Pfizer, Inc. (NYSE: PFE) ended the trading day higher on Wednesday, December 24, 2025—an early-close session for U.S. equities ahead of Christmas—before holding essentially flat in after-hours trading.
The move may look modest on the surface, but it lands at a moment when Pfizer’s stock narrative is unusually “headline-sensitive”: investors are balancing near-term safety scrutiny around a newly approved hemophilia medicine, management’s fresh 2026 outlook, and the longer-running debate over how Pfizer bridges a looming patent cliff with an oncology- and obesity-focused pipeline.
PFE stock price after the bell: the closing print and after-hours check-in
Here’s the end-of-day snapshot investors are focused on tonight:
- At the close (early close):$25.05, up $0.17 (+0.68%), with the close timestamp listed at 12:59:59 PM EST. [1]
- After-hours (shortly after the bell):$25.03, down $0.02 (-0.08%) versus the close, with after-hours activity shown around 1:10 PM EST. [2]
- Broader late-day quote:$25.03 as of 19:20 UTC (late afternoon U.S. time), with an intraday range of $24.90 to $25.14.
One important practical detail for “tomorrow”: U.S. stock markets are closed on Christmas Day (Thursday, Dec. 25, 2025). The next regular session is Friday, Dec. 26, 2025 (with Christmas Eve already having closed early as scheduled). [3]
So the right setup isn’t “before the open tomorrow” so much as what to monitor during the holiday break before Friday’s reopen.
Why Pfizer stock rose today: a low-liquidity rebound while investors digest headline risk
Christmas Eve sessions are typically thin, and thin trading can exaggerate small changes in either direction. In Pfizer’s case, Wednesday’s uptick looked like a steadier “digest and reassess” session following a sharper burst of attention earlier this week around drug- and guidance-related headlines.
The market is currently treating Pfizer as a mid‑$20s range stock until investors see more evidence that the company can reaccelerate growth after COVID-era demand faded and as key products approach loss of exclusivity. That framing has appeared repeatedly in analyst commentary tied to Pfizer’s 2026 outlook. [4]
The most important Pfizer headline investors are still weighing tonight: Hympavzi trial death
The biggest single company-specific development hovering over PFE is the disclosure that a patient in a long-term study involving Pfizer’s hemophilia drug Hympavzi died after a stroke followed by a brain hemorrhage.
Key facts reported:
- The death occurred December 14 and was described publicly via the European Haemophilia Consortium, a patient support group. [5]
- The patient was enrolled in a study testing Hympavzi in hemophilia A or B patients with or without inhibitors. [6]
- Pfizer said it is working with the trial investigator and an independent external monitoring committee to better understand the circumstances, and it did not anticipate a broader safety impact based on current knowledge and overall clinical data. [7]
What matters for Friday’s session (and beyond) is not just the initial headline, but whether follow-up information emerges: trial protocol context, patient risk factors, regulator feedback, or any changes to trial conduct or labeling language. In large-cap pharma, incremental updates often move the stock more than the initial report—especially when the initial move happened in a low-liquidity window.
Guidance is still the macro story for PFE: 2026 expectations, COVID headwinds, and the patent cliff
Even without fresh breaking news today, Pfizer’s December guidance reset is still driving how analysts and institutional investors frame the stock.
From Pfizer’s own 2026 guidance release:
- 2026 revenue guidance:$59.5B to $62.5B [8]
- 2026 adjusted diluted EPS guidance:$2.80 to $3.00 [9]
- Pfizer also revised 2025 revenue guidance to approximately $62.0B, and described a roughly $1.5B year-over-year revenue headwind from COVID products plus an additional ~$1.5B impact tied to loss of exclusivity (LOE) products. [10]
Reuters’ coverage of the guidance emphasized why the market has been cautious: Pfizer has flagged “bumpy” years beginning in 2026 due to lower COVID vaccine/therapy sales, price cuts promised to the U.S. government, and patent expirations—and Reuters reported Pfizer does not expect to return to revenue growth until 2029. [11]
This is the crux of the PFE debate: can the pipeline and acquired assets fill the gap fast enough—and can cost savings protect margins while the revenue mix shifts?
Today’s notable analysis: oncology and obesity are the bridge strategy
One of the most widely circulated “today” analyses on Pfizer focused on the post‑LOE period and argues that Pfizer’s oncology pipeline and obesity push are designed to offset the 2026–2030 patent headwinds.
In that analysis (published Dec. 24), Pfizer is described as expecting a significant revenue impact from LOE on major products—explicitly including Eliquis, Vyndaqel, Ibrance, Xeljanz, and Xtandi in the 2026–2030 window. [12]
It also highlights late-stage oncology candidates and notes Pfizer’s stated ambition to build a larger oncology portfolio by 2030. [13]
On obesity specifically, the same analysis points to Pfizer’s Metsera acquisition (described there as a $10B deal adding multiple clinical-stage incretin/amylin programs) and an in‑license for an oral small-molecule GLP‑1 candidate from China-based YaoPharma as part of a “diverse obesity portfolio.” [14]
Why the obesity landscape just got more competitive this week
Pfizer’s obesity ambitions are being judged against a fast-moving competitive backdrop. This week, the FDA approved a pill version of Novo Nordisk’s Wegovy (oral semaglutide), a milestone that could expand the addressable market for GLP‑1 therapies by lowering barriers for patients who dislike injections. [15]
Even though this is not a Pfizer product, it matters for Pfizer shareholders because it:
- Raises the bar for what “next-gen” obesity convenience could look like
- Potentially accelerates demand expansion (and competition) ahead of Pfizer’s own obesity pipeline timelines
- Keeps investor focus on whether Pfizer can develop differentiated obesity assets quickly enough to matter before the next patent wave hits
Policy watch: Medicare negotiated prices and tariff-for-pricing dynamics
Two policy threads remain relevant for Pfizer’s 2026+ outlook:
- Medicare negotiated prices under the Inflation Reduction Act (IRA)
Reuters reported that Medicare enrollees are expected to pay significantly less out-of-pocket in 2026 for certain drugs, including Eliquis (co-marketed by Pfizer and Bristol Myers Squibb), as negotiated prices begin to flow through—alongside a new annual out‑of‑pocket cap. [16] - Pricing concessions connected to tariff relief
Reuters also described a deal framework in which Pfizer agreed to lower prescription drug prices in Medicaid in exchange for tariff relief—an example of how pricing pressure and industrial policy can intersect for large drugmakers. [17]
For PFE, the near-term question is less about one headline and more about the cumulative effect: pricing pressure, reimbursement shifts, and access changes can reshape long-run margin assumptions.
Forecasts and Wall Street stance heading into the next session: “Hold” with modest upside targets
Across commonly tracked analyst compilations, the tone into year-end remains cautious-to-neutral:
- One compilation shows 10 analysts with a consensus “Hold” and an average price target of $27.40 (low $24, high $35), implying roughly high-single-digit upside from current levels. [18]
- Another compilation lists 19 analysts with a “Hold” consensus and an average price target around $28.06 (high $35, low $24), implying low-double-digit upside from around $25. [19]
That combination—“Hold” ratings but targets above spot—often signals a market that sees Pfizer as inexpensive relative to history and peers, but still wants clearer proof of a durable growth engine before upgrading the story.
What to watch before the next market open (Friday, Dec. 26)
With markets shut Thursday for Christmas, the key is identifying what could realistically change sentiment before Friday morning:
1) Any follow-up on Hympavzi safety or trial status
Watch for additional details from investigators, regulators, or Pfizer on the reported trial death—especially anything suggesting changes to monitoring, eligibility, labeling, or trial endpoints. [20]
2) Pipeline and M&A framing—especially oncology and obesity
Investors are repeatedly being asked to “look through” the patent cliff and value Pfizer on what comes next. Any incremental pipeline updates—good or bad—can matter more than usual in this regime. [21]
3) Policy headlines that impact pricing assumptions
Keep an eye on Medicare pricing implementation details and any new developments in pricing/tariff negotiations that could alter long-term margin expectations. [22]
4) Holiday liquidity effects
Friday’s reopen can bring a “gap risk” dynamic: headlines that land during the holiday can lead to outsized opening moves because positioning is lighter than normal.
5) The next major hard catalyst: Q4 and full-year 2025 results on Feb. 3
Pfizer has scheduled a conference call on Tuesday, February 3, 2026 at 10:00 a.m. EST, tied to the release of its Fourth Quarter and Full Year 2025 Performance Report that morning. [23]
6) Dividend timeline (for income-focused holders)
Pfizer declared a $0.43 quarterly dividend payable March 6, 2026 to shareholders of record January 23, 2026. [24]
Bottom line for tonight
Pfizer stock is ending Dec. 24 with a mild gain and a calm after-hours tape—$25.05 at the early close and about $25.03 after-hours—but the “real” setup is for Friday, Dec. 26, not Thursday, because U.S. markets are closed for Christmas. [25]
Between now and the next open, the market’s attention will likely stay centered on three variables: Hympavzi headline follow-through, confidence in 2026 guidance and cost discipline, and whether oncology + obesity can credibly bridge the 2026–2030 patent cliff. [26]
This article is for informational purposes only and is not investment advice.
References
1. finance.yahoo.com, 2. finance.yahoo.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.reuters.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.pfizer.com, 9. www.pfizer.com, 10. www.pfizer.com, 11. www.reuters.com, 12. www.nasdaq.com, 13. www.nasdaq.com, 14. www.nasdaq.com, 15. www.wired.com, 16. www.reuters.com, 17. www.reuters.com, 18. stockanalysis.com, 19. www.marketbeat.com, 20. www.reuters.com, 21. www.nasdaq.com, 22. www.reuters.com, 23. www.pfizer.com, 24. www.businesswire.com, 25. finance.yahoo.com, 26. www.reuters.com
