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

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating reiterated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 57.45% from the company’s current price.

Several other equities research analysts have also commented on the stock. UBS Group boosted their price target on shares of Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Daiwa America raised shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised their price target 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. StockNews.com lowered Pfizer from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Daiwa Capital Markets upgraded 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 report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.54.

Pfizer Trading Up 0.8 %

Shares of Pfizer stock opened at $28.58 on Thursday. The firm has a 50-day simple moving average of $29.17 and a two-hundred day simple moving average of $28.31. 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 has a fifty-two week low of $25.20 and a fifty-two week high of $33.92. The company 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.

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, topping 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 company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the firm posted $0.67 EPS. Pfizer’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Pfizer will post 2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in Pfizer by 4.9% in the 4th quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock valued at $6,886,849,000 after purchasing an additional 11,099,024 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings 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 valued at $2,008,798,000 after buying an additional 2,241,609 shares during the period. Van ECK Associates Corp lifted its stake 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 worth $450,593,000 after acquiring an additional 290,760 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Pfizer by 3.3% during the 2nd quarter. Federated Hermes Inc. now owns 14,923,545 shares of the biopharmaceutical company’s stock valued at $417,561,000 after acquiring an additional 470,003 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Pfizer by 2.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,260,067 shares of the biopharmaceutical company’s stock valued at $287,077,000 after acquiring an additional 238,850 shares in the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.