Pfizer (NYSE:PFE) Stock Price Up 0.1% – What’s Next?

Shares of Pfizer Inc. (NYSE:PFE) were up 0.1% during mid-day trading on Wednesday . The company traded as high as $28.73 and last traded at $28.70. Approximately 7,364,299 shares were traded during trading, a decline of 80% from the average daily volume of 37,391,102 shares. The stock had previously closed at $28.67.

Wall Street Analysts Forecast Growth

PFE has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays lifted their target price on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $45.00 target price on shares of Pfizer in a research note on Thursday. Daiwa Capital Markets raised Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Finally, UBS Group increased their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Stock Performance

The stock has a market capitalization of $160.59 billion, a price-to-earnings ratio of -472.50, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a 50-day moving average of $29.21 and a 200 day moving average of $28.31.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $12.96 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. Pfizer’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently modified their holdings of the stock. Duncan Williams Asset Management LLC bought a new stake in shares of Pfizer in the third quarter worth $324,000. Apella Capital LLC lifted its position in Pfizer by 3.3% during the 3rd quarter. Apella Capital LLC now owns 18,193 shares of the biopharmaceutical company’s stock worth $520,000 after buying an additional 582 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its stake in shares of Pfizer by 0.7% during the 3rd quarter. Alpha Omega Wealth Management LLC now owns 176,284 shares of the biopharmaceutical company’s stock worth $5,102,000 after buying an additional 1,150 shares during the last quarter. Sterneck Capital Management LLC boosted its stake in shares of Pfizer by 21.7% during the 3rd quarter. Sterneck Capital Management LLC now owns 18,523 shares of the biopharmaceutical company’s stock worth $536,000 after buying an additional 3,304 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position in shares of Pfizer by 23.6% in the third quarter. Canandaigua National Bank & Trust Co. now owns 235,277 shares of the biopharmaceutical company’s stock valued at $6,809,000 after acquiring an additional 44,957 shares during the last quarter. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.