Cantor Fitzgerald Reaffirms Overweight Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a note issued to investors on Thursday, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 57.45% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a research report on Tuesday. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company increased 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. Nine equities research 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 company’s stock. According to data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Trading Up 0.8 %

NYSE:PFE opened at $28.58 on Thursday. Pfizer has a 12-month low of $25.20 and a 12-month high of $33.92. The firm has a market cap of $161.95 billion, a PE ratio of -476.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $29.17 and a 200 day moving average price of $28.31.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 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 the consensus estimate of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. Sell-side analysts anticipate that Pfizer will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP grew its position in Pfizer by 4.9% during the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Pfizer by 3.2% during the second 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 shares of Pfizer by 1.8% during the second quarter. Van ECK Associates Corp now owns 16,104,088 shares of the biopharmaceutical company’s stock worth $450,593,000 after buying an additional 290,760 shares during the last quarter. Federated Hermes Inc. increased its position in Pfizer by 3.3% in the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Pfizer by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

Pfizer Company Profile

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.