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

Pfizer (NYSE:PFE) had its price target upped by Bank of America from $28.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Bank of America‘s price objective points to a potential upside of 9.63% from the company’s current price.

A number of other research analysts also recently commented on PFE. UBS Group reiterated a “neutral” rating and set a $28.00 price objective on shares of Pfizer in a research note on Wednesday. Wall Street Zen lowered shares of Pfizer from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. 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. Finally, Morgan Stanley upped their price objective on Pfizer from $32.00 to $33.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 6th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Pfizer has an average rating of “Hold” and a consensus target price of $28.41.

Pfizer Trading Up 1.1%

NYSE:PFE opened at $27.37 on Friday. The stock has a market cap of $155.59 billion, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.55. Pfizer has a one year low of $20.92 and a one year high of $30.43. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 1.16. The business’s 50-day simple moving average is $24.67 and its 200 day simple moving average is $24.14.

Pfizer (NYSE:PFE) last posted its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.20. The company had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $13.43 billion. Pfizer had a return on equity of 21.42% and a net margin of 16.84%.Pfizer’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Pfizer has set its FY 2025 guidance at 2.900-3.100 EPS. As a group, sell-side analysts predict that Pfizer will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Pfizer

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Pfizer during the second quarter worth about $2,270,157,000. Pacer Advisors Inc. boosted its stake in Pfizer by 856.8% during the 1st quarter. Pacer Advisors Inc. now owns 20,053,828 shares of the biopharmaceutical company’s stock valued at $508,164,000 after purchasing an additional 17,957,928 shares during the period. Amundi grew its position in Pfizer by 43.4% in the 1st quarter. Amundi now owns 52,090,403 shares of the biopharmaceutical company’s stock worth $1,265,277,000 after purchasing an additional 15,758,846 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Pfizer in the first quarter valued at approximately $389,861,000. Finally, Vanguard Group Inc. raised its holdings in shares of Pfizer by 1.9% during the second quarter. Vanguard Group Inc. now owns 533,363,457 shares of the biopharmaceutical company’s stock valued at $12,928,730,000 after buying an additional 10,198,330 shares during the last quarter. 68.36% of the stock is owned by institutional investors and hedge funds.

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.