Citigroup Begins Coverage on Pfizer (NYSE:PFE)

Investment analysts at Citigroup began coverage on shares of Pfizer (NYSE:PFE) in a research note issued to investors on Friday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $30.00 price target on the biopharmaceutical company’s stock. Citigroup’s price target suggests a potential upside of 4.71% from the company’s current price.

A number of other brokerages have also recently weighed in on PFE. Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Pfizer from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. UBS Group raised their price target on Pfizer from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays boosted their price objective on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.58.

Pfizer Stock Down 0.7 %

PFE stock opened at $28.65 on Friday. Pfizer has a one year low of $25.20 and a one year high of $31.54. The firm has a market cap of $162.35 billion, a PE ratio of -62.28, a PEG ratio of 1.01 and a beta of 0.67. The firm’s 50 day moving average price is $29.07 and its 200-day moving average price is $28.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.60 and a current ratio of 0.86.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. The business had revenue of $13.28 billion for the quarter, compared to analyst estimates of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 EPS. On average, equities research analysts anticipate that Pfizer will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Pfizer

A number of hedge funds and other institutional investors have recently modified their holdings of PFE. Olistico Wealth LLC acquired a new stake in Pfizer in the second quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the 2nd quarter valued at about $29,000. Quarry LP acquired a new stake in shares of Pfizer during the 2nd quarter worth about $31,000. Trivant Custom Portfolio Group LLC lifted its stake in Pfizer by 100.0% during the first quarter. Trivant Custom Portfolio Group LLC now owns 1,200 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new position in Pfizer in the second quarter valued at approximately $34,000. 68.36% of the stock is currently owned by institutional investors and hedge funds.

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.