Bristol Myers Squibb (NYSE:BMY) Stock Price Target Cut by Wells Fargo & Company

Bristol Myers Squibb (NYSE:BMY) had its price target decreased by research analysts at Wells Fargo & Company from $65.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 5.81% from the company’s previous close.

BMY has been the topic of a number of other reports. Piper Sandler reissued an “overweight” rating and issued a $82.00 price objective (up from $75.00) on shares of Bristol Myers Squibb in a research note on Wednesday, September 16th. HSBC reaffirmed a “hold” rating and set a $65.00 target price (up from $60.00) on shares of Bristol Myers Squibb in a research report on Thursday, September 10th. JPMorgan Chase & Co. upped their target price on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Rothschild & Co Redburn increased their price target on Bristol Myers Squibb from $51.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, October 8th. Finally, Leerink Partners lowered shares of Bristol Myers Squibb from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $73.00 to $59.00 in a research report on Monday, October 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Bristol Myers Squibb has an average rating of “Hold” and an average target price of $64.88.

Bristol Myers Squibb Stock Down 1.5%

NYSE BMY traded down $0.87 during trading on Tuesday, hitting $56.71. 2,701,381 shares of the company traded hands, compared to its average volume of 12,004,898. Bristol Myers Squibb has a 12 month low of $42.52 and a 12 month high of $68.64. The business has a fifty day simple moving average of $63.99 and a 200 day simple moving average of $60.30. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89. The company has a market capitalization of $115.83 billion, a P/E ratio of 12.45, a PEG ratio of 0.29 and a beta of 0.19.

Bristol Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.44. The company had revenue of $12.97 billion during the quarter, compared to analysts’ expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, sell-side analysts predict that Bristol Myers Squibb will post 6.80 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total transaction of $33,750.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristol Myers Squibb

Several hedge funds have recently modified their holdings of the business. NorthCrest Asset Manangement LLC grew its stake in shares of Bristol Myers Squibb by 2.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 308,321 shares of the biopharmaceutical company’s stock worth $18,771,000 after acquiring an additional 7,905 shares during the last quarter. Avior Wealth Management LLC increased its position in Bristol Myers Squibb by 55.7% during the third quarter. Avior Wealth Management LLC now owns 9,626 shares of the biopharmaceutical company’s stock worth $601,000 after acquiring an additional 3,443 shares during the period. Montz Harcus Wealth Management LLC bought a new position in Bristol Myers Squibb during the third quarter worth $216,000. Castleview Partners LLC raised its stake in Bristol Myers Squibb by 6.4% during the 3rd quarter. Castleview Partners LLC now owns 88,876 shares of the biopharmaceutical company’s stock valued at $5,546,000 after purchasing an additional 5,350 shares during the last quarter. Finally, Mirador Capital Partners LP raised its stake in Bristol Myers Squibb by 3.3% during the 3rd quarter. Mirador Capital Partners LP now owns 50,389 shares of the biopharmaceutical company’s stock valued at $3,144,000 after purchasing an additional 1,594 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb News Summary

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

• Positive Sentiment: BMS reported that the Phase 3 ACTION-1 trial of RYZ101, a RayzeBio radiopharmaceutical, met its primary endpoint by delivering a statistically significant and clinically meaningful improvement in progression-free survival for patients with advanced gastroenteropancreatic neuroendocrine tumors. The result supports BMS’s strategy of expanding its oncology pipeline ahead of a major 2028 patent-expiration risk. ACTION-1 RYZ101 Phase 3 Results
• Positive Sentiment: The Phase 3 ALOFT-IPF study of admilparant met its primary endpoint at the lower 60-mg twice-daily dose in idiopathic pulmonary fibrosis. BMS plans to discuss the data with regulators, potentially advancing a new growth opportunity beyond its established medicines. ALOFT-IPF Phase 3 Results
• Neutral Sentiment: BMS sponsored an article highlighting artificial-intelligence innovation to improve access to lung-cancer care. The initiative supports the company’s healthcare and corporate-profile efforts but is unlikely to materially affect near-term earnings or valuation. AI Innovation in Lung Cancer Care
• Negative Sentiment: Investor reaction to the ALOFT-IPF announcement was cautious because only the lower dose met the primary endpoint while the higher dose did not, raising questions about admilparant’s efficacy, dosing flexibility and commercial potential. This appears to have outweighed the favorable trial headlines. Mixed Admilparant Trial Results
• Negative Sentiment: Analysts expect third-quarter earnings later this month to show a single-digit decline in the bottom line. Investors remain alert to generic competition, patent-cliff exposure and execution risks even though BMS has reported strong recent pipeline progress. BMS Quarterly Earnings Preview

Bristol Myers Squibb Company Profile

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.