Cantor Fitzgerald Reaffirms Overweight Rating for Pfizer (NYSE:PFE)

Pfizer (NYSE:PFE)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $45.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 51.16% from the company’s current price.

A number of other research analysts have also issued reports on the company. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company boosted 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. Barclays boosted their target price on Pfizer from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. UBS Group boosted their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.54.

Pfizer Stock Performance

PFE traded up $0.50 during trading on Monday, hitting $29.77. 11,514,554 shares of the stock were exchanged, compared to its average volume of 37,963,418. The firm has a market capitalization of $168.69 billion, a P/E ratio of -496.00, a PEG ratio of 1.04 and a beta of 0.68. Pfizer has a 1-year low of $25.20 and a 1-year high of $34.12. The stock has a fifty day moving average price of $29.21 and a two-hundred day moving average price of $28.13. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The company 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 firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 earnings per share. As a group, sell-side analysts predict that Pfizer will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Pfizer

Several institutional investors have recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. increased its stake in Pfizer by 21.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 18,462 shares of the biopharmaceutical company’s stock valued at $517,000 after purchasing an additional 3,223 shares during the last quarter. Bluefin Capital Management LLC increased its stake in Pfizer by 9.0% in the second quarter. Bluefin Capital Management LLC now owns 10,569 shares of the biopharmaceutical company’s stock valued at $296,000 after purchasing an additional 869 shares during the last quarter. Heritage Wealth Management Inc. acquired a new stake in Pfizer during the second quarter worth about $1,351,000. Lazari Capital Management Inc. increased its stake in Pfizer by 2.9% during the second quarter. Lazari Capital Management Inc. now owns 18,895 shares of the biopharmaceutical company’s stock worth $529,000 after acquiring an additional 536 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Pfizer during the second quarter worth about $16,534,000. 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.