Pfizer (NYSE:PFE) PT Raised to $30.00 at Barclays

Pfizer (NYSE:PFE) had its price target raised by research analysts at Barclays from $28.00 to $30.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the biopharmaceutical company’s stock. Barclays‘s target price points to a potential upside of 4.68% from the stock’s current price.

Several other analysts have also recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Pfizer from $28.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Argus cut shares of Pfizer from a “buy” rating to a “hold” rating in a research report on Friday, March 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $36.00 price target (up from $33.00) on shares of Pfizer in a research report on Thursday, May 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 price target on shares of Pfizer in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Pfizer currently has a consensus rating of “Hold” and a consensus target price of $35.69.

Pfizer Trading Up 1.1 %

Shares of Pfizer stock opened at $28.66 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.78. Pfizer has a 1 year low of $25.20 and a 1 year high of $37.80. The company has a market capitalization of $162.40 billion, a P/E ratio of -477.59, a P/E/G ratio of 1.10 and a beta of 0.69. The business has a 50 day moving average price of $28.23 and a 200 day moving average price of $27.72.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.26. Pfizer had a positive return on equity of 8.64% and a negative net margin of 0.56%. The firm had revenue of $14.88 billion during the quarter, compared to the consensus estimate of $13.87 billion. During the same period in the previous year, the firm posted $1.23 EPS. The company’s quarterly revenue was down 19.5% compared to the same quarter last year. Sell-side analysts anticipate that Pfizer will post 2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Pfizer

A number of large investors have recently modified their holdings of PFE. Norges Bank acquired a new position in shares of Pfizer during the fourth quarter worth approximately $2,129,927,000. Wellington Management Group LLP raised its stake in shares of Pfizer by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 239,209,768 shares of the biopharmaceutical company’s stock worth $6,886,849,000 after buying an additional 11,099,024 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Pfizer by 8.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 104,246,432 shares of the biopharmaceutical company’s stock worth $2,985,783,000 after buying an additional 8,473,686 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Pfizer by 13.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 68,506,441 shares of the biopharmaceutical company’s stock worth $1,972,300,000 after buying an additional 8,298,920 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Pfizer during the first quarter worth approximately $172,902,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.