Pfizer (NYSE:PFE) Now Covered by Wolfe Research

Analysts at Wolfe Research assumed coverage on shares of Pfizer (NYSE:PFE) in a research report issued on Friday, MarketBeat reports. The firm set an “underperform” rating and a $25.00 price target on the biopharmaceutical company’s stock. Wolfe Research’s target price would indicate a potential upside of 0.81% from the stock’s previous close.

Several other research analysts have also recently issued reports on PFE. Barclays increased their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. StockNews.com raised shares of Pfizer from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Sanford C. Bernstein started coverage on shares of Pfizer in a report on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price on the stock. Finally, Daiwa Capital Markets upgraded shares of Pfizer from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Stock Performance

PFE stock opened at $24.80 on Friday. Pfizer has a twelve month low of $24.48 and a twelve month high of $31.54. The firm has a market cap of $140.54 billion, a price-to-earnings ratio of 33.51, a PEG ratio of 0.79 and a beta of 0.67. The business’s fifty day simple moving average is $28.64 and its two-hundred day simple moving average is $28.66. The company has a quick ratio of 0.73, a current ratio of 1.00 and a debt-to-equity ratio of 0.63.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analyst estimates of $14.92 billion. Pfizer had a net margin of 7.07% and a return on equity of 16.28%. The firm’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. Analysts predict that Pfizer will post 2.96 earnings per share for the current year.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb acquired 1,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was acquired at an average cost of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $282,400. This represents a 11.11 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Pfizer by 1.2% in the third quarter. State Street Corp now owns 290,460,600 shares of the biopharmaceutical company’s stock valued at $8,405,930,000 after purchasing an additional 3,405,539 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Pfizer by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,143,942 shares of the biopharmaceutical company’s stock valued at $3,766,366,000 after buying an additional 12,864,343 shares during the last quarter. Geode Capital Management LLC increased its holdings in Pfizer by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 117,666,245 shares of the biopharmaceutical company’s stock worth $3,392,342,000 after buying an additional 1,855,419 shares during the period. Massachusetts Financial Services Co. MA raised its position in Pfizer by 3.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 71,794,056 shares of the biopharmaceutical company’s stock worth $2,008,798,000 after buying an additional 2,241,609 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Pfizer by 22.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 38,068,879 shares of the biopharmaceutical company’s stock valued at $1,101,713,000 after acquiring an additional 6,977,587 shares during the period. 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.