Pfizer Stock (PFE) Before the Bell on November 14, 2025: Metsera Deal Closes, BioNTech Stake Cut and Guidance Raised

As Wall Street heads into Friday’s session, Pfizer stock is trading slightly lower in premarket action while investors digest a trio of big developments: the completed acquisition of obesity‑drug developer Metsera, a sharp reduction in Pfizer’s stake in BioNTech, and a recent earnings report that lifted 2025 profit guidance but confirmed that COVID revenue continues to fade. ^[1]

Benzinga’s real‑time quote shows Pfizer (NYSE: PFE) around $25.6 ahead of the U.S. market open, roughly 1% belowThursday’s close of $25.79, putting the shares on track for a mildly negative start to the day. ^[2]

Below is what traders and long‑term investors should know before the opening bell.

1. Pfizer stock premarket snapshot

Last close (Nov. 13, 2025): $25.79
Premarket (around 7:00 a.m. ET): ~$25.59, down about 1.1% ^[3]
12‑month range: roughly $20.92–$27.69 ^[4]
Market cap: about $146 billion ^[5]
Dividend yield: around 6.7%, based on a quarterly dividend of $0.43 per share ($1.72 annualized) ^[6]

Data from MarketScreener also show PFE trading near $25.50 in premarket dealings, about 1.1% below Thursday’s close, reinforcing the picture of a modestly risk‑off tone around the stock this morning. ^[7]

On Stocktwits, retail sentiment is described as “bullish” with high message volume, even as the platform notes that Pfizer shares were about 0.5% lower premarket earlier in the morning. ^[8]

2. Metsera acquisition: Pfizer goes all‑in on obesity drugs

The single biggest corporate headline for Pfizer today is the completed takeover of Metsera, a clinical‑stage biotech focused on obesity and cardiometabolic diseases. ^[9]

Deal terms and valuation

According to Pfizer’s press release and related transaction filings: ^[10]

Pfizer acquired all outstanding Metsera shares for $65.60 in cash per share, implying an enterprise value of roughly $7.0 billion at closing.
Shareholders also receive a contingent value right (CVR) worth up to $20.65 per share tied to three clinical and regulatory milestones, lifting the maximum deal value to just over $10 billion if all targets are met.
Metsera is now a wholly owned Pfizer subsidiary, and its stock will cease trading on the Nasdaq after today’s close.

What Pfizer is buying

The strategic draw is Metsera’s next‑generation obesity pipeline. Pfizer highlights several key assets: ^[11]

MET‑097i – a weekly and monthly injectable GLP‑1 receptor agonist that is “about to begin Phase 3 development.” A once‑monthly dosing schedule could make it a potential rival to Novo Nordisk’s Wegovy and Eli Lilly’s Zepbound, which require weekly injections.
MET‑233i – a monthly amylin analog in Phase 1 trials, being tested alone and combined with MET‑097i for potentially deeper and more durable weight‑loss effects.
An oral GLP‑1 drug candidate already in Phase 1, plus additional preclinical hormone‑based therapiestargeting obesity and related metabolic conditions.

Pfizer describes the acquisition as transforming its Internal Medicine portfolio and positioning the company to be a leader in one of the fastest‑growing therapeutic areas. CEO Albert Bourla called the deal “a deliberate investment in the future of medicine” and said Pfizer aims to pair Metsera’s science with its global development and commercialization engine. ^[12]

Financial impact

Investors should note that Pfizer expects the Metsera transaction to be earnings‑dilutive through 2030, as it steps up spending to advance multiple late‑stage programs. Updated detailed guidance on the deal’s P&L impact will come with Pfizer’s 2026 outlook later this year. ^[13]

That trade‑off—short‑term EPS dilution in exchange for long‑term weight‑loss franchise potential—is a central question for how PFE trades today and in coming months.

3. Pfizer slashes its BioNTech stake but keeps the partnership

A second big storyline is Pfizer’s decision to cut its equity stake in BioNTech by 54.7%, according to a regulatory filing summarized by GuruFocus and Reuters. ^[14]

Key details:

Pfizer now holds about 1.66 million BioNTech American Depositary Shares, valued around $163.5 million as of September 30. ^[15]
The company framed the move as part of a broader effort to recycle capital as it navigates a looming patent cliff and seeks to generate an additional $20 billion in annual revenue by 2030. ^[16]
BioNTech and Pfizer first joined forces in 2018 to work on mRNA vaccines, eventually co‑developing Comirnaty, the first authorized COVID‑19 mRNA vaccine. Comirnaty generated about $37.8 billion in 2022 sales at its peak, underscoring how large the pandemic windfall was for both companies. ^[17]

Importantly for investors worried about future vaccine cash flows, BioNTech has said that the collaboration itself remains unchanged despite Pfizer selling down its stake. ^[18]

Still, Friday’s premarket weakness suggests some investors are wary, reading the move as another sign that COVID revenues will keep shrinking while the company spends more aggressively on pipeline rebuilds. The Stocktwits article that broke down today’s premarket action specifically connects the share sale and the Metsera deal as part of a wider “pipeline reset” strategy. ^[19]

4. Q3 2025 earnings recap: solid profit, softer revenue

Today’s trading is also happening in the shadow of Pfizer’s third‑quarter 2025 results, released earlier this month.

Headline numbers

According to Pfizer’s earnings release and a BusinessWire/BioSpace summary: ^[20]

Revenue: $16.7 billion in Q3 2025, down 6% year‑over‑year (7% lower on an operational basis).
Non‑COVID portfolio: grew 4% operationally, reflecting strong demand in core franchises such as Eliquis, Vyndaqel and migraine medicine Nurtec ODT/Vydura.
Reported EPS: $0.62, down from $0.78 a year ago.
Adjusted EPS: $0.87, down from $1.06 a year ago but above the $0.79 Wall Street consensus cited by MarketBeat. ^[21]

On revenue, the picture is more nuanced. Pfizer reported $16.65–$16.7 billion for the quarter; MarketBeat’s compiled analyst estimate was about $16.94 billion (a small miss), while at least one Seeking Alpha analysis characterizes the performance as a modest beat versus other consensus sets. ^[22]

The main drag remains the COVID franchise: Paxlovid sales fell 55% operationally, and Comirnaty revenue dropped 20% operationally, reflecting lower infection rates and narrower U.S. vaccine recommendations. ^[23]

Guidance raised and narrowed

Despite the revenue decline, Pfizer reaffirmed its 2025 revenue guidance of $61–$64 billion and raised its adjusted EPS outlook: ^[24]

Revenue guidance 2025: $61.0–$64.0 billion (unchanged).
Adjusted diluted EPS guidance 2025: lifted to $3.00–$3.15, from a prior $2.90–$3.10 range.
The EPS range includes a one‑time $1.35 billion acquired in‑process R&D charge tied to an in‑licensing deal with 3SBio, which shaved about $0.20 per share off earnings. ^[25]

Pfizer also emphasized that it remains on track to deliver roughly $7.2 billion in net cost savings by the end of 2027, driven by a broad realignment program, R&D reorganization and a manufacturing optimization effort. ^[26]

Capital allocation and dividends

For income‑focused investors, several points stand out: ^[27]

Pfizer paid $7.3 billion in cash dividends in the first nine months of 2025, equal to $1.29 per share over that period.
The current quarterly dividend is $0.43 per share, with an ex‑dividend date of November 7 and payment date of December 1, implying a 6.7% yield at recent prices. ^[28]
No share repurchases have been executed so far in 2025, and guidance does not assume any buybacks this year, even though Pfizer still has $3.3 billion remaining under its authorization. Management says it prefers to de‑lever and keep flexibility for deals like Metsera. ^[29]

5. Analyst sentiment and valuation heading into Friday

Wall Street’s view on Pfizer remains mixed but generally constructive.

Street targets and ratings

A new note this morning from Rothschild & Co Redburn trimmed its price target on PFE to $24 from $25, maintaining a Neutral rating. ^[30]

Broader analyst data compiled by MarketBeat show: ^[31]

Consensus rating: “Hold.”
Average price target: $28.28 per share—about 10–12% upside from where the stock is trading premarket.
Rating mix: 1 Strong Buy, 5 Buy, 12 Hold, 1 Sell.
Several major firms, including Morgan Stanley, Bank of America, and Scotiabank, have recently reiterated neutral or sector‑perform stances, with targets mostly in the $26–$32 range.

Benzinga, highlighting PFE as a high‑yield healthcare name, points to a dividend yield around 6.7% and cites recent calls from Morgan Stanley and BofA that keep the stock at Equal‑Weight/Neutral while trimming or slightly raising price targets. ^[32]

A separate Seeking Alpha analysis this morning argues that Pfizer’s combination of: ^[33]

a strengthened pipeline (now including Metsera’s obesity assets),
a large cost‑saving program, and
a high dividend yield

makes the stock look attractive on valuation, rating PFE a “buy” around $26 with the caveat that investors should closely watch the progress of Metsera’s clinical programs and Pfizer’s execution on cost cuts.

Valuation snapshot

Using MarketBeat’s numbers, Pfizer is currently trading at: ^[34]

Price/earnings (trailing): ~13.7
PEG ratio: ~0.81
Beta: 0.54 (less volatile than the broader market)
Institutional ownership: about 68% of shares outstanding.

These metrics support the narrative that Pfizer is being priced as a defensive, income‑oriented turnaround story rather than a high‑growth biotech, despite its push into obesity and other high‑value areas.

6. Options and technical context for today

With options expiring on November 14, 2025, derivatives activity could add extra volatility into today’s session:

Data from options trackers show a busy open interest profile for today’s expiry dates, with some services estimating a “max pain” level around $24.50–$25.00 for PFE options. ^[35]

From a price‑action perspective, Investing.com’s history indicates that: ^[36]

PFE has climbed from the low‑$20s over the past year to trade mostly in the mid‑$20s recently.
The 50‑day and 200‑day moving averages sit close together around the mid‑$24s, suggesting the stock is consolidating after a period of volatility.

Options expiry near those levels may encourage short‑term traders to watch how the stock behaves around $25, which has been an important psychological area over recent months.

7. What to watch in Pfizer stock today

Going into the U.S. open, here are the key storylines that could move PFE:

Market reaction to the Metsera deal
- Bulls will emphasize the long‑run GLP‑1 and obesity opportunity and Pfizer’s chance to become a major weight‑loss player.
- Bears may focus on the deal’s dilutive impact through 2030 and uncertainties around Phase 3 trial outcomes and regulatory timelines. ^[37]
Sentiment around the BioNTech stake sale
- The sale underscores that the COVID boom is firmly behind the company, but investors will want reassurance that Comirnaty‑related cash flows and the broader mRNA partnership stay intact. ^[38]
Follow‑through on guidance and cost savings
- With 2025 EPS guidance raised to $3.00–$3.15, any fresh commentary from analysts or management about meeting that range while funding Metsera and other BD could influence how sustainable today’s dividend looks. ^[39]
Dividend and income‑investor demand
- A yield near 6.7%—in a mega‑cap pharma name—tends to draw value and income buyers on pullbacks, but payout sustainability will be scrutinized as Pfizer juggles debt, R&D, and acquisitions. ^[40]
Sector and obesity‑drug peers
- Moves in Novo Nordisk and Eli Lilly—both deeply entrenched in the GLP‑1 market—may serve as sentiment proxies for how investors view Pfizer’s chances in obesity over the next decade. ^[41]

8. Bottom line for investors before the bell

Heading into the November 14 open, Pfizer stock is trading modestly lower premarket as the market weighs a high‑stakes pivot toward obesity drugs, a strategic exit from much of its BioNTech stake, and a profit profile that is stabilizing but still adjusting to post‑pandemic realities.

If you’re a short‑term trader, Metsera headlines, options expiry levels around $25, and any fresh analyst commentary are likely to drive intraday swings.
If you’re a long‑term investor, the key questions are whether Pfizer can turn its obesity and cardiometabolic bets into durable, high‑margin franchises and whether management can deliver on cost‑savings and EPS guidance while keeping that hefty dividend intact.

As always, this article is for informational purposes only and is not investment advice. Anyone considering trades in PFE should evaluate their own risk tolerance, time horizon, and financial situation—or consult a licensed financial professional.

Pfizer CEO talks lowering drug prices, tariffs, and earnings