StockNews.com Downgrades Pfizer (NYSE:PFE) to Buy

Pfizer (NYSE:PFE) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

Several other research analysts have also issued reports on the stock. Citigroup started coverage on shares of Pfizer in a research note on Friday, October 25th. They issued a “neutral” rating and a $30.00 price target for the company. Wells Fargo & Company raised their target price on shares of Pfizer from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Barclays boosted their price target on Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Sanford C. Bernstein started coverage on Pfizer in a research report on Thursday, October 17th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, Daiwa America raised Pfizer from a “moderate buy” rating to a “strong-buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.92.

Pfizer Price Performance

PFE stock opened at $25.10 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.00 and a quick ratio of 0.73. Pfizer has a 1 year low of $24.48 and a 1 year high of $31.54. The firm has a 50-day moving average of $28.45 and a 200 day moving average of $28.63. The company has a market cap of $142.24 billion, a P/E ratio of 33.92, a PEG ratio of 0.79 and a beta of 0.67.

Pfizer (NYSE:PFE) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.42. The company had revenue of $17.70 billion during the quarter, compared to analysts’ expectations of $14.92 billion. Pfizer had a return on equity of 16.28% and a net margin of 7.07%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, sell-side analysts forecast that Pfizer will post 2.96 EPS for the current year.

Insider Transactions at Pfizer

In related news, Director Scott Gottlieb bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were bought at an average price of $28.24 per share, for a total transaction of $28,240.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $282,400. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Pfizer

Several hedge funds and other institutional investors have recently modified their holdings of PFE. Olistico Wealth LLC bought a new position in Pfizer in the second quarter valued at about $25,000. MFA Wealth Advisors LLC purchased a new position in shares of Pfizer in the second quarter worth approximately $29,000. Gladius Capital Management LP grew its position in Pfizer by 102.8% during the third quarter. Gladius Capital Management LP now owns 1,043 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 38,015 shares during the period. Quarry LP purchased a new stake in Pfizer during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in Pfizer in the second quarter worth approximately $34,000. 68.36% of the stock is owned by 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.