Pfizer (NYSE:PFE) Receives New Coverage from Analysts at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein initiated coverage on shares of Pfizer (NYSE:PFE) in a report released on Thursday, Briefing.com reports. The firm set a “market perform” rating and a $32.00 price target on the biopharmaceutical company’s stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 7.89% from the company’s current price.

PFE has been the topic of a number of other research reports. Barclays lifted their price objective on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on shares of Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Daiwa America upgraded shares of Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Daiwa Capital Markets upgraded Pfizer from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $28.00 to $34.00 in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $33.91.

Pfizer Trading Up 0.7 %

Shares of PFE opened at $29.66 on Thursday. Pfizer has a 52-week low of $25.20 and a 52-week high of $33.19. The stock has a market cap of $168.07 billion, a PE ratio of -494.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The firm’s fifty day moving average is $29.04 and its two-hundred day moving average is $28.42. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.65.

Pfizer (NYSE:PFE) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.14. Pfizer had a negative net margin of 4.66% and a positive return on equity of 8.42%. The company 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 company earned $0.67 EPS. Pfizer’s revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Pfizer will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LGT Group Foundation grew its holdings in Pfizer by 2.5% during the 2nd quarter. LGT Group Foundation now owns 742,875 shares of the biopharmaceutical company’s stock worth $20,786,000 after acquiring an additional 18,274 shares in the last quarter. ORG Partners LLC raised its stake in Pfizer by 1,729.9% in the second quarter. ORG Partners LLC now owns 47,028 shares of the biopharmaceutical company’s stock valued at $1,327,000 after buying an additional 44,458 shares in the last quarter. Kempner Capital Management Inc. purchased a new stake in Pfizer during the 1st quarter worth about $2,439,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of Pfizer by 29.1% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 342,361 shares of the biopharmaceutical company’s stock worth $9,579,000 after acquiring an additional 77,073 shares in the last quarter. Finally, First Foundation Advisors increased its holdings in shares of Pfizer by 15.3% in the 1st quarter. First Foundation Advisors now owns 155,951 shares of the biopharmaceutical company’s stock valued at $4,328,000 after acquiring an additional 20,670 shares during the last quarter. 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.