Pfizer Inc (NYSE:PFE) has been included in the investors’ watch list in the Healthcare space, which focused on drug manufacturers.
The stock remained positive and changed hands at $33.51, up from the previous close of 2.32% in recent sessions. As the stock continues to show good signs, analysts have taken a closer look at the company’s recent data.
The pharmaceutical company has been competing well with others in the Healthcare space and continues to offer an integrated factor.
The company is currently changing hands with a market capitalization of $203.54 billion, suggesting a positive adjustment for revenues that are constantly growing by 7.93% on a quarterly year basis ahead of its recent quarterly report announcement.
Meanwhile, Pfizer Inc. gained 4.62% last month, which came in at a relatively strong transaction volume. The stock has underperformed the S&P 500 by 23.32, which stood there in a less volatile market, compared with most of the other stocks on the exchange.
Will Pfizer Move Higher?
Research firms covering shares of the pharmaceutical company are expecting the stock to change hands between $30 and $52 within the next year. The mean consensus price target settled at $37.846.
Analysts are expecting the company to post an earnings per share (EPS) of $0.66 for the current quarter, topping the actual earnings of $0.47, which was recently announced for the period ending on December 31, 2016.
Given the anticipated next release of the company, it is expected that investors will closely watch on the company’s next earnings report estimated on May 2, 2017.
The chart below illustrates the price movement of the Pfizer Inc. ahead of the anticipated next earnings release.
The stock is showing a bullish tone, after shares posted four straight gains, both in a light and heavy trading volume. Additionally, the RSI currently stood at 72.3494, which suggest that the overbought level was already reached.
Conclusion
Given that market participants are expected to closely watch the company’s next earnings release, along with the bullish tone, the RSI could give a signal for the stock to reach its peak as the overbought level has already been reached.
Moreover, investors are recommended to close any buy position, as shares could decline until the next earnings report.