Pfizer (NYSE:PFE) Receives Overweight Rating from Cantor Fitzgerald

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $45.00 price objective on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 61.81% from the company’s current price.

Several other analysts have also recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 target price (up previously from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Morgan Stanley increased their target price on Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research report on Thursday, May 2nd. Finally, Argus cut Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Pfizer presently has a consensus rating of “Hold” and a consensus target price of $35.86.

Pfizer Trading Down 0.6 %

NYSE:PFE traded down $0.18 during midday trading on Wednesday, hitting $27.81. The stock had a trading volume of 5,422,708 shares, compared to its average volume of 40,867,172. Pfizer has a one year low of $25.20 and a one year high of $37.80. The company has a market capitalization of $157.59 billion, a price-to-earnings ratio of -463.42, a PEG ratio of 1.10 and a beta of 0.70. The stock has a 50-day moving average of $27.77 and a 200 day moving average of $27.69. The company has a quick ratio of 0.78, a current ratio of 1.05 and a debt-to-equity ratio of 0.66.

Pfizer (NYSE:PFE) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.26. The business had revenue of $14.88 billion for the quarter, compared to analysts’ expectations of $13.87 billion. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 EPS. As a group, sell-side analysts forecast that Pfizer will post 2.38 EPS for the current year.

Hedge Funds Weigh In On Pfizer

Several institutional investors and hedge funds have recently modified their holdings of PFE. Clifford Swan Investment Counsel LLC grew its position in shares of Pfizer by 4.7% in the fourth quarter. Clifford Swan Investment Counsel LLC now owns 417,070 shares of the biopharmaceutical company’s stock valued at $12,007,000 after purchasing an additional 18,611 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in Pfizer by 40.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 4,739,672 shares of the biopharmaceutical company’s stock valued at $157,215,000 after acquiring an additional 1,365,295 shares during the last quarter. LifePlan Financial LLC acquired a new position in Pfizer in the fourth quarter valued at approximately $255,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Pfizer in the fourth quarter valued at approximately $16,166,000. Finally, KLCM Advisors Inc. lifted its holdings in Pfizer by 75.0% in the fourth quarter. KLCM Advisors Inc. now owns 173,793 shares of the biopharmaceutical company’s stock valued at $5,004,000 after acquiring an additional 74,487 shares during the last quarter. Hedge funds and other 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.