Pfizer (NYSE:PFE) Now Covered by Citigroup

Analysts at Citigroup initiated coverage on shares of Pfizer (NYSE:PFE) in a research note issued on Friday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $30.00 price target on the biopharmaceutical company’s stock. Citigroup’s price target would indicate a potential upside of 5.45% from the stock’s previous close.

A number of other research firms have also weighed in on PFE. Cantor Fitzgerald reissued an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Wednesday. Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a research report on Wednesday, August 7th. Sanford C. Bernstein began coverage on Pfizer in a research note on Thursday, October 17th. They set a “market perform” rating and a $32.00 target price for the company. Wells Fargo & Company lifted their price target on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Pfizer from a “hold” rating to a “buy” rating in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Pfizer has an average rating of “Moderate Buy” and an average target price of $33.58.

Pfizer Price Performance

Shares of NYSE:PFE opened at $28.45 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market capitalization of $161.21 billion, a P/E ratio of -474.17, a P/E/G ratio of 1.01 and a beta of 0.67. The business has a 50-day moving average of $29.08 and a two-hundred day moving average of $28.51. Pfizer has a fifty-two week low of $25.20 and a fifty-two week high of $31.54.

Pfizer (NYSE:PFE) last announced its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.14. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. During the same quarter in the prior year, the business earned $0.67 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that Pfizer will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Several institutional investors and hedge funds have recently made changes to their positions in the company. Atlas Capital Advisors LLC grew its position in Pfizer by 54.4% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,702 shares of the biopharmaceutical company’s stock worth $47,000 after acquiring an additional 600 shares during the last quarter. Kathmere Capital Management LLC acquired a new position in Pfizer in the first quarter worth $203,000. Hodges Capital Management Inc. increased its stake in shares of Pfizer by 16.9% in the first quarter. Hodges Capital Management Inc. now owns 12,127 shares of the biopharmaceutical company’s stock valued at $337,000 after buying an additional 1,752 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Pfizer by 16.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 41,275 shares of the biopharmaceutical company’s stock valued at $1,145,000 after buying an additional 5,682 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its position in Pfizer by 13.2% during the 1st quarter. Griffin Asset Management Inc. now owns 67,989 shares of the biopharmaceutical company’s stock worth $1,887,000 after buying an additional 7,943 shares in the last quarter. Institutional investors and hedge funds 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.