Pfizer Reports Q3 Earnings Beat, Faces Obesity Drug Acquisition Battle

Pfizer reported Q3 2025 adjusted earnings of $0.87 per share, surpassing analyst estimates and generating revenue of approximately $16.65 billion, slightly above forecasts despite a year-over-year decline of about 6%. The company raised its full-year adjusted EPS guidance to a midpoint of $3.08 and reaffirmed revenue guidance around $62.5 billion, highlighting ongoing cost-cutting efforts and strong sales of core drugs such as Eliquis and Vyndaqel that offset declines in COVID-19 related products. Pfizer is engaged in a legal battle with Novo Nordisk over the obesity drug developer Metsera, reflecting the company's strategic pivot into the growing obesity treatment market. Despite these positive developments, Pfizer’s stock has faced challenges with a nearly 10% drop over the past month and a year-to-date loss of over 7%, amid changing FDA COVID vaccine recommendations and broader market pressures. Analysts from TD Cowen and J.P. Morgan maintain hold ratings with target prices of $30, reflecting cautious sentiment about the stock's near-term prospects.