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

Key Points

• Bank of America raised Pfizer's price target from $28.00 to $30.00, suggesting an upside potential of 10.80% from its previous close, while maintaining a "neutral" rating.
• Consensus among analysts shows a mixed outlook for Pfizer, with two Strong Buy ratings, four Buy ratings, eleven Hold ratings, and one Sell rating, reflecting overall uncertainty.
• Pfizer recently reported earnings of $0.78 per share, exceeding expectations, with a quarterly revenue of $14.65 billion, indicating a 10.3% year-over-year growth.

Pfizer (NYSE:PFE - Get Free Report) had its price target hoisted by research analysts at Bank of America from $28.00 to $30.00 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the biopharmaceutical company's stock. Bank of America's price objective indicates a potential upside of 10.80% from the stock's previous close.

Several other analysts have also recently commented on PFE. Wall Street Zen cut shares of Pfizer from a "buy" rating to a "hold" rating in a research note on Sunday, September 28th. UBS Group reaffirmed a "neutral" rating and set a $28.00 price objective on shares of Pfizer in a report on Wednesday. Morgan Stanley upped their target price on Pfizer from $32.00 to $33.00 and gave the company an "equal weight" rating in a report on Wednesday, August 6th. Finally, Citigroup lifted their price target on Pfizer from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Pfizer presently has a consensus rating of "Hold" and an average target price of $28.41.

Pfizer Price Performance

Shares of PFE opened at $27.08 on Friday. 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 stock's 50 day moving average is $24.62 and its two-hundred day moving average is $24.14. Pfizer has a twelve month low of $20.92 and a twelve month high of $30.43. The firm has a market capitalization of $153.94 billion, a PE ratio of 14.40, a P/E/G ratio of 0.88 and a beta of 0.55.

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

Hedge Funds Weigh In On Pfizer

Several large investors have recently added to or reduced their stakes in the business. Capital Advisory Group Advisory Services LLC increased its holdings in Pfizer by 2.9% during the 2nd quarter. Capital Advisory Group Advisory Services LLC now owns 13,542 shares of the biopharmaceutical company's stock worth $328,000 after purchasing an additional 388 shares during the period. Citizens National Bank Trust Department lifted its stake in Pfizer by 0.9% in the second quarter. Citizens National Bank Trust Department now owns 46,103 shares of the biopharmaceutical company's stock worth $1,118,000 after acquiring an additional 395 shares during the last quarter. Peak Asset Management LLC increased its position in shares of Pfizer by 1.4% in the 2nd quarter. Peak Asset Management LLC now owns 28,768 shares of the biopharmaceutical company's stock valued at $697,000 after purchasing an additional 402 shares during the last quarter. Able Wealth Management LLC raised its holdings in shares of Pfizer by 2.0% in the 2nd quarter. Able Wealth Management LLC now owns 21,128 shares of the biopharmaceutical company's stock valued at $512,000 after purchasing an additional 413 shares in the last quarter. Finally, Trust Co of the South lifted its position in shares of Pfizer by 1.5% during the 2nd quarter. Trust Co of the South now owns 29,386 shares of the biopharmaceutical company's stock worth $712,000 after purchasing an additional 441 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

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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