Pfizer Stock Forecast 2023: Will Pfizer Reach $50 in 2023?

Latest Pfizer Stock Price

Article Coverage: PFE Stock Performance, Latest PFE News, Aggregated Forecasts, PFE Latest Production Update, Reasons to Buy or Sell PFE Stock, PFE Investor Day Analysis, FAQs and Other detailed analysis.

Pfizer is a pharmaceutical company that develops, manufactures, and distributes prescription medicines and vaccines. The company’s stock is traded on the New York Stock Exchange (NYSE) under the ticker symbol “PFE”.

Pfizer Stock Forecast 2023: Latest News

• Pfizer and French pharmaceutical company Valneva have reported positive results from a phase 2 study of their VLA15 Lyme disease vaccine candidate. The study showed a strong immune response in children and adolescents one month after a booster shot. Pfizer plans to submit regulatory applications for VLA15 to the European Medicines Agency and U.S. Food and Drug Administration by 2026, pending positive results from the ongoing phase 3 clinical trial, which was launched last year. This timeline is a slight extension from their previous goal of seeking regulatory approvals by 2025.

Pfizer Stock Forecasts

Pfizer Stock Predictions 2023: Analysts

Pfizer Target Price	$54.2
Cantor Fitzgerald	$75
Truist Securities	$62
Morgan Stanley	$40
BMO Capital	$44
HSBC	$50

Pfizer Stock Performance in the Last 12 Months

• Last 6 Months: -12.5%
• Last 12 Months: -25.2%
• Year to Date (2023): -32.6%

Pfizer Stock Long-Term Prediction

• Pfizer Stock Forecast 2023: $40.64
• Pfizer Stock Forecast 2024: $62.02
• Pfizer Stock Forecast 2025: $91.35

Will Pfizer reach $50 in 2023?

It is impossible to say for sure whether Pfizer will reach $50 in 2023. The stock market is unpredictable and there are many factors that can affect the price of a stock, such as economic conditions, company earnings, and investor sentiment.

However, there are some factors that suggest that Pfizer could reach $50 in 2023. The company has a strong portfolio of products, including the COVID-19 vaccine, and it is expected to benefit from the continued growth of the pharmaceutical industry.

Of course, there are also some risks to consider. The company is facing some challenges, such as the ongoing generic competition for its COVID-19 vaccine. These challenges could weigh on the stock price in the near term.

Overall, it is possible that Pfizer could reach $50 in 2023. However, there are some risks to consider and the stock market is unpredictable.

Here are some other factors that could affect the price of Pfizer stock in 2023:

• The development of new drugs and vaccines
• The success of new product launches
• The acquisition of other companies

Pfizer Quarterly Financial Results

Second Quarter, 2023

Pfizer’s second-quarter earnings report reveals that the company recorded sales of $12.73 billion, representing a 54% decrease compared to the same period last year. The Covid vaccine, a significant part of Pfizer’s portfolio, brought in $1.49 billion in sales, marking an 83% decline from the previous year’s quarter. Similarly, Pfizer’s Covid antiviral pill, Paxlovid, saw its revenue drop by 98%, amounting to $143 million.

In aggregate, these products contributed $1.6 billion in revenue for the quarter, a notable decrease when compared to the approximately $17 billion in sales reported during the same period last year.

Pfizer’s non-Covid drugs generated $247 million in revenue, and its Covid-related non-vaccine products accounted for $77 million. Notably, Vyndaqel drugs, used to treat a specific type of cardiomyopathy, recorded $782 million in sales, reflecting a significant 42% increase from the second quarter of 2022.

Pfizer’s net income for the quarter amounted to $2.33 billion, equivalent to 41 cents per share. This marks a decrease from the $9.91 billion in net income, or $1.73 per share, reported during the same period in the previous year.

In terms of future projections, Pfizer has adjusted its 2023 sales forecast to a range of $67 billion to $70 billion, narrowing it from the earlier projection of $67 billion to $71 billion. The company has reiterated its full-year adjusted earnings outlook, which stands at $3.25 to $3.45 per share.

Pfizer’s Last 4 Quarters Summary

(USD)	Jul 2023	Apr 2023	Dec 2022	Oct 2022
Revenue	12.73B	18.28B	24.29B	22.64B
Net income	2.33B	5.54B	4.99B	8.61B
Diluted EPS	0.41	0.97	0.87	1.51
Net profit margin	18.27%	30.32%	20.56%	38.02%
Operating income	2.66B	6.66B	5.7B	10.15B
Net change in cash	475M	1.75B	-869M	-487M
Cost of revenue	2.93B	4.75B	9.99B	6.04B

Pfizer Stock Price Prediction: How High Will Pfizer Go in 2023?

It is impossible to say for sure how high Pfizer will go in 2023. The stock price is influenced by a number of factors, including the company’s financial performance, the overall market conditions, and any new developments in the pharmaceutical industry.

According to the analysts’ average price target, Pfizer stock is expected to reach $54.2 in the next 12 months, which represents an increase of 57.6% from its current price of $34.37. However, it is important to note that price targets are just estimates, and the actual price of a stock can vary significantly.

Some of the factors that could affect the Pfizer stock in 2023 include:

• Company financial performance
• Developments in the pharmaceutical industry
• Market conditions

Is Pfizer a good stock to buy?

Here are some reasons why you might want to consider buying Pfizer stock:

• Strong financial performance: Pfizer has a long history of strong financial performance. In the past five years, the company has grown its revenue and earnings at a compound annual growth rate of 7% and 12%, respectively.
• Diversified product portfolio: Pfizer has a diversified product portfolio, which helps to reduce its risk. The company’s products are used to treat a wide range of diseases, including cancer, heart disease, and diabetes.
• Pipeline of new products: Pfizer has a strong pipeline of new products in development. These products could drive future growth for the company.
• Attractive valuation: Pfizer stock is currently trading at a relatively low valuation. This could make it an attractive investment for investors who are looking for value.
• Dividend yield: Pfizer pays a dividend, which provides investors with a steady stream of income. The company’s dividend yield is currently 3.5%.

Pfizer Prediction 2023: Reasons Not to Buy Pfizer Stock

Here are some reasons why you might not want to buy Pfizer stock:

• Increased competition: Pfizer faces increased competition from other pharmaceutical companies, such as Moderna and Johnson & Johnson. These companies are also developing and marketing COVID-19 vaccines.
• Regulatory challenges: Pfizer is facing regulatory challenges in some countries, such as India. These challenges could delay the launch of the company’s products in these markets.
• Product recalls: Pfizer has recalled some of its products in the past. This could damage the company’s reputation and hurt its stock price.
• Financial performance: Pfizer’s financial performance could decline if the company’s products are not successful.

Overall, Pfizer is a well-established pharmaceutical company with a strong financial performance. However, there are also some risks to consider before investing in Pfizer stock.

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.