Pfizer (NYSE:PFE) Receives Overweight Rating from Cantor Fitzgerald

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating restated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $45.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 58.84% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. UBS Group increased their price objective on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Barclays increased their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Nine analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Down 1.0 %

Shares of PFE stock traded down $0.28 on Thursday, reaching $28.33. 6,169,221 shares of the company were exchanged, compared to its average volume of 37,327,422. The company has a market cap of $160.54 billion, a price-to-earnings ratio of -472.09, a PEG ratio of 1.25 and a beta of 0.68. The company has a 50-day moving average of $29.25 and a 200-day moving average of $28.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer has a one year low of $25.20 and a one year high of $34.08.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business had revenue of $13.28 billion for the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Analysts anticipate that Pfizer will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Pfizer

A number of hedge funds have recently modified their holdings of PFE. Czech National Bank increased its position in shares of Pfizer by 6.9% during the third quarter. Czech National Bank now owns 1,154,366 shares of the biopharmaceutical company’s stock valued at $33,407,000 after buying an additional 74,737 shares during the period. Central Pacific Bank Trust Division increased its position in shares of Pfizer by 71.8% during the third quarter. Central Pacific Bank Trust Division now owns 9,286 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 3,880 shares during the period. Trust Co. of Toledo NA OH increased its position in shares of Pfizer by 3.5% during the third quarter. Trust Co. of Toledo NA OH now owns 146,893 shares of the biopharmaceutical company’s stock valued at $4,251,000 after buying an additional 4,955 shares during the period. Stonehearth Capital Management LLC increased its position in shares of Pfizer by 12.4% during the third quarter. Stonehearth Capital Management LLC now owns 13,741 shares of the biopharmaceutical company’s stock valued at $398,000 after buying an additional 1,513 shares during the period. Finally, Abacus Planning Group Inc. increased its position in shares of Pfizer by 4.8% during the third quarter. Abacus Planning Group Inc. now owns 22,948 shares of the biopharmaceutical company’s stock valued at $664,000 after buying an additional 1,046 shares during the period. Hedge funds and other institutional investors own 68.36% of the company’s stock.

About Pfizer

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.