Pfizer (NYSE:PFE) Now Covered by Cantor Fitzgerald

Equities researchers at Cantor Fitzgerald started coverage on shares of Pfizer (NYSE:PFE) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $24.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 8.74% from the company’s previous close.

PFE has been the subject of several other reports. Citigroup reaffirmed a “neutral” rating on shares of Pfizer in a report on Thursday, March 27th. Guggenheim reissued a “buy” rating on shares of Pfizer in a research report on Tuesday, March 18th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $25.00 price objective (down previously from $32.00) on shares of Pfizer in a research note on Tuesday, April 8th. Hsbc Global Res raised shares of Pfizer to a “strong-buy” rating in a research note on Monday, March 10th. Finally, UBS Group decreased their target price on Pfizer from $28.00 to $24.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.57.

Pfizer Trading Down 0.3 %

Shares of Pfizer stock opened at $22.07 on Tuesday. The business has a fifty day simple moving average of $24.81 and a 200-day simple moving average of $26.11. The firm has a market cap of $125.17 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 0.64 and a beta of 0.67. Pfizer has a fifty-two week low of $20.92 and a fifty-two week high of $31.54. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, February 4th. The biopharmaceutical company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.15. The company had revenue of $17.76 billion for the quarter, compared to analysts’ expectations of $17.26 billion. Pfizer had a net margin of 12.62% and a return on equity of 19.47%. The business’s revenue was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS. On average, equities analysts forecast that Pfizer will post 2.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ronald E. Blaylock acquired 19,457 shares of the stock in a transaction dated Thursday, February 13th. The shares were acquired at an average price of $25.65 per share, with a total value of $499,072.05. Following the acquisition, the director now owns 27,707 shares in the company, valued at approximately $710,684.55. The trade was a 235.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFE. Norges Bank bought a new position in Pfizer in the 4th quarter worth $2,328,986,000. Charles Schwab Investment Management Inc. boosted its stake in Pfizer by 19.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 155,459,101 shares of the biopharmaceutical company’s stock valued at $4,124,330,000 after purchasing an additional 25,315,159 shares during the period. Starboard Value LP acquired a new stake in Pfizer in the 4th quarter valued at approximately $407,730,000. Raymond James Financial Inc. bought a new position in Pfizer in the 4th quarter worth approximately $274,694,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Pfizer by 307.5% in the first quarter. Assenagon Asset Management S.A. now owns 10,046,340 shares of the biopharmaceutical company’s stock valued at $254,574,000 after acquiring an additional 7,581,030 shares during the period. Institutional investors and hedge funds 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.