Pfizer (PFE) stock is up today after the pharmaceutical company reported earnings for the fourth quarter of 2024. The company’s adjusted EPS of 63 cents beat Wall Street’s estimate of 47 cents, lifting PFE stock. This represents a 530% increase year-over-year from 10 cents. Revenue is another positive for Pfizer at $17.76 billion, which is well above analysts’ estimate of $17.35 billion. It also represents year-over-year growth of 22% compared to $14.57 billion.
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Pfizer’s results for the full year of 2024 include adjusted EPS of $3.11 and revenue of $63.6 billion. These also surpassed Wall Street’s estimates of $2.93 per share and revenue of $63.08 billion for the year. The company’s EPS jumped 69% year-over-year while revenue increased 7%. PFE notes that its revenue was up 12% when excluding Paxlovid and Comirnaty contributions.
The positive earnings report lifted PFE stock 2.06% higher during pre-market trading. That’s good news for Pfizer investors as the company’s shares were only up 0.38% year-to-date. It also builds on a 4.08% increase over the past 52 weeks.
What’s Next for PFE Stock?
Pfizer also provided guidance for 2025 in its Q4 earnings report. The company expects adjusted EPS to range from $2.80 to $3, with revenue coming in between $61 billion to $64 billion. For comparison, analysts estimate adjusted EPS of $2.93 and revenue of $63 billion in 2025.
Pfizer Executive Vice President and Chief Financial Officer David Denton said the company “increased our overall savings target to approximately $4.5 billion by the end of this year.” He also noted Pfizer remains “on track to deliver $1.5 billion of net cost savings from the first phase of our Manufacturing Optimization Program by the end of 2027.” Initial savings from this effort will manifest in the latter part of 2025.
Is PFE Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Pfizer is Moderate Buy based on seven Buy, 10 Hold, and one Sell ratings over the last three years. With that comes an average price target of $30.40, a high of $36, and a low of $25. This represents a potential 16.03% upside for PFE stock. These ratings and price targets will likely change as analysts update their coverage after today’s earnings report.
