Bristol Myers Squibb (NYSE:BMY) Stock Price Target Lowered at Bank of America

Bristol Myers Squibb (NYSE:BMY) had its target price dropped by analysts at Bank of America from $71.00 to $66.00 in a research note issued on Friday. Bank of America‘s price target indicates a potential upside of 11.52% from the company’s previous close.

Several other research analysts also recently commented on BMY. Weiss Ratings raised shares of Bristol Myers Squibb from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Leerink Partners cut Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $73.00 to $59.00 in a report on Monday. TD Cowen assumed coverage on Bristol Myers Squibb in a report on Wednesday, August 5th. They set a “buy” rating on the stock. Morgan Stanley reissued an “underweight” rating and set a $41.00 price target (up from $40.00) on shares of Bristol Myers Squibb in a research note on Wednesday. Finally, Royal Bank Of Canada increased their target price on shares of Bristol Myers Squibb from $60.00 to $64.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bristol Myers Squibb currently has an average rating of “Hold” and a consensus target price of $64.96.

Bristol Myers Squibb Stock Performance

BMY stock traded down $0.40 during midday trading on Friday, hitting $59.18. The company’s stock had a trading volume of 6,207,278 shares, compared to its average volume of 11,985,270. The stock has a market cap of $120.89 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 0.28 and a beta of 0.19. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89. The stock’s 50-day moving average price is $64.27 and its 200 day moving average price is $60.28. Bristol Myers Squibb has a 1 year low of $42.52 and a 1 year high of $68.64.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.44. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company had revenue of $12.97 billion during the quarter, compared to analyst estimates of $11.74 billion. During the same quarter in the prior year, the business earned $1.46 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, equities analysts forecast that Bristol Myers Squibb will post 6.95 EPS for the current year.

Insider Activity at Bristol Myers Squibb

In related news, SVP Phil M. Holzer sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the sale, the senior vice president owned 16,862 shares in the company, valued at $1,138,185. This represents a 2.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

Several hedge funds have recently added to or reduced their stakes in BMY. Davis Asset Management L.P. bought a new position in Bristol Myers Squibb in the 2nd quarter worth about $27,000. Bayban purchased a new position in Bristol Myers Squibb in the fourth quarter worth about $31,000. Addison Advisors LLC purchased a new stake in shares of Bristol Myers Squibb during the second quarter valued at approximately $32,000. Groupe la Francaise increased its position in shares of Bristol Myers Squibb by 562.9% during the second quarter. Groupe la Francaise now owns 590 shares of the biopharmaceutical company’s stock valued at $33,000 after acquiring an additional 501 shares in the last quarter. Finally, Arlington Trust Co LLC purchased a new position in Bristol Myers Squibb in the 2nd quarter worth approximately $35,000. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb News Roundup

Here are the key news stories impacting Bristol Myers Squibb this week:

• Positive Sentiment: Positive Phase 3 Zenbexus data: Bristol Myers reported that Zenbexus (iberdomide), combined with daratumumab and dexamethasone, delivered superior progression-free survival versus standard of care in relapsed or refractory multiple myeloma. The EXCALIBER-RRMM results reportedly reduced the risk of progression or death by 51% and produced high minimal residual disease-negative complete response rates, supporting the potential for accelerated approval and future revenue growth. What Could Bristol Myers Squibb Phase 3 Myeloma Data Mean For Investors?
• Positive Sentiment: Pipeline and commercial support: Coverage highlights Zenbexus as a potential growth driver, while Reblozyl’s expanding sales and additional indications may help offset declines from older products. Investors are also attracted to BMY’s profitability, relatively low valuation and high dividend yield. High-Yield Stocks to Buy in October
• Neutral Sentiment: Analyst opinions are mixed: J.P. Morgan issued a Buy rating, while Scotiabank maintained a Hold rating. The split suggests that Zenbexus’s clinical progress is encouraging, but investors remain cautious about execution, competition and the company’s longer-term growth outlook. J.P. Morgan Buy Rating
• Negative Sentiment: Price-target cuts weigh on sentiment: Morgan Stanley assigned a Sell rating, and Cantor Fitzgerald lowered its price target from $59 to $53 while keeping a Neutral rating. These calls indicate concern that the positive pipeline news may already be reflected in the stock or may not fully offset product concentration and competitive risks. Morgan Stanley Sell Rating

About Bristol Myers Squibb

Bristol Myers Squibb (NYSE:BMY) is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its research and commercial activities focus primarily on oncology, hematology, immunology, cardiovascular disease and neuroscience. The company serves patients and healthcare providers in the United States and international markets.

Bristol Myers Squibb’s portfolio includes medicines such as Opdivo and Yervoy for certain cancers, Eliquis for the prevention of blood clots and stroke, Revlimid and Pomalyst for blood cancers, and Abraxane for certain solid tumors.