What Are Wall Street Analysts' Target Price for Bristol-Myers Squibb Stock?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 31 2025
0mins
Source: NASDAQ.COM
Company Overview: Bristol-Myers Squibb is a leading biopharmaceutical company with a market cap of $119.8 billion, focusing on treatments for various diseases and showing a 19.7% gain over the past year, slightly lagging behind the S&P 500's 23.3% surge.
Stock Performance and Analyst Ratings: Following strong Q3 results, BMY's stock rose 5.9%, with analysts maintaining a consensus rating of "Moderate Buy" and projecting potential price increases, despite anticipated declines in earnings for fiscal 2024.
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Analyst Views on BMY
Wall Street analysts forecast BMY stock price to rise
20 Analyst Rating
8 Buy
11 Hold
1 Sell
Moderate Buy
Current: 54.950
Low
37.00
Averages
55.86
High
68.00
Current: 54.950
Low
37.00
Averages
55.86
High
68.00
About BMY
Bristol-Myers Squibb Company is a global biopharmaceutical company. It is engaged in the discovery, development, and delivery of transformational medicines for patients facing serious diseases in areas: oncology, hematology, immunology, cardiovascular, neuroscience and other areas. Its growth portfolio includes Opdivo (nivolumab), Opdivo Qvantig (nivolumab and hyaluronidase-nvhy), Orencia (abatacept), Yervoy (ipilimumab), Reblozyl (luspatercept-aamt), Breyanzi (lisocabtagene maraleucel), Opdualag (nivolumab and relatlimab-rmbw), Camzyos (mavacamten), Zeposia (ozanimod), Abecma (idecabtagene vicleucel), Sotyktu (deucravacitinib), Krazati (adagrasib), and Cobenfy (xanomeline and trospium chloride). Its other growth products include Augtyro, Onureg, Inrebic, Nulojix, and Empliciti. Its legacy portfolio includes Eliquis (apixaban), Revlimid (lenalidomide), Pomalyst/Imnovid (pomalidomide), Sprycel (dasatinib), and Abraxane (paclitaxel albumin-bound particles for injectable suspension).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bristol Myers Squibb Stock Appears Undervalued
- Valuation Appeal: Bristol Myers Squibb's price-to-earnings ratio stands at approximately 16x, significantly lower than the S&P 500's 27x and the pharmaceutical industry's 24x, indicating its stock may attract value investors in the current market environment.
- Dividend Yield Advantage: The company boasts a dividend yield of 4.4%, well above the S&P 500's 1.1% and the average pharmaceutical yield of 1.7%, making it particularly appealing to income-seeking investors, despite a relatively high payout ratio of 70%.
- Patent Expiration Risks: Bristol Myers Squibb faces patent expiration risks that could pressure its future performance, particularly with the patents for cancer drugs Revlimid and Pomalyst expiring in 2026, and cardiovascular drug Eliquis facing competition in 2028, potentially impacting revenue and profits in the near term.
- Long-Term Investment Potential: Despite short-term uncertainties, Bristol Myers Squibb's proven survival in the pharmaceutical industry and attractive valuation metrics still make it appealing for long-term investors, especially those willing to hold for decades.
See More
Citigroup Options Volume Surges Significantly
- Options Trading Volume: Citigroup (C) has seen an options trading volume of 51,324 contracts today, equating to approximately 5.1 million shares, which represents 46.2% of its average daily trading volume of 11.1 million shares over the past month, indicating a significant increase in market interest.
- High-Frequency Contracts: Among these, the $130 strike call option expiring on June 5, 2026, has been particularly active, with 10,348 contracts traded today, representing about 1.0 million underlying shares, suggesting heightened investor expectations for future price increases.
- Bristol Myers Options: Concurrently, Bristol Myers Squibb (BMY) has recorded an options trading volume of 48,911 contracts today, approximately 4.9 million shares, which is 45.1% of its average daily trading volume of 10.8 million shares over the past month, reflecting strong market activity.
- Key Contract Analysis: For BMY, the $62.50 strike call option expiring on July 17, 2026, has seen a trading volume of 32,979 contracts, equating to around 3.3 million shares, indicating a strong bullish sentiment among investors regarding this stock.
See More
Bristol Myers Squibb Stock Appears Attractive
- Valuation Appeal: Bristol Myers Squibb's price-to-earnings ratio stands at approximately 16x, significantly lower than the S&P 500's 27x and the pharmaceutical industry's 24x average, indicating potential value for investors.
- Dividend Yield Advantage: The company's dividend yield of 4.4% is notably higher than the S&P 500's 1.1% and the average drug maker's 1.7%, making it attractive for income-seeking investors.
- Patent Expiration Risks: However, Bristol Myers Squibb faces significant risks from upcoming patent expirations, particularly with key cancer drugs Revlimid and Pomalyst in 2026, and cardiovascular drug Eliquis facing competition in 2028, which could pressure future revenues.
- Long-Term Investment Commitment: Despite short-term uncertainties, Bristol Myers Squibb's proven ability to survive in the pharmaceutical industry and its long-term commitment make it appealing for investors looking to hold for decades, especially given its current valuation metrics.
See More
FDA Grants Priority Review for BMS's Camzyos in Adolescents
- New Drug Application Approved: The US FDA has accepted Bristol Myers Squibb's sNDA for Camzyos (mavacamten) targeting symptomatic obstructive hypertrophic cardiomyopathy in adolescents and granted Priority Review, which, if approved, would make it the first cardiac myosin inhibitor for this condition, addressing a significant market need.
- Clinical Trial Support: The application is backed by data from the phase 3 SCOUT-HCM trial, which demonstrated a statistically significant reduction in the Valsalva left ventricular outflow tract (LVOT) gradient at week 28 in the Camzyos group compared to placebo, confirming its efficacy.
- Significant Market Potential: Hypertrophic cardiomyopathy leads to reduced exertional tolerance and higher morbidity in adolescents, and the approval of Camzyos would provide a new treatment option for this demographic, potentially improving their quality of life significantly.
- Strategic Implications: Bristol Myers Squibb's innovative drug development in the cardiology space highlights its leadership in the biopharmaceutical industry and could usher in a new growth cycle for the company, further solidifying its market position.
See More
Ivonescimab Data Enhances Market Prospects Against Keytruda
- Survival Extension: The Phase 3 Harmoni-6 study presented at ASCO demonstrated that Ivonescimab combined with chemotherapy extended median overall survival from 23.7 months to 27.9 months, with nearly 65% of patients alive after two years, significantly enhancing its market competitiveness.
- Intensifying Industry Competition: The success of Ivonescimab has heightened pressure on major pharmaceutical players like Pfizer (PFE), Bristol Myers Squibb (BMY), and Merck (MRK), all of whom are advancing rival therapies, particularly in light of the impending patent cliff.
- FDA Review Progress: Summit Therapeutics has submitted an FDA application for Ivonescimab plus chemotherapy in EGFR-mutated lung cancer, with a regulatory decision expected by November 14, positioning the company advantageously in the competitive landscape.
- Investor Sentiment Rebound: Retail investor sentiment for SMMT surged to an all-time high of 97/100 on Stocktwits, with message volume increasing by over 9,200%, reflecting strong market confidence in the future potential of Ivonescimab.
See More
First PD-(L)1xVEGF Bispecific Immunomodulator Shows Promising Efficacy in NSCLC
- Clinical Trial Results: The global ROSETTA Lung-02 trial demonstrated that Pumitamig combined with chemotherapy achieved objective response rates of 57.1% in non-squamous and 68.4% in squamous non-small cell lung cancer patients, indicating robust anti-tumor activity across various PD-L1 expression levels.
- Dose Optimization Effects: At the lower dose, Pumitamig showed objective response rates of 63.6% for non-squamous and 72.7% for squamous NSCLC, highlighting a dose-dependent efficacy that may offer better treatment options for patients.
- Safety Analysis: The clinical trial reported a manageable safety profile for Pumitamig, with grade ≥ 3 treatment-related adverse events occurring in 48.8% of patients, of which 23.3% were deemed related to Pumitamig, indicating its controllability in clinical applications.
- Future Development Plans: BioNTech and Bristol Myers Squibb are advancing a broad development plan for Pumitamig, aiming to evaluate its efficacy in various stages of non-small cell lung cancer across multiple clinical trials, with the goal of improving existing treatment standards.
See More
Bristol Myers Squibb Stock Appears Undervalued
- Valuation Appeal: Bristol Myers Squibb's price-to-earnings ratio stands at approximately 16x, significantly lower than the S&P 500's 27x and the pharmaceutical industry's 24x, indicating its stock may attract value investors in the current market environment.
- Dividend Yield Advantage: The company boasts a dividend yield of 4.4%, well above the S&P 500's 1.1% and the average pharmaceutical yield of 1.7%, making it particularly appealing to income-seeking investors, despite a relatively high payout ratio of 70%.
- Patent Expiration Risks: Bristol Myers Squibb faces patent expiration risks that could pressure its future performance, particularly with the patents for cancer drugs Revlimid and Pomalyst expiring in 2026, and cardiovascular drug Eliquis facing competition in 2028, potentially impacting revenue and profits in the near term.
- Long-Term Investment Potential: Despite short-term uncertainties, Bristol Myers Squibb's proven survival in the pharmaceutical industry and attractive valuation metrics still make it appealing for long-term investors, especially those willing to hold for decades.
See More
Citigroup Options Volume Surges Significantly
- Options Trading Volume: Citigroup (C) has seen an options trading volume of 51,324 contracts today, equating to approximately 5.1 million shares, which represents 46.2% of its average daily trading volume of 11.1 million shares over the past month, indicating a significant increase in market interest.
- High-Frequency Contracts: Among these, the $130 strike call option expiring on June 5, 2026, has been particularly active, with 10,348 contracts traded today, representing about 1.0 million underlying shares, suggesting heightened investor expectations for future price increases.
- Bristol Myers Options: Concurrently, Bristol Myers Squibb (BMY) has recorded an options trading volume of 48,911 contracts today, approximately 4.9 million shares, which is 45.1% of its average daily trading volume of 10.8 million shares over the past month, reflecting strong market activity.
- Key Contract Analysis: For BMY, the $62.50 strike call option expiring on July 17, 2026, has seen a trading volume of 32,979 contracts, equating to around 3.3 million shares, indicating a strong bullish sentiment among investors regarding this stock.
See More
Bristol Myers Squibb Stock Appears Attractive
- Valuation Appeal: Bristol Myers Squibb's price-to-earnings ratio stands at approximately 16x, significantly lower than the S&P 500's 27x and the pharmaceutical industry's 24x average, indicating potential value for investors.
- Dividend Yield Advantage: The company's dividend yield of 4.4% is notably higher than the S&P 500's 1.1% and the average drug maker's 1.7%, making it attractive for income-seeking investors.
- Patent Expiration Risks: However, Bristol Myers Squibb faces significant risks from upcoming patent expirations, particularly with key cancer drugs Revlimid and Pomalyst in 2026, and cardiovascular drug Eliquis facing competition in 2028, which could pressure future revenues.
- Long-Term Investment Commitment: Despite short-term uncertainties, Bristol Myers Squibb's proven ability to survive in the pharmaceutical industry and its long-term commitment make it appealing for investors looking to hold for decades, especially given its current valuation metrics.
See More
FDA Grants Priority Review for BMS's Camzyos in Adolescents
- New Drug Application Approved: The US FDA has accepted Bristol Myers Squibb's sNDA for Camzyos (mavacamten) targeting symptomatic obstructive hypertrophic cardiomyopathy in adolescents and granted Priority Review, which, if approved, would make it the first cardiac myosin inhibitor for this condition, addressing a significant market need.
- Clinical Trial Support: The application is backed by data from the phase 3 SCOUT-HCM trial, which demonstrated a statistically significant reduction in the Valsalva left ventricular outflow tract (LVOT) gradient at week 28 in the Camzyos group compared to placebo, confirming its efficacy.
- Significant Market Potential: Hypertrophic cardiomyopathy leads to reduced exertional tolerance and higher morbidity in adolescents, and the approval of Camzyos would provide a new treatment option for this demographic, potentially improving their quality of life significantly.
- Strategic Implications: Bristol Myers Squibb's innovative drug development in the cardiology space highlights its leadership in the biopharmaceutical industry and could usher in a new growth cycle for the company, further solidifying its market position.
See More
Ivonescimab Data Enhances Market Prospects Against Keytruda
- Survival Extension: The Phase 3 Harmoni-6 study presented at ASCO demonstrated that Ivonescimab combined with chemotherapy extended median overall survival from 23.7 months to 27.9 months, with nearly 65% of patients alive after two years, significantly enhancing its market competitiveness.
- Intensifying Industry Competition: The success of Ivonescimab has heightened pressure on major pharmaceutical players like Pfizer (PFE), Bristol Myers Squibb (BMY), and Merck (MRK), all of whom are advancing rival therapies, particularly in light of the impending patent cliff.
- FDA Review Progress: Summit Therapeutics has submitted an FDA application for Ivonescimab plus chemotherapy in EGFR-mutated lung cancer, with a regulatory decision expected by November 14, positioning the company advantageously in the competitive landscape.
- Investor Sentiment Rebound: Retail investor sentiment for SMMT surged to an all-time high of 97/100 on Stocktwits, with message volume increasing by over 9,200%, reflecting strong market confidence in the future potential of Ivonescimab.
See More
First PD-(L)1xVEGF Bispecific Immunomodulator Shows Promising Efficacy in NSCLC
- Clinical Trial Results: The global ROSETTA Lung-02 trial demonstrated that Pumitamig combined with chemotherapy achieved objective response rates of 57.1% in non-squamous and 68.4% in squamous non-small cell lung cancer patients, indicating robust anti-tumor activity across various PD-L1 expression levels.
- Dose Optimization Effects: At the lower dose, Pumitamig showed objective response rates of 63.6% for non-squamous and 72.7% for squamous NSCLC, highlighting a dose-dependent efficacy that may offer better treatment options for patients.
- Safety Analysis: The clinical trial reported a manageable safety profile for Pumitamig, with grade ≥ 3 treatment-related adverse events occurring in 48.8% of patients, of which 23.3% were deemed related to Pumitamig, indicating its controllability in clinical applications.
- Future Development Plans: BioNTech and Bristol Myers Squibb are advancing a broad development plan for Pumitamig, aiming to evaluate its efficacy in various stages of non-small cell lung cancer across multiple clinical trials, with the goal of improving existing treatment standards.
See More
