Pfizer (NYSE:PFE) Upgraded at Evercore ISI

Pfizer (NYSE:PFE) was upgraded by Evercore ISI to a “strong-buy” rating in a research note issued on Wednesday, Zacks.com reports.

PFE has been the topic of several other reports. Citigroup began coverage on Pfizer in a research report on Friday, October 25th. They set a “neutral” rating and a $30.00 price target on the stock. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.58.

Pfizer Price Performance

PFE opened at $28.29 on Wednesday. Pfizer has a 52-week low of $25.20 and a 52-week high of $31.54. The company has a 50 day moving average of $29.05 and a two-hundred day moving average of $28.56. The company has a market cap of $160.31 billion, a P/E ratio of 38.23, a P/E/G ratio of 0.90 and a beta of 0.67. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.40%. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) EPS. On average, analysts expect that Pfizer will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Pfizer

In other news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Philip James Wealth Mangement LLC purchased a new position in shares of Pfizer during the third quarter valued at $10,109,000. Winthrop Advisory Group LLC grew its stake in Pfizer by 2.6% during the 3rd quarter. Winthrop Advisory Group LLC now owns 15,834 shares of the biopharmaceutical company’s stock valued at $458,000 after acquiring an additional 397 shares in the last quarter. Verity Asset Management Inc. grew its position in Pfizer by 31.5% during the third quarter. Verity Asset Management Inc. now owns 64,136 shares of the biopharmaceutical company’s stock valued at $1,851,000 after purchasing an additional 15,364 shares in the last quarter. Lewis Asset Management LLC increased its stake in Pfizer by 16.7% in the 3rd quarter. Lewis Asset Management LLC now owns 32,839 shares of the biopharmaceutical company’s stock valued at $950,000 after buying an additional 4,695 shares during the period. Finally, Mine & Arao Wealth Creation & Management LLC. purchased a new stake in Pfizer in the 3rd quarter worth approximately $203,000. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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.