Pfizer (NYSE:PFE) Coverage Initiated at Citigroup

Equities research analysts at Citigroup started coverage on shares of Pfizer (NYSE:PFE) in a research report issued on Friday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $30.00 price target on the biopharmaceutical company’s stock. Citigroup’s price objective points to a potential upside of 4.71% from the stock’s previous close.

A number of other research firms have also commented on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. UBS Group lifted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $45.00 price objective on shares of Pfizer in a research report on Wednesday. Eight equities 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.58.

Pfizer Stock Down 0.7 %

Pfizer stock opened at $28.65 on Friday. The stock has a 50-day simple moving average of $29.07 and a 200-day simple moving average of $28.48. The company has a market capitalization of $162.35 billion, a P/E ratio of -62.28, a PEG ratio of 1.01 and a beta of 0.67. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 company’s 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 earnings per share. Equities research analysts expect that Pfizer will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Pfizer

A number of institutional investors and hedge funds have recently modified their holdings of PFE. Atlas Capital Advisors LLC grew its stake in Pfizer by 54.4% in the 1st quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 600 shares during the last quarter. Kathmere Capital Management LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $203,000. Hodges Capital Management Inc. increased its stake in shares of Pfizer by 16.9% during the 1st quarter. Hodges Capital Management Inc. now owns 12,127 shares of the biopharmaceutical company’s stock worth $337,000 after purchasing an additional 1,752 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Pfizer by 16.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 41,275 shares of the biopharmaceutical company’s stock worth $1,145,000 after purchasing an additional 5,682 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its stake in Pfizer by 13.2% in the 1st quarter. Griffin Asset Management Inc. now owns 67,989 shares of the biopharmaceutical company’s stock valued at $1,887,000 after buying an additional 7,943 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.