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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" class="deco-link" rel="noopener noreferrer nofollow">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Pfizer Inc. (PFE) shares declined on Tuesday, December 16, 2025, following the company’s release of its <a href="https://www.pfizer.com/news/press-release/press-release-detail/pfizer-reaffirms-full-year-2025-eps-guidance-and-provides" class="deco-link" rel="noopener noreferrer nofollow">2026 financial guidance</a>, which fell short of Wall Street expectations. The pharmaceutical giant projected 2026 adjusted earnings per share of $2.80 to $3.00, below the analyst consensus of $3.05, as declining demand for its COVID-19 vaccine and antiviral drug continues to impact revenue.</p>
<p>The company also revised its 2025 revenue outlook to $62 billion, narrowing from its previous forecast of $61 billion to $64 billion, while reaffirming its 2025 adjusted earnings guidance of $3.00 to $3.15 per share. As of 10:22 AM EST, Pfizer stock was trading at $25.38, down $1.05 or 3.97% from the previous close of $26.43.</p>
<h3 id="pfizer-sees-1-5b-covid-19-revenue-drop-in-2026-forecast">Pfizer Sees $1.5B COVID-19 Revenue Drop in 2026 Forecast</h3>
<p>Pfizer’s 2026 outlook revealed significant headwinds ahead for the pharmaceutical company. The projected revenue range of $59.5 billion to $62.5 billion came in below the Street’s forecast of $61.6 billion, while adjusted earnings guidance of $2.80 to $3.00 per share missed the consensus estimate of $3.05.</p>
<p>The company attributed much of this weakness to an expected $1.5 billion decline in COVID-19 product revenues compared to 2025 levels, as demand for its vaccine and Paxlovid antiviral treatment continues to wane following the pandemic’s peak.</p>
<p>Additionally, Pfizer anticipates a year-over-year negative revenue impact of $1.5 billion due to loss of exclusivity on certain products, with approximately $1.6 billion in total LOE-related revenue headwinds in 2026.</p>
<p>Despite these challenges, the company projects its operational revenue, excluding COVID-19 and LOE products, to grow approximately 4% year-over-year in 2026.</p>
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<h3 id="shares-fall-nearly-4-following-2026-guidance-update">Shares Fall Nearly 4% Following 2026 Guidance Update</h3>
<p>As of mid-morning trading on December 16, 2025, Pfizer stock was down 3.97% at $25.38, with a day’s range of $25.53 to $26.50. The stock has struggled in recent years, showing a three-year return of -40.58% compared to the <a href="https://tokenist.com/investing/spx-vs-spy/" class="deco-link" rel="noopener noreferrer nofollow">S&amp;P 500’s</a> gain of 76.76%, though it has posted modest gains of 9.04% over the past year and 3.78% year-to-date. The company’s market capitalization stood at approximately $145.98 billion, with a trailing <a href="https://tokenist.com/investing/p-e-ratio/" class="deco-link" rel="noopener noreferrer nofollow">P/E ratio</a> of 14.93 and a forward P/E of 8.73.</p>
<p>Analyst sentiment remains mixed, with Goldman Sachs maintaining a neutral rating and lowering its price target from $29 to $28. The average analyst price target sits at $28.87, suggesting potential upside from current levels, though recommendations are split with 26 buy ratings, 7 hold ratings, and 15 underperform or sell ratings as of early December 2025.</p><iframe src="https://tokenist.substack.com/embed"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em> <em>All stock prices were quoted at the time of writing.</em></p>
<p>The post <a href="https://tokenist.com/pfizer-shares-fall-as-2026-outlook-reflects-weaker-covid-19-drug-demand/" rel="noopener noreferrer nofollow">Pfizer Shares Fall as 2026 Outlook Reflects Weaker COVID-19 Drug Demand</a> appeared first on <a href="https://tokenist.com" rel="noopener noreferrer nofollow">Tokenist</a>.</p>

Pfizer Shares Fall as 2026 Outlook Reflects Weaker COVID-19 Drug Demand

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