Bank of America Reaffirms Neutral Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “neutral” rating reiterated by Bank of America in a report issued on Tuesday,Benzinga reports. They currently have a $29.00 price target on the biopharmaceutical company’s stock. Bank of America‘s price target suggests a potential upside of 11.03% from the stock’s previous close.

A number of other research analysts also recently commented on PFE. Citigroup initiated coverage on Pfizer in a research note on Friday, October 25th. They set a “neutral” rating and a $30.00 price objective for the company. Wolfe Research assumed coverage on shares of Pfizer in a research report on Friday, November 15th. They set an “underperform” rating and a $25.00 price target for the company. Sanford C. Bernstein assumed coverage on shares of Pfizer in a research report on Thursday, October 17th. They issued a “market perform” rating and a $32.00 price objective on the stock. StockNews.com cut shares of Pfizer from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, nine have given 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, Pfizer has an average rating of “Moderate Buy” and an average price target of $32.64.

Pfizer Trading Up 1.5 %

Pfizer stock opened at $26.12 on Tuesday. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The firm’s 50-day moving average is $27.42 and its 200-day moving average is $28.36. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.73 and a current ratio of 1.00. The company has a market cap of $148.02 billion, a P/E ratio of 35.30, a PEG ratio of 0.70 and a beta of 0.65.

Pfizer (NYSE:PFE) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.42. The firm had revenue of $17.70 billion for the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. Pfizer’s revenue was up 31.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) earnings per share. On average, equities analysts expect that Pfizer will post 2.95 earnings per share for the current year.

Insider Activity at Pfizer

In other Pfizer news, Director Scott Gottlieb bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, with a total value of $28,240.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $282,400. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FAS Wealth Partners Inc. raised its position in shares of Pfizer by 1.3% during the second quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock worth $736,000 after purchasing an additional 342 shares during the period. Sachetta LLC raised its holdings in Pfizer by 7.3% during the 2nd quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares during the period. Wells Trecaso Financial Group LLC lifted its stake in Pfizer by 2.5% during the third quarter. Wells Trecaso Financial Group LLC now owns 14,361 shares of the biopharmaceutical company’s stock valued at $416,000 after buying an additional 350 shares in the last quarter. Secure Asset Management LLC boosted its holdings in shares of Pfizer by 0.6% in the second quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock worth $1,632,000 after buying an additional 353 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of Pfizer by 1.5% in the second quarter. Continuum Advisory LLC now owns 25,185 shares of the biopharmaceutical company’s stock worth $705,000 after acquiring an additional 360 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.