Pfizer (NYSE:PFE) Now Covered by Sanford C. Bernstein

Investment analysts at Sanford C. Bernstein started coverage on shares of Pfizer (NYSE:PFE) in a report issued on Thursday, Marketbeat Ratings reports. The brokerage set a “market perform” rating and a $32.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 9.48% from the stock’s previous close.

Several other research firms also recently weighed in on PFE. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, StockNews.com upgraded Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Seven research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Pfizer has a consensus rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Stock Performance

NYSE:PFE opened at $29.23 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. Pfizer has a 1 year low of $25.20 and a 1 year high of $31.54. The stock’s 50 day simple moving average is $29.07 and its two-hundred day simple moving average is $28.44. The company has a market cap of $165.64 billion, a price-to-earnings ratio of -63.54, a PEG ratio of 1.02 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results 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 firm had revenue of $13.28 billion for 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 for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, equities analysts anticipate that Pfizer will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently made changes to their positions in PFE. Olistico Wealth LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Pfizer during the 2nd quarter worth $29,000. Quarry LP purchased a new stake in shares of Pfizer during the 2nd quarter worth $31,000. Trivant Custom Portfolio Group LLC lifted its stake in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in shares of Pfizer during the 2nd quarter worth $34,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.