark Office rendered a Final Written Decision invalidating all claims of Seagen Inc's U.S. patent 10,808,039 challenged by Daiichi Sankyo in a post-grant review proceeding, related to a cancer drug.

In December, Pfizer agreed to donate the rights of royalties from sales of cancer drug Bavencio (avelumab) to the American Association for Cancer Research to address U.S. Federal Trade Commission concerns related to its $43-billion deal to buy Seagen.

Pfizer shares closed at $27.47 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• TD Cowen analyst Steve Scala downgraded the stock from Outperform to Market Perform with a price target of $32 on Jan. 4, 2024. This analyst has an accuracy rate of 72%.
• Truist Securities analyst Robyn Karnauskas maintained a Buy rating and cut the price target from $42 to $36 on Dec. 14, 2023. This analyst has an accuracy rate of 64%.
• Morgan Stanley analyst Terence Flynn maintained an Equal-Weight rating on the stock and cut price target from $39 to $37 on Nov. 1, 2023. This analyst has an accuracy rate of 66%.
• Wells Fargo analyst Mohit Bansal maintained an Equal-Weight rating and slashed the price target from $39 to $35 on Oct. 17, 2023. This analyst has an accuracy rate of 76%.
• Citigroup analyst Andrew Baum maintained a Neutral rating and cut the price target from $42 to $35 on Oct. 16, 2023. This analyst has an accuracy rate of 71%.

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