Cantor Fitzgerald Reiterates “Overweight” Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 56.36% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $28.00 to $34.00 in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Morgan Stanley lifted their price objective on Pfizer from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company increased their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Pfizer currently has an average rating of “Moderate Buy” and an average target price of $34.54.

Pfizer Price Performance

PFE traded up $0.48 during midday trading on Monday, hitting $28.78. The company had a trading volume of 12,263,177 shares, compared to its average volume of 39,397,543. Pfizer has a twelve month low of $25.20 and a twelve month high of $37.19. The firm’s 50-day simple moving average is $28.75 and its 200-day simple moving average is $27.91. The company has a market capitalization of $163.08 billion, a PE ratio of -479.33, a P/E/G ratio of 1.00 and a beta of 0.69. 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 (NYSE:PFE) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. Equities research analysts predict that Pfizer will post 2.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several large investors have recently made changes to their positions in PFE. Tennessee Valley Asset Management Partners bought a new stake in shares of Pfizer during the fourth quarter worth $36,000. Cetera Trust Company N.A bought a new position in Pfizer in the fourth quarter valued at $53,000. OLD National Bancorp IN grew its position in Pfizer by 12.0% in the fourth quarter. OLD National Bancorp IN now owns 225,102 shares of the biopharmaceutical company’s stock valued at $6,481,000 after purchasing an additional 24,165 shares in the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Pfizer in the fourth quarter valued at $2,601,000. Finally, Mengis Capital Management Inc. grew its position in Pfizer by 0.9% in the fourth quarter. Mengis Capital Management Inc. now owns 63,650 shares of the biopharmaceutical company’s stock valued at $1,833,000 after purchasing an additional 550 shares in the last quarter. Institutional investors 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.