February 2, 2026
Finance

Pfizer Anticipates Decline in Q4 Earnings, Analysts Adjust Price Targets Ahead of Earnings Release

Leading Analysts Maintain Neutral Stance on Pfizer Amid Expectations of Lower Revenue and Earnings Per Share for Fourth Quarter

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Summary

Pfizer Inc. is scheduled to report its fourth-quarter earnings before market open on February 3, with forecasts indicating a reduction in both earnings per share and quarterly revenue compared to the previous year. Analysts from prominent firms have revised their price targets and ratings marginally while retaining a neutral outlook on the stock. Additionally, Pfizer's recent collaboration with Novavax concerning the Matrix-M adjuvant forms part of ongoing strategic developments.

Key Points

Pfizer is expected to report a decline in fourth-quarter earnings per share, forecasted at 57 cents compared to 63 cents in the prior year’s equivalent quarter.
Quarterly revenue projections for Pfizer indicate a decrease to approximately $16.83 billion from $17.76 billion reported a year earlier.
Pfizer entered a licensing agreement with Novavax for the use of the Matrix-M adjuvant, reflecting ongoing strategic collaborations.
Prominent financial analysts have maintained Neutral or Equal-Weight ratings on Pfizer’s stock, with minor adjustments to price targets, indicating cautious market sentiment.

Pursuing its upcoming release of fourth-quarter financial results, Pfizer Inc. (NYSE: PFE), headquartered in New York, will report earnings before the market opens on Tuesday, February 3. Market analysts anticipate a noteworthy decrease in reported earnings for the period ending December 31, 2025, with projected earnings per share (EPS) standing at approximately 57 cents. This figure represents a decline from the 63 cents per share reported during the equivalent quarter of the previous year.

Alongside earnings estimates, revenue expectations also suggest a downward trend. The consensus forecast indicates Pfizer's quarterly revenue may reach about $16.83 billion, which compares to $17.76 billion in the last year's quarter, offering indication of a contraction in overall sales performance for the pharmaceutical giant in this period.

Within the context of broader company activities, Pfizer recently announced a licensing agreement with Novavax, Inc. (NASDAQ: NVAX). Effective January 20, this agreement permits Pfizer to utilize Novavax’s Matrix-M adjuvant technology—an initiative with potential programmatic implications in vaccine development. This development coincides with Pfizer’s stock appreciating by approximately 1.4 percent, closing at $26.44 on the preceding Friday, reflecting market reaction ahead of the earnings disclosure.

Delving into analyst sentiment, Benzinga’s data platform provides detailed insights into recent rating adjustments from several high-accuracy analysts specializing in equities, including those focusing on healthcare and pharmaceutical sectors.

Carter Gould of Cantor Fitzgerald has maintained a Neutral rating on Pfizer stock, but raised his price target from $24 to $27 on January 27, 2026. This analyst’s forecast accuracy stands at 64 percent, indicating moderate historical reliability in predictions. Similarly, Michael Yee from UBS sustained a Neutral rating with an unchanged price target of $25 as of January 7, 2026. Yee’s accuracy is noted at 62 percent, reflective of consistent analytical insight across coverage periods.

In the latter part of 2025, Morgan Stanley’s Terence Flynn held an Equal-Weight rating while revising the price target marginally downward from $28 to $27 on December 17. Flynn’s accuracy rate is relatively prominent at 73 percent. Bank of America Securities analyst Jason Gerberry preserved a Neutral rating with a slightly lowered price target adjustment—from $29 to $28—designated on December 15, 2025. His historical accuracy is calculated at 69 percent. Additionally, Citigroup’s Geoff Meacham retained a Neutral rating with a steady price target of $26 as reported on December 2, 2025, accompanied by an accuracy standing of 72 percent.

These consensus perspectives suggest measured caution amongst brokerage analysts despite Pfizer’s robust industry presence, with consistent price target consolidation in the mid-to-high $20 range. Investor decisions may hinge on these projections as they consider the forthcoming quarterly financial data and the strategic evolution influenced by partnerships such as that with Novavax.

Investors should note that although analyst ratings remain predominantly neutral, the indicated declines in both earnings per share and revenues carry implications for performance expectations in the immediate term. The developments in licensing agreements and potential pipeline advancements warrant close attention for evaluating the company’s long-term prospects.

Overall, Pfizer approaches the upcoming earnings release amid mixed signals: declining earnings forecasts contrast against ongoing innovation and alliance formation, underscoring complex dynamics in pharmaceutical sector performance and valuation consideration.

Risks
  • Lower-than-expected earnings per share could impact investor confidence and share price performance.
  • Decreasing quarterly revenue forecasts highlight potential challenges in sustaining sales growth.
  • Analysts’ price target reductions suggest tempered expectations regarding near-term stock valuation.
  • Dependence on collaborative agreements such as the Novavax Matrix-M adjuvant license adds uncertainty to Pfizer’s product pipeline advancement and future revenue streams.
Disclosure
Education only / not financial advice
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PFE - neutral NVAX - neutral
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