BMY Price Prediction Next Week
Technical Analysis: BMY's recent price action shows a downward trend with the stock trading below its key moving averages. RSI at 45.16 indicates neutral momentum, while MACD (-0.66) suggests bearish sentiment. The stock is currently trading near the lower Bollinger Band, indicating potential oversold conditions.
News Sentiment & Insider Activity:
- Recent insider purchases are bullish signals - CEO Christopher Boerner bought 2,000 shares at $55.04
- The company received a high 87% rating from Validea's Multi-Factor Investor model
- Institutional activity shows balanced movement with 1,111 institutions adding positions while 1,125 reducing
Price Prediction for Next Week: Based on Fibonacci levels and technical indicators:
- Support levels: $54.00 (S1), $53.02 (S2)
- Resistance levels: $57.19 (R1), $58.17 (R2)
Expected price movement:
- Base case (60% probability): Range-bound trading between $54.00-$57.19
- Bullish case (25% probability): Break above $57.19 targeting $58.17
- Bearish case (15% probability): Break below $54.00 targeting $53.02
Trading Recommendation: SELL Rationale:
- Bearish MACD crossover
- Trading below all major moving averages
- Low RSI and stochastic readings indicate weak momentum
- Price struggling to maintain support at $55 level
Target entry: Current market price ($55.84) Stop loss: $57.20 (above R1) First target: $54.00 (S1) Second target: $53.02 (S2)
BMY Similar Chart Price Prediction
The price of BMY is predicted to go up -2.62%, based on the high correlation periods with GNTY. The similarity of these two price pattern on the periods is 95.14%.
BMY
GNTY
Down: -2.62%Similarity: 95.14%
BMY Revenue Forecast
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BMY VS S&P500
Bristol is launching several new cancer and immunology drugs that can have high sales trajectories, given the high unmet medical need.
Oncology drug Opdivo holds the potential to radically shift the treatment paradigm in several cancer indications, which should result in annual peak sales of more than $10 billion.
The majority of Bristol's late-stage pipeline focuses on rare diseases, immunology, and cancer, where the Food and Drug Administration aggressively approves drugs and typically holds strong pricing power.
BMY Analyst's Forecast
Robyn Karnauskas
Truist Securities
Strong Buy
2025-01-08
Price Target
$62 → $65
Upside
+14.33%
Truist raised the firm's price target on Bristol Myers to $65 from $62 and keeps a Buy rating on the shares as part of a broader research note previewing FY25 for large-cap biopharma. The sector has underperformed the SP500, and with uncertainty around macro environment, investors have remained cautious, the analyst tells investors in a research note. Truist adds however that tailwinds for the sector could emerge from continued execution on launches, mid-stage growth, key catalysts, and an incoming administration potentially being more pro-pharma than expected. For the company, the firm contends that Bristol Myers is well-positioned to execute on recent and near-term launches that will drive momentum through the later part of the decade, also pointing to strong sales growth across numerous commercial products including Reblozyl, Breyanzi, and Opdualag that look to continue into 2025.
Tim Anderson
B of A Securities
Hold
2024-12-10
Price Target
$63
Upside
+8.56%
Alexandria Hammond
Wolfe Research
Hold
2024-11-15
Price Target
n/a
Downside
0%
