Pfizer Inc.'s stock traded modestly higher near $27.14 in late February 2026, closing at $27.14 on February 24 after a 0.30% gain, as the pharmaceutical giant builds on solid fourth-quarter and full-year 2025 results that beat expectations while reaffirming its 2026 outlook despite anticipated revenue pressures from declining COVID-19 products and patent expirations.

Illustration shows Pfizer logo
Illustration shows Pfizer logo

As of February 24, 2026, Pfizer (NYSE: PFE) traded in a session range of $27.08 to $27.42 with volume of approximately 34.7 million shares. The shares have risen about 6-7% over the past month and remain near the upper end of their 52-week range from around $20.92 to $27.94. Market capitalization stands near $153-154 billion, reflecting cautious optimism amid a transitional period for the company.

The performance follows Pfizer's fourth-quarter and full-year 2025 earnings released February 3, 2026. The company reported full-year revenue of $62.6 billion, down 2% operationally year-over-year, but non-COVID portfolio revenues grew 6% operationally. Fourth-quarter revenue reached $17.6 billion, down 3% operationally, while adjusted diluted EPS for Q4 hit $0.66, beating consensus estimates of around $0.56-$0.57 by $0.09-$0.10. Full-year adjusted diluted EPS came in at $3.22, above prior guidance ranges.

Excluding contributions from Comirnaty and Paxlovid, the company delivered strong underlying growth driven by oncology, rare disease, and other key franchises. Management highlighted disciplined execution, cost savings, and margin expansion, with adjusted gross margin reaching 76% for the year. Free cash flow remained robust, supporting $9.8 billion in dividend payments and investments in R&D and business development, including the Metsera acquisition and other deals adding to the obesity and immunology pipeline.

Pfizer reaffirmed its full-year 2026 guidance, projecting revenue of $59.5 billion to $62.5 billion and adjusted diluted EPS of $2.80 to $3.00. The outlook incorporates approximately $5 billion in expected COVID-19 product revenues and a roughly $1.5 billion negative impact from products facing loss of exclusivity (LOE). Non-COVID and non-LOE revenues are anticipated to grow about 4% operationally at the midpoint. The guidance also reflects productivity savings of $7.2 billion targeted by end-2026, manufacturing program savings of $1.5 billion by 2027, and continued investment in approximately 20 key pivotal study starts planned for 2026.

CEO Albert Bourla described 2025 as "a very good year" marked by strong execution, while noting 2026 as a catalyst-rich period with pivotal trials advancing, including in obesity (ultra-long-acting assets from Metsera) and oncology (PD-1 x VEGF bispecific from 3SBio). The company emphasized its late-stage pipeline strength and strategic focus on high-value therapeutic areas to offset headwinds.

Analysts remain mixed but generally constructive on the long-term outlook. Consensus among 22 analysts rates PFE a Hold, with average 12-month price targets around $27.70—implying modest upside of about 2% from recent levels. Targets range from lows near $23-$24 to highs of $35, reflecting divergence on pipeline execution and revenue risks. Some firms maintain Buy ratings citing undervaluation and dividend appeal (yield around 6.3-6.4%), while others express caution over patent cliffs and modest growth prospects.

The next earnings report, for first-quarter 2026, is expected in late April or early May 2026. Investors will scrutinize updates on non-COVID growth, pipeline milestones, cost discipline, and any refinements to full-year guidance amid evolving macro and policy dynamics.

Pfizer continues navigating a post-COVID landscape with a diversified portfolio, robust cash flow, and aggressive R&D investment. While near-term revenue faces headwinds from declining pandemic products and LOE impacts, the company's scale, pipeline advancements, and shareholder returns position it for potential recovery as new therapies launch in coming years. With shares trading at attractive multiples relative to historical averages and peers, Pfizer remains a core holding for income-focused investors seeking stability in healthcare.