BMO Capital Markets Reiterates “Outperform” Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “outperform” rating reiterated by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $36.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $33.00. BMO Capital Markets’ target price indicates a potential upside of 30.10% from the company’s previous close.

A number of other analysts have also weighed in on PFE. Guggenheim began coverage on Pfizer in a report on Friday, February 23rd. They set a “buy” rating and a $36.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Monday, April 15th. Argus downgraded Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, TD Cowen downgraded Pfizer from an “outperform” rating to a “market perform” rating and set a $32.00 price target on the stock. in a research report on Thursday, January 4th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.53.

Pfizer Stock Up 1.8 %

Pfizer stock traded up $0.49 during mid-day trading on Thursday, reaching $27.67. 17,917,537 shares of the company were exchanged, compared to its average volume of 42,279,973. The business has a fifty day moving average of $26.87 and a 200 day moving average of $28.25. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.91. The firm has a market cap of $156.68 billion, a P/E ratio of 76.89, a PEG ratio of 1.15 and a beta of 0.63. Pfizer has a 12-month low of $25.20 and a 12-month high of $40.37.

Pfizer (NYSE:PFE) last posted its earnings results on Tuesday, January 30th. The biopharmaceutical company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.29. The company had revenue of $14.25 billion during the quarter, compared to analyst estimates of $14.37 billion. Pfizer had a return on equity of 10.88% and a net margin of 3.62%. Pfizer’s revenue was down 41.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.14 earnings per share. Research analysts anticipate that Pfizer will post 2.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently added to or reduced their stakes in the business. Briaud Financial Planning Inc purchased a new stake in shares of Pfizer during the 3rd quarter worth about $30,000. GoalVest Advisory LLC boosted its stake in shares of Pfizer by 304.9% during the 4th quarter. GoalVest Advisory LLC now owns 1,077 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 811 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in shares of Pfizer during the 4th quarter worth about $32,000. Trivant Custom Portfolio Group LLC boosted its stake in shares of Pfizer by 100.0% during the 1st quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after acquiring an additional 600 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. purchased a new stake in shares of Pfizer during the 3rd quarter worth about $34,000. 68.36% of the stock is 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.