Pfizer (NYSE:PFE) Shares Up 1.1% on Analyst Upgrade

Key Points

• Pfizer's shares rose by 1.1% following an upgrade from Bank of America, which increased its price target from $28.00 to $30.00.
• Analyst ratings on Pfizer are mixed, with two Strong Buy ratings, four Buy, eleven Hold, and one Sell, leading to an average rating of "Hold" and a price target of $28.41.
• Pfizer reported a $0.78 earnings per share for the last quarter, exceeding expectations, alongside a revenue increase of 10.3% year-over-year to $14.65 billion.

Shares of Pfizer Inc. (NYSE:PFE - Get Free Report) rose 1.1% during mid-day trading on Friday after Bank of America raised their price target on the stock from $28.00 to $30.00. Bank of America currently has a neutral rating on the stock. Pfizer traded as high as $27.69 and last traded at $27.37. Approximately 70,256,539 shares changed hands during trading, an increase of 50% from the average daily volume of 46,742,602 shares. The stock had previously closed at $27.08.

Several other research firms have also issued reports on PFE. Morgan Stanley lifted their price target on shares of Pfizer from $32.00 to $33.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wall Street Zen lowered shares of Pfizer from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. UBS Group reissued a "neutral" rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday. Finally, Citigroup boosted their price objective on shares of Pfizer from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Pfizer currently has an average rating of "Hold" and an average price target of $28.41.

Institutional Investors Weigh In On Pfizer

Several hedge funds have recently modified their holdings of PFE. Norges Bank purchased a new stake in shares of Pfizer during the 2nd quarter worth about $2,270,157,000. Pacer Advisors Inc. boosted its stake in shares of Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company's stock worth $508,164,000 after acquiring an additional 17,957,928 shares in the last quarter. Amundi boosted its stake in shares of Pfizer by 43.4% during the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company's stock worth $1,265,277,000 after acquiring an additional 15,758,846 shares in the last quarter. Nuveen LLC acquired a new position in shares of Pfizer during the 1st quarter worth about $389,861,000. Finally, Vanguard Group Inc. raised its position in shares of Pfizer by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 533,363,457 shares of the biopharmaceutical company's stock worth $12,928,730,000 after purchasing an additional 10,198,330 shares during the last quarter. 68.36% of the stock is owned by hedge funds and other institutional investors.

Pfizer Stock Performance

The company has a current ratio of 1.16, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average is $24.62 and its two-hundred day moving average is $24.14. The stock has a market cap of $155.59 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 0.88 and a beta of 0.55.

Pfizer (NYSE:PFE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.20. Pfizer had a net margin of 16.84% and a return on equity of 21.42%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $13.43 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, sell-side analysts expect that Pfizer Inc. will post 2.95 earnings per share for the current year.

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.

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