Shares of Pfizer Incorporated closed the trade up 52 percent to $34.61 on Friday, with a volume of 25,290,502 shares traded. The figure is higher than the pharmaceutical giant’s daily trading volume of 20,466,906.
The stock’s last closing price indicates that it is trading at a price significantly higher that it was last year, with the share price up 0.90 percent.
Pfizer’s existing market capitalization is 214,300,966,000. The stock has a 52 week high of $36.46, while its 52 week low was recorded at $28.25.
Meanwhile, shares of the drug manufacturer currently has a mean rating of 2.2 while 10 market analysts have recommended the shares as ‘Buy’, 4 rated as ‘Outperform’ and 9 suggested as ‘Hold’.
Pfizer stock has a consensus price target of $38.62, with the highest price target by analysts set at $54.00 and the lowest price target projected at $33.00. The mean price target is derived from the consensus estimates of 21 brokerage companies.
A group of twelve market analysts announced an estimate of 12.19 billion in sales for the company for the current quarter ending in June 16. On the other hand, analysts expect Pfizer to post earnings of $0.62 per share for the current fiscal quarter, while the company’s earnings per share for the year is seen at $2.44. Moreover, analysts predicted Pfizer’s long-term growth to hit 7.78 percent for the next five years.
In its latest quarterly report, Pfizer disclosed earnings of $0.67 per share, beating analysts’ expectations by $0.12 with a surprise factor of 21.80 percent.
Elsewhere, Pfizer stock showed a decrease of 22.32 percent in short interest. The stock’s total short interest was 84.20 million shares in May, indicating a 22.32 percent decline from the 108.39 million shares reported previously.
With 32.52 million shares average volume, it will take short sellers a total of 3 days to cover their Pfizer share’s short positions. Meanwhile, the short interest to the pharmaceutical giant’s float is 1.39 percent.
Pfizer’s Rival for Anacor Deal
According to its latest regulatory filings, Anacor Pharmaceuticals Inc had received a proposal from a third party before inking a $5.2 billion deal with Pfizer last week.
Pfizer agreed to purchase Anacor on May 16 to include an eczema gel to its portfolio, a month after the pharmaceutical giant abandoned plans to acquire Allergan PLC.
During that time, analysts had expected Anacor to be bought by Allergan, which has a stronger existence in the dermatology market.
Anacor stated in a regulatory filing on Thursday that Pfizer initially offered $95 per share, however, its financial adviser suggested the company increase the bid, given Anacor received a revised offer.
On May 13, the pharmaceutical giant presented its best and final offer of $99.25 per share, while the third party bidder said it was ready to offer $90 per share, and an additional $500 million if crisaborole generated sales of over $1 billion in the first eight quarters after its launch.
Anacor’s crisaborole drug is currently being analyzed by the US Food and Drug Administration.
According to some analysts, the notably low termination fee of nearly $181 million could convince Anacor to agree to a superior proposal.
Anacor closed the day with roughly 1 percent gain at $100.07 on Thurday.
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