Pfizer (NYSE:PFE) Trading 0.1% Higher – Time to Buy?

Pfizer Inc. (NYSE:PFE) shares shot up 0.1% during trading on Tuesday . The stock traded as high as $29.49 and last traded at $29.23. 7,503,933 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 37,295,184 shares. The stock had previously closed at $29.20.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PFE shares. Barclays lifted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $45.00 price target on shares of Pfizer in a research note on Thursday, October 3rd. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Finally, UBS Group increased their price objective on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Stock Down 0.2 %

The company has a market capitalization of $165.07 billion, a price-to-earnings ratio of -487.17, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67. The firm’s fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $28.33. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings data 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. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. Sell-side analysts anticipate that Pfizer Inc. will post 2.66 EPS for the current year.

Institutional Trading of Pfizer

Several institutional investors and hedge funds have recently modified their holdings of the business. Olistico Wealth LLC purchased a new stake in Pfizer during the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Pfizer in the 2nd quarter worth about $29,000. Quarry LP acquired a new position in Pfizer in the second quarter valued at approximately $31,000. Creekmur Asset Management LLC bought a new position in Pfizer during the 4th quarter worth $32,000. Finally, Trivant Custom Portfolio Group LLC increased its holdings in shares of Pfizer by 100.0% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares during the period. 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.