Pfizer (NYSE:PFE) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America has raised its target price for Pfizer (NYSE:PFE) from $27.00 to $28.00, indicating a potential upside of 13.41% from the stock’s previous close.
• Pfizer recently reported $0.78 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $0.58, along with a 10.3% year-over-year revenue increase.
• Currently, Pfizer has a consensus rating of "Moderate Buy" among analysts, with the average price target set at $28.33.

Pfizer (NYSE:PFE - Get Free Report) had its price target boosted by research analysts at Bank of America from $27.00 to $28.00 in a report released on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. Bank of America's price objective points to a potential upside of 16.92% from the stock's previous close.

Other equities research analysts also recently issued reports about the company. Morgan Stanley boosted their price target on Pfizer from $31.00 to $32.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. TD Cowen decreased their price objective on shares of Pfizer from $32.00 to $28.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. HSBC cut their price target on Pfizer from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Jefferies Financial Group increased their target price on shares of Pfizer from $32.00 to $33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, UBS Group upped their price target on shares of Pfizer from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $28.44.

Pfizer Trading Down 3.2%

Shares of PFE opened at $23.95 on Wednesday. The firm's fifty day moving average is $24.40 and its two-hundred day moving average is $24.53. The company has a quick ratio of 0.96, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market cap of $136.15 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.90 and a beta of 0.52. Pfizer has a 52-week low of $20.92 and a 52-week high of $30.43.

Pfizer (NYSE:PFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.20. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $13.43 billion. Pfizer had a net margin of 16.84% and a return on equity of 21.33%. The company's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Research analysts forecast that Pfizer will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Institutional investors have recently made changes to their positions in the business. Clarity Asset Management Inc. bought a new stake in Pfizer in the fourth quarter valued at $27,000. Gould Capital LLC boosted its stake in shares of Pfizer by 97.2% during the 4th quarter. Gould Capital LLC now owns 1,000 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 493 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Pfizer in the first quarter worth about $27,000. Curio Wealth LLC lifted its holdings in Pfizer by 36,600.0% in the second quarter. Curio Wealth LLC now owns 1,101 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 1,098 shares during the period. Finally, North Capital Inc. bought a new stake in Pfizer during the 1st quarter valued at approximately $28,000. Hedge funds and other institutional investors own 68.36% of the company's stock.

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.