Pfizer (NYSE:PFE) Downgraded by StockNews.com to Buy

Pfizer (NYSE:PFE) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.

A number of other research firms have also recently commented on PFE. Citigroup began coverage on Pfizer in a report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. Sanford C. Bernstein initiated coverage on Pfizer in a report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price target on the stock. Wells Fargo & Company increased their price objective on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Evercore ISI raised shares of Pfizer to a “strong-buy” rating in a report on Wednesday, October 30th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.92.

Pfizer Trading Up 1.0 %

Shares of NYSE:PFE opened at $25.10 on Wednesday. The stock has a 50 day moving average of $28.45 and a 200 day moving average of $28.63. The company has a market cap of $142.24 billion, a PE ratio of 33.92, a price-to-earnings-growth ratio of 0.79 and a beta of 0.67. Pfizer has a 12-month low of $24.48 and a 12-month high of $31.54. The company has a current ratio of 1.00, a quick ratio of 0.73 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last posted its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The business had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts expect that Pfizer will post 2.96 EPS for the current year.

Insiders Place Their Bets

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.06% of the stock is currently owned by insiders.

Institutional Trading of Pfizer

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Olistico Wealth LLC bought a new position in Pfizer during the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer during the 2nd quarter worth about $29,000. Gladius Capital Management LP raised its position in Pfizer by 102.8% in the 3rd quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 38,015 shares during the period. Quarry LP bought a new stake in Pfizer in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Pfizer during the second quarter valued at approximately $34,000. 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.