Analysts Set Pfizer Inc. (NYSE:PFE) Target Price at $34.54

Pfizer Inc. (NYSE:PFE) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.54.

PFE has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, September 16th. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th.

Pfizer Trading Up 0.5 %

Shares of PFE stock opened at $29.11 on Wednesday. Pfizer has a 52-week low of $25.20 and a 52-week high of $34.11. The company has a 50-day simple moving average of $29.32 and a two-hundred day simple moving average of $28.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The company has a market capitalization of $164.95 billion, a price-to-earnings ratio of -485.17, a PEG ratio of 1.26 and a beta of 0.68.

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

Hedge Funds Weigh In On Pfizer

Hedge funds have recently bought and sold shares of the company. FAS Wealth Partners Inc. increased its stake in Pfizer by 1.3% in the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after acquiring an additional 342 shares during the last quarter. Sachetta LLC raised its stake in Pfizer by 7.3% in the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 342 shares in the last quarter. Ironvine Capital Partners LLC lifted its position in Pfizer by 2.1% during the first quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after purchasing an additional 353 shares during the last quarter. Secure Asset Management LLC grew its stake in Pfizer by 0.6% in the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its holdings in shares of Pfizer by 0.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after buying an additional 355 shares during the last quarter. 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.