Pfizer Stock Price Today (PFE): TrumpRx Drug Deal, $10B Metsera Buyout and 2026 Forecast

Updated November 30, 2025

Pfizer stock is in the middle of a big reset. The COVID windfall is fading, but a massive obesity-drug acquisition, a landmark bladder‑cancer approval and a high dividend yield are reshaping the story investors see in PFE.

Pfizer stock price today: valuation snapshot

As of the last trading session on Friday, November 28, Pfizer Inc. (NYSE: PFE) closed at $25.74 per share. That gives the company a market capitalization of roughly $146 billion. ^[1]

Key current metrics:

Price: $25.74
52‑week range: $20.92 – $27.69 ^[2]
Trailing P/E: about 15x earnings
Forward P/E: about 8.6x, based on 12‑month earnings estimates ^[3]
Dividend: $1.72 per share annually (four quarterly payments of $0.43)
Dividend yield: roughly 6.7% at the current price ^[4]
EV/EBITDA: about 7.8–7.9x, below many large‑cap pharma peers ^[5]
Beta (5‑year): ~0.4–0.45, meaning PFE tends to be less volatile than the broader market ^[6]

Pfizer’s share price is still down sharply from its 2021–2022 COVID peak above $50, so even after a modest 2025 rebound, the stock trades at roughly half those prior highs.

Latest company news moving Pfizer stock

1. Q3 2025 earnings: EPS guidance raised, cost cuts on track

On November 4, 2025, Pfizer reported Q3 2025 results:

Revenue: about $16.7 billion, down ~6–7% year‑on‑year, reflecting the continued decline in COVID product sales.
Adjusted EPS: $0.87; reported EPS: $0.62. ^[7]
Non‑COVID portfolio: grew ~4% operationally, led by Eliquis and other core products. ^[8]

Crucially, Pfizer:

Reaffirmed its 2025 revenue guidance of $61–$64 billion
Raised and narrowed its adjusted 2025 EPS guidance to $3.00–$3.15, up from a prior $2.80–$3.00 range. ^[9]

Management also highlighted:

A multi‑year cost‑savings program targeting ~$7.2 billion in net savings by the end of 2027
$7.2 billion invested in internal R&D in the first nine months of 2025, underscoring ongoing pipeline spending despite restructuring. ^[10]

Analysts have generally characterized the quarter as solid: EPS beat expectations, revenue came in roughly in line, and the guidance uplift is driven partly by cost cuts and a lower tax rate rather than top‑line acceleration. ^[11]

2. TrumpRx & the Medicaid drug‑price deal: regulatory cloud clearing

A major new macro driver for Pfizer — and the whole U.S. pharma sector — came from Washington, not Wall Street.

On September 30, 2025, President Donald Trump announced that Pfizer agreed to cut the price of all its prescription drugs in the Medicaid program for low‑income Americans in exchange for tariff relief on U.S. drug exports. ^[12]

Key points from the deal:

Pfizer will provide broad discounts across its Medicaid book.
In return, it gains relief from certain tariffs that had threatened profit margins on exported drugs.
Pfizer will also be a founding participant in TrumpRx.gov, a government‑run direct‑to‑consumer website slated to launch in early 2026, allowing Americans to buy some medicines directly from manufacturers at reduced prices. ^[13]

Markets initially rallied on the news: Reuters and other outlets described the agreement as less punitive than feared and as a “clearing event” that removes the worst‑case overhang from U.S. drug‑pricing reform. ^[14]

For Pfizer stock, the message is mixed:

Near‑term: lower Medicaid pricing pressures margins.
Medium‑term: the removal of harsher policy scenarios and clarity on TrumpRx could justify higher valuation multiples than the market had been assigning to “politically exposed” drugmakers.

3. $10 billion Metsera obesity‑drug acquisition: Pfizer re‑enters a red‑hot market

Pfizer’s biggest strategic swing in 2025 is its move into the booming obesity and cardiometabolic space.

After a fierce bidding war with Novo Nordisk, Pfizer agreed to acquire Metsera, an obesity‑drug developer, in a deal valued at up to $10 billion:

Pfizer is paying $65.60 in cash per Metsera share plus a contingent value right (CVR) of up to $20.65 per share tied to clinical and regulatory milestones. ^[15]
The total potential value: $86.25 per share, or roughly $10 billion. ^[16]
The acquisition closed on November 13, 2025, and Metsera is now a wholly owned Pfizer subsidiary. ^[17]

Why this matters for PFE:

Metsera brings GLP‑1 and amylin analog candidates targeting obesity and cardiometabolic disease — the same therapeutic class that produced blockbusters like Wegovy and Ozempic for Novo Nordisk and Mounjaro for Eli Lilly. ^[18]
Lead candidate MET‑097i, a once‑monthly GLP‑1 injection, has shown around 14% placebo‑adjusted weight loss in clinical studies, a competitive profile versus existing weekly treatments, according to Reuters and other coverage. ^[19]
Metsera’s pipeline is expected to reach the market around 2028–2029, giving Pfizer a long‑run growth leg just as key older products hit their patent cliffs. ^[20]

Pfizer itself has cautioned that the Metsera deal will be earnings‑dilutive through 2030, but management argues that securing a position in an obesity market projected to be $100–150 billion annually by the end of the decade is worth the near‑term drag. ^[21]

4. PADCEV + Keytruda: a landmark bladder‑cancer approval

On November 21, 2025, the U.S. FDA approved PADCEV® (enfortumab vedotin‑ejfv) plus Keytruda® (pembrolizumab) as a perioperative treatment (before and after surgery) for adults with muscle‑invasive bladder cancer (MIBC) who are ineligible for cisplatin‑based chemotherapy. ^[22]

Trial highlights from the pivotal EV‑303 / KEYNOTE‑905 study:

The combo cut the risk of disease recurrence, progression or death by about 60% vs. surgery alone.
It reduced the risk of death by about 50% compared with surgery alone. ^[23]

For Pfizer, which co‑markets PADCEV with Astellas, this strengthens its oncology growth pillar and supports the investment case that cancer and other specialty drugs can offset future revenue losses from expiring patents.

5. Dividend and income story: 6–7% yield, 16‑year growth streak

Income investors continue to be a major part of the Pfizer shareholder base.

In October, Pfizer’s board declared a fourth‑quarter 2025 dividend of $0.43 per share, payable December 1 to shareholders of record on November 7. This marks the 348th consecutive quarterly dividend. ^[24]
That payout equates to $1.72 annually, implying a forward yield of about 6.7% at the current share price — among the higher yields in large‑cap pharma. ^[25]
Dividend trackers note that Pfizer has increased its dividend for roughly 14–16 consecutive years, and rate its dividend safety and yield attractiveness as “A+” or equivalent. ^[26]

The flip side: payout ratios look high on trailing earnings, and Pfizer is simultaneously funding acquisitions and heavy R&D — so some analysts warn that maintaining high cash returns and pipeline investment will require solid execution on cost savings and new launches. ^[27]

How Wall Street currently rates Pfizer stock

Different data providers show slightly different samples of analysts, but they broadly agree on three points:

Moderate upside over 12 months from today’s price
Consensus between “Hold” and “Buy”
A wide spread between cautious and bullish price targets

Consensus price targets

Recent aggregated forecasts show:

Average 12‑month target around $28.5–$29
- MarketBeat: average $28.39 (19 analysts; range $23–$35), implying about 10% upside from ~$25.8. ^[28]
- StockAnalysis: average $28.56, also about 11% upside, with a consensus rating of “Buy.” ^[29]
- Investing.com: fair‑value‑style price target near $29.04, implying roughly 13% upside. ^[30]
More bullish takes: Anachart, which tracks 9 covering analysts, shows a higher average target around $33.41, about 30% above the recent close. ^[31]

On the other hand:

Public.com’s snapshot of 8 analysts shows a Hold consensus and a 2025 price prediction around $28.6, again implying mid‑teens upside. ^[32]

Net‑net: Wall Street is not euphoric, but the center of gravity is mildly bullish — most forecasts cluster 10–25% abovethe current price.

Recent rating moves

Some recent, notable calls:

Guggenheim raised its Pfizer price target from $33 to $35 on November 24 and kept a “Strong Buy” stance, citing Metsera and improving fundamentals. ^[33]
Morgan Stanley and BofA Securities remain more cautious with “Hold” ratings and targets in the low‑30s. ^[34]
An investing.com column featured Pfizer as one of the more deeply discounted blue‑chip dividend stocks, though not without risks from its patent cliff and heavy reinvestment needs. ^[35]

What the latest forecasts and analyses say (as of November 30, 2025)

There’s a lively debate over whether Pfizer is a value trap or a classic turnaround value play. Recent in‑depth pieces highlight both sides.

Bullish case: “crisis valuation” and a turnaround in motion

Several recent analyses argue that Pfizer trades at “crisis” or “recession” valuations despite stabilizing fundamentals:

A Seeking Alpha article describes Pfizer as a bargain supported by an above‑market dividend yield and stronger‑than‑appreciated cash generation, even as it digests recent acquisitions and navigates post‑COVID headwinds. ^[36]
A TradingNEWS deep‑dive published November 30, 2025 calls Pfizer a “strong buy,” highlighting:
- The stock sitting around $25.74 with a 6.7% dividend yield
- Q3 2025 adjusted EPS of $0.87 and reaffirmed revenue guidance of $61–$64B with EPS of $3.00–$3.15 ^[37]
- A cost‑savings program expected to deliver $7.2B by 2027 and operating margins recovering above 20%
- Structural upside from oncology, biosimilars and the Metsera obesity portfolio
- A technical base forming in the mid‑$20s, with traders watching $24 as support and $30+ as resistance. ^[38]

Other outlets like 24/7 Wall St. and Fool.com emphasize that Pfizer hasn’t been this cheap on several valuation metrics in over a decade, arguing the combination of high yield + depressed multiples + durable franchises could reward patient, long‑term investors. ^[39]

More cautious or mixed views

Not everyone is pounding the table:

Some analysts frame Pfizer as a “show me” story, noting that the patent cliff between 2026 and 2028 (including Eliquis, Ibrance and Xtandi) puts $17–$18B in annual revenue at risk, and replacement products remain in earlier stages. ^[40]
Others highlight that the uplift in 2025 earnings guidance is driven more by cost cuts and tax than by strong organic growth, which may limit how much the market is willing to re‑rate the stock until new products deliver. ^[41]
Some trading‑oriented research — including pieces asking whether Pfizer is a “buy or sell this week” — point out that the stock’s big yield and low beta make it attractive as a defensive income name, but they remain neutral on near‑term price moves while negotiations around TrumpRx and drug pricing evolve. ^[42]

Ownership, balance sheet and risk profile

Who owns Pfizer?

Institutional investors play an outsized role in PFE:

Around two‑thirds of Pfizer’s shares — roughly 66–67% — are held by institutions such as mutual funds and pension plans. ^[43]
StockTitan’s data also show short interest at about 1.8% of float, relatively low for a large‑cap. ^[44]

A recent Yahoo Finance piece notes that such high institutional ownership can make the stock more sensitive to large fund flows: when big holders shift their allocations, the share price can move sharply even if fundamentals change slowly. ^[45]

On November 30 specifically, regulatory filings tracked by MarketBeat showed:

Some institutions adding to positions (for example, Railway Pension Investments),
Others trimming stakes (e.g., Level Four Advisory Services), all against the backdrop of PFE trading near the middle of its 52‑week range. ^[46]

Balance sheet and profitability

Recent statistics paint a picture of a financially solid but leveraged large pharma:

Debt / equity: around 0.67
Current ratio: roughly 1.3
Free cash flow (last 12 months): about $10.4B, or $1.82 per share
Free cash flow yield: roughly 7.1% at current prices
Gross margin: ~75%; net margin: ~15–16% ^[47]

Those numbers support the view that Pfizer can likely fund:

Its dividend
Ongoing R&D and capex
Integration of Seagen and Metsera

…but leave limited room for error if major pipeline bets disappoint or if TrumpRx‑linked pricing pressure extends beyond Medicaid and direct‑to‑consumer channels.

Key risks for Pfizer stock

Even bulls concede that PFE carries real risks:

Patent cliff (2026–2028)
- Big revenue contributors like Eliquis, Ibrance and Xtandi face loss of exclusivity over the next few years, with external estimates of $17–18B in annual sales at risk by 2028. ^[48]
Drug‑pricing reform and TrumpRx
- The Trump–Pfizer deal eased the worst fears but also locked in real price cuts for Medicaid and could embolden further pressure on U.S. drug prices, including via TrumpRx.gov. ^[49]
Execution risk on Metsera and Seagen
- Integrating large, R&D‑heavy acquisitions always carries risk: trial setbacks, regulatory delays or safety issues could derail the obesity or oncology theses and leave Pfizer with extra debt but fewer growth drivers. ^[50]
Dividend strain if growth disappoints
- With a 6–7% dividend yield and an annual payout of $1.72, a prolonged earnings slump or further large deals could force tough choices between maintaining the payout and funding the pipeline. ^[51]
Macroeconomic and political volatility
- Healthcare stocks remain sensitive to U.S. election cycles, trade policies and global regulation. The current tariff‑for‑discounts framework could change under future administrations.

Pfizer stock forecast: What 2026 and beyond could look like

No one can predict Pfizer’s exact share price in 2026, but current data allow us to sketch a few scenario‑style views (not advice, just frameworks):

Base case: slow growth, high yield, modest re‑rating

Assumptions:

Revenue stays roughly flat in the low‑$60B range as COVID declines are offset by oncology, vaccines and early contributions from newer launches. ^[52]
Adjusted EPS tracks management’s guidance near $3.00–$3.15 in 2025 and grows low‑single‑digits into 2026 as cost savings take hold. ^[53]
The market maintains a forward P/E ~9–10x on that earnings base.

In that world, a “fair value” band would sit roughly in the high‑$20s to around $30, broadly consistent with current analyst targets.

Bull case: obesity & oncology surprise to the upside

Assumptions:

Metsera’s GLP‑1 and amylin programs hit key milestones on time with competitive weight‑loss and safety data. ^[54]
PADCEV/Keytruda and other oncology drugs scale faster than expected; Pfizer delivers on its ambition to have multiple oncology blockbusters by 2030. ^[55]
The patent cliff hits, but replacement products plus obesity and biosimilars more than backfill lost revenue by late decade.

In such a scenario, investors might award Pfizer a higher multiple (11–13x forward earnings) and look ahead to a smoother 2028–2030 earnings trajectory. That could justify share prices in the low‑ to mid‑$30s, similar to the higher end of current bullish targets around $32–$35. ^[56]

Bear case: pipeline setbacks and deeper price pressure

Assumptions:

One or more major trials in obesity or oncology disappoint.
TrumpRx and related reforms spread beyond Medicaid, compressing U.S. pricing more broadly. ^[57]
Cost savings are harder to realize than planned, or must be reinvested heavily just to keep revenues flat.

In that world, earnings could land below current expectations and the market might keep Pfizer on a depressed 7–8x multiple, implying a share price more anchored in the low‑$20s.

Bottom line: What today’s numbers say about Pfizer stock

As of November 30, 2025, Pfizer stock offers:

A 6–7% dividend yield and a long streak of rising payouts
A low‑teens P/E, high free‑cash‑flow margin and a relatively defensive beta
Clear near‑term growth visibility from oncology and specialty drugs
A major long‑term call option on obesity via the Metsera acquisition
Counterbalancing risks from its patent cliff and evolving U.S. drug‑pricing regime

Most professional forecasts see modest upside over the next year, with bigger upside or downside hinging on how well Pfizer executes its turnaround strategy.

This overview is informational only and not investment advice. Whether PFE is appropriate for you depends on your goals, risk tolerance and overall portfolio. If you’re considering investing, it’s wise to review Pfizer’s latest SEC filings and talk to a qualified financial adviser.

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