Pfizer’s (PFE) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Pfizer (NYSE:PFE) in a research note issued to investors on Thursday, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Daiwa America raised shares of Pfizer from a moderate buy rating to a strong-buy rating in a research note on Wednesday, August 7th. UBS Group lifted their target price on shares of Pfizer from $30.00 to $31.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. 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 report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of 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 research report on Wednesday, August 7th. Finally, Barclays upped their price objective on shares of Pfizer from $30.00 to $32.00 and gave the company an equal weight rating in a research note on Wednesday, July 31st. Nine 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. According to MarketBeat.com, Pfizer currently has a consensus rating of Moderate Buy and an average price target of $34.54.

Pfizer Stock Performance

Pfizer stock opened at $28.58 on Thursday. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a market cap of $161.95 billion, a P/E ratio of -476.33, a price-to-earnings-growth ratio of 1.25 and a beta of 0.67. The firm’s fifty day moving average price is $29.17 and its 200-day moving average price is $28.32.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The business had revenue of $13.28 billion for the quarter, compared to the consensus estimate of $12.96 billion. During the same quarter last year, the business posted $0.67 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Pfizer will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

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