Pfizer (NYSE:PFE) Rating Reiterated by Cantor Fitzgerald

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 59.97% from the company’s current price.

Several other equities research analysts have also issued reports on PFE. BMO Capital Markets reissued an “outperform” rating and issued a $36.00 target price (up from $33.00) on shares of Pfizer in a report on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley lifted their target price on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Pfizer has a consensus rating of “Hold” and an average price target of $35.54.

Pfizer Stock Performance

Shares of Pfizer stock traded up $0.41 on Wednesday, hitting $28.13. 6,217,779 shares of the company’s stock were exchanged, compared to its average volume of 39,860,918. Pfizer has a 1 year low of $25.20 and a 1 year high of $37.80. The company has a 50-day simple moving average of $28.18 and a 200-day simple moving average of $27.71. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.78 and a current ratio of 1.05. The stock has a market capitalization of $159.40 billion, a PE ratio of -468.76, a PEG ratio of 1.10 and a beta of 0.69.

Pfizer (NYSE:PFE) last released its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.26. The company had revenue of $14.88 billion for the quarter, compared to the consensus estimate of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. Pfizer’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 earnings per share. As a group, equities analysts anticipate that Pfizer will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Pfizer

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Pfizer in the fourth quarter valued at $2,129,927,000. Wellington Management Group LLP grew its stake in shares of Pfizer by 4.9% in 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 buying an additional 11,099,024 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Pfizer by 8.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock valued at $2,985,783,000 after buying an additional 8,473,686 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Pfizer by 13.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock valued at $1,972,300,000 after acquiring an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB purchased a new position in Pfizer in the first quarter worth about $172,902,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.

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.