BMY Price Prediction Next Week
Analysis and Insights
Based on the analysis of news sentiment and technical indicators, here is the prediction for Bristol-Myers Squibb (BMY) stock for the next trading week:
News Sentiment Analysis:
- Positive Developments: Recent Phase 2 trial success for Breyanzi in relapsed or refractory indolent B-cell non-Hodgkin lymphoma, with the study meeting its primary endpoint and demonstrating a statistically significant overall response rate.
- Dividend Announcement: BMY announced a quarterly dividend of $0.62 per share, reflecting its commitment to returning value to shareholders.
- Strong Pipeline: BMY has a robust pipeline bolstered by recent acquisitions and partnerships, further strengthening its position in the biopharmaceutical sector.
Technical Analysis:
- Current Price: $61.03 (as of 2025-03-21).
- RSI (14): 58.60, indicating the stock is near the lower end of the neutral range, suggesting potential for upward movement.
- MACD: The MACD line is slightly above the signal line, indicating a bullish trend.
- Fibonacci Levels:
- Resistance: $62.63
- Support: $58.84
- Pivot: $60.74
Prediction:
- Target Price: $62.50
- Stop Loss: $58.50
Recommendation:
Buy BMY stock as the technical indicators and positive news sentiment suggest upward momentum in the short term.
BMY Similar Chart Price Prediction
The price of BMY is predicted to go up 6.18%, based on the high correlation periods with TT. The similarity of these two price pattern on the periods is 96.96%.
BMY
TT
Up: 6.18%Similarity: 96.96%
BMY Revenue Forecast
BMY EPS 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%
