Pfizer Inc. (NYSE:PFE) is scheduled to provide its full-year 2026 financial guidance on Tuesday, with Bank of America Securities expecting the company's growth profile to closely resemble conditions seen in 2025.
According to BofA, Pfizer's outlook is likely to remain flattish, supported primarily by disciplined expense management rather than top-line acceleration.
Analyst Jason Gerberry reiterated a Neutral rating on the stock and trimmed his price forecast to $28 from $29, reflecting a valuation based on 9.5 times estimated fiscal 2027 earnings, compared with a prior 9 times fiscal 2026 estimate.
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Loss Of Exclusivity Continues To Weigh On Valuation
Looking ahead to 2026, BofA said it sees limited catalysts for a meaningful re-rating as Pfizer continues to navigate a multi-year loss of exclusivity cycle that is expected to run through 2029.
While these pressures remain a headwind, the firm noted that Pfizer's valuation is already near the lower end of the sector, which is partially offset by an attractive dividend yield.
Gerberry characterized 2026 as a relatively pipeline-light year in terms of data that could materially shift investor sentiment.
Key areas of focus include MET-097 in obesity, where Pfizer faces intense competition, progress in antibody-drug conjugates, and the development of Prevnar-25.
However, the analyst emphasized that advancement of Pfizer's broader 30-plus-valent pneumococcal franchise may be more strategically important given the evolving competitive landscape.
Adaptive Biotechnologies Expands Collaboration With Pfizer
Separately, Adaptive Biotechnologies Corporation (NASDAQ:ADPT) announced two non-exclusive agreements with Pfizer, highlighting continued investment in immune-driven therapeutics.
Adaptive has identified autoreactive, or "offender," T-cell receptors that may contribute to disease in autoimmune conditions.
Under one agreement focused on rheumatoid arthritis, Pfizer will use Adaptive's immune medicine platform to identify disease-causing TCRs as potential therapeutic targets.
Adaptive will lead target discovery, while Pfizer will oversee all development and commercialization activities.
Under this arrangement, Adaptive will receive an upfront payment and could be eligible for additional data delivery, development, commercial, and sales milestone payments totaling up to approximately $890 million.
In a separate TCR-antigen data licensing agreement, Adaptive will also receive an upfront payment along with potential future payments tied to ongoing collaboration.
PFE Price Action: Pfizer shares were up 1.76% at $26.30 at the time of publication on Monday, according to Benzinga Pro data.
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