New York, Feb 11, 2026, 08:37 EST — Premarket
Pfizer (PFE.N) slipped 0.3% to $27.52 ahead of the bell Wednesday, following a 2.1% gain Tuesday that took shares to $27.61. The stock hit $27.73 during the session, with trading volume reaching roughly 43.6 million shares. 1
Shares slipped early as traders continued to test the strength of Pfizer’s latest bid. The drugmaker is turning to smaller, earlier-stage bets, aiming to jumpstart growth after the pandemic boom. Swiss biotech incubator BaseLaunch announced Pfizer had come aboard as a partner. “Adding new partnerships will significantly benefit our early-stage biotech ventures,” BaseLaunch director Stephan Emmerth said. The incubator said it’s backed 27 biotech startups, with portfolio companies raising more than $1 billion. BaseLaunch already lists AbbVie, Roche, Takeda, Novo Nordisk, Johnson & Johnson and CSL as partners. 2
Macro looms large. U.S. markets are on hold for the January jobs data due Wednesday, with fresh worries over consumer demand sparked by weak retail sales. Treasury yields dipped in response, according to Reuters’ “Morning Bid.” 3
Pfizer popped up on the legal wire late Tuesday, agreeing to take $29 million to resolve its fight with the U.S. Securities and Exchange Commission over a 2013 insider-trading case tied to Steven A. Cohen’s old hedge fund, SAC Capital. The proposed settlement—which still needs a judge’s sign-off—would wrap up Pfizer’s appeal. According to Pfizer, the deal advances the public interest by upholding securities laws and channeling money back to victims. 4
Vaccine stocks are moving again: Moderna sank close to 9% in premarket trading after the FDA refused to review its experimental flu shot. The regulator pointed to the absence of an “adequate and well-controlled” trial with an appropriate comparator, leaving the industry to wonder how high the bar might be for future filings. 5
Traders can’t quite shake the COVID-19 vaccine association when it comes to Pfizer and BioNTech, despite the market now looking past that chapter—impatient for whatever’s next. A chunk of investors see the shares as a defensive bet with steady cash returns, while another camp seems to be holding out for more concrete signs the pipeline can actually deliver.
Pfizer stuck to its 2026 outlook last week, still seeing revenue in the $59.5 billion to $62.5 billion range and projecting adjusted earnings at $2.80 to $3.00 a share. The company also flagged the anticipated effects from its drug pricing pacts with the Trump administration, underscoring that regulatory risks in Washington remain a fixture for the sector. 6
The upside argument isn’t exactly airtight. Should the next batch of clinical results fail to impress, or if regulators crank up requirements for trial design, this stock could slip right back into sluggish territory in a hurry.
The next big swing factor isn’t until Friday: January’s U.S. consumer price index—set to drop Feb. 13 at 8:30 a.m. ET. That number has the potential to shake up yields and send investors shuffling cash in or out of defensive healthcare stocks. 7
