Leerink Partners Issues Positive Forecast for Bristol Myers Squibb (NYSE:BMY) Stock Price

Bristol Myers Squibb (NYSE:BMY) had its price target upped by equities research analysts at Leerink Partners from $54.00 to $60.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Leerink Partners’ price target points to a potential upside of 6.36% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. The Goldman Sachs Group restated a “neutral” rating and set a $57.00 target price (up previously from $51.00) on shares of Bristol Myers Squibb in a report on Tuesday, December 2nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $37.00 price objective (up previously from $36.00) on shares of Bristol Myers Squibb in a research note on Friday, December 12th. Guggenheim reiterated a “buy” rating on shares of Bristol Myers Squibb in a report on Tuesday, December 23rd. Truist Financial set a $65.00 target price on shares of Bristol Myers Squibb in a research report on Wednesday, December 3rd. Finally, Wall Street Zen raised Bristol Myers Squibb from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. Seven equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.86.

Bristol Myers Squibb Price Performance

NYSE:BMY traded up $0.64 during trading hours on Tuesday, hitting $56.41. The stock had a trading volume of 1,817,860 shares, compared to its average volume of 11,719,916. Bristol Myers Squibb has a one year low of $42.52 and a one year high of $63.33. The company has a 50 day simple moving average of $51.12 and a two-hundred day simple moving average of $47.87. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.27 and a quick ratio of 1.17. The firm has a market capitalization of $114.84 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 9.25 and a beta of 0.29.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.75 billion. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.80 EPS. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. Research analysts forecast that Bristol Myers Squibb will post 6.74 earnings per share for the current fiscal year.

Institutional Trading of Bristol Myers Squibb

Institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in Bristol Myers Squibb in the second quarter valued at $1,554,154,000. Charles Schwab Investment Management Inc. grew its position in Bristol Myers Squibb by 16.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 70,802,680 shares of the biopharmaceutical company’s stock worth $3,277,456,000 after buying an additional 10,195,775 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Bristol Myers Squibb by 428.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 11,311,281 shares of the biopharmaceutical company’s stock worth $523,599,000 after purchasing an additional 9,171,098 shares in the last quarter. Man Group plc grew its holdings in Bristol Myers Squibb by 280.4% during the 2nd quarter. Man Group plc now owns 7,465,845 shares of the biopharmaceutical company’s stock valued at $345,594,000 after buying an additional 5,503,391 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Bristol Myers Squibb by 142.8% during the second quarter. Franklin Resources Inc. now owns 8,436,811 shares of the biopharmaceutical company’s stock worth $390,541,000 after buying an additional 4,961,869 shares in the last quarter. 76.41% of the stock is owned by hedge funds and other institutional investors.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company’s core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS’s marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.