Pfizer (NYSE:PFE) Stock Rating Reaffirmed by Cantor Fitzgerald

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They presently have a $45.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 57.07% from the company’s previous close.

PFE has been the topic of a number of other research reports. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company raised their price target on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $33.91.

Pfizer Stock Performance

Pfizer stock opened at $28.65 on Wednesday. The stock has a market cap of $162.35 billion, a PE ratio of -62.28, a P/E/G ratio of 1.01 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65. Pfizer has a 12-month low of $25.20 and a 12-month high of $31.54. The business’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $28.48.

Pfizer (NYSE:PFE) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.67 EPS. As a group, analysts expect that Pfizer will post 2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several large investors have recently added to or reduced their stakes in PFE. Massachusetts Financial Services Co. MA grew its position in shares of Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the period. Van ECK Associates Corp grew its holdings in Pfizer by 1.8% in the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after purchasing an additional 290,760 shares during the period. Federated Hermes Inc. raised its holdings in shares of Pfizer by 3.3% during the second quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after purchasing an additional 470,003 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Pfizer by 2.4% during the second quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after purchasing an additional 238,850 shares during the period. Finally, Thornburg Investment Management Inc. boosted its position in shares of Pfizer by 10.3% during the 2nd quarter. Thornburg Investment Management Inc. now owns 9,803,509 shares of the biopharmaceutical company’s stock worth $274,302,000 after purchasing an additional 912,156 shares in the last quarter. Institutional investors and hedge funds 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.