Pfizer (NYSE:PFE) Upgraded by StockNews.com to “Buy”

Pfizer (NYSE:PFE) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

PFE has been the subject of a number of other reports. Wells Fargo & Company raised their price objective on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research note on Thursday, October 3rd. Finally, Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Pfizer presently has an average rating of “Moderate Buy” and a consensus price target of $34.54.

Pfizer Price Performance

NYSE:PFE opened at $29.18 on Wednesday. The stock has a market capitalization of $165.35 billion, a PE ratio of -486.33, a P/E/G ratio of 1.23 and a beta of 0.67. Pfizer has a 1-year low of $25.20 and a 1-year high of $33.92. The firm has a fifty day simple moving average of $29.14 and a 200 day simple moving average of $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 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to the consensus estimate of $12.96 billion. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. On average, research analysts expect that Pfizer will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Olistico Wealth LLC acquired a new stake in Pfizer during the second quarter worth about $25,000. MFA Wealth Advisors LLC bought a new position in Pfizer in the second quarter valued at approximately $29,000. Quarry LP acquired a new position in Pfizer during the second quarter valued at approximately $31,000. Creekmur Asset Management LLC bought a new stake in Pfizer during the fourth quarter worth $32,000. Finally, Trivant Custom Portfolio Group LLC boosted 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 valued at $33,000 after purchasing an additional 600 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.