Bristol Myers Squibb (NYSE:BMY) Stock Rating Lowered by Leerink Partners

Bristol Myers Squibb (NYSE:BMY) was downgraded by equities researchers at Leerink Partners from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, Marketbeat reports. They presently have a $59.00 price target on the biopharmaceutical company’s stock, down from their prior price target of $73.00. Leerink Partners’ price objective points to a potential downside of 0.85% from the company’s previous close.

Several other brokerages also recently weighed in on BMY. Sanford C. Bernstein raised shares of Bristol Myers Squibb from a “market perform” rating to an “outperform” rating in a report on Wednesday, August 5th. Royal Bank Of Canada raised their price target on Bristol Myers Squibb from $60.00 to $64.00 and gave the company a “sector perform” rating in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on Bristol Myers Squibb from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. HSBC reiterated 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. Finally, Citigroup reissued a “neutral” rating and set a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.00.

Bristol Myers Squibb Trading Up 1.2%

Shares of NYSE:BMY opened at $59.51 on Monday. The stock has a 50 day moving average of $64.45 and a 200 day moving average of $60.26. The company has a market cap of $121.56 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.28 and a beta of 0.19. Bristol Myers Squibb has a 12-month low of $42.52 and a 12-month high of $68.64. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.44. The business had revenue of $12.97 billion for the quarter, compared to the consensus estimate of $11.74 billion. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. 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, equities research analysts expect that Bristol Myers Squibb will post 6.95 EPS for the current year.

Insider Buying and Selling at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president owned 16,862 shares in the company, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bristol Myers Squibb

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Primecap Management Co. CA purchased a new position in Bristol Myers Squibb in the second quarter worth about $1,436,115,000. Legal & General Group Plc purchased a new stake in Bristol Myers Squibb during the second quarter valued at approximately $980,862,000. BlackRock Inc. boosted its holdings in shares of Bristol Myers Squibb by 5.1% in the 2nd quarter. BlackRock Inc. now owns 180,384,994 shares of the biopharmaceutical company’s stock worth $10,393,783,000 after purchasing an additional 8,702,106 shares during the period. State Street Corp increased its position in shares of Bristol Myers Squibb by 7.3% during the 2nd quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company’s stock valued at $6,093,755,000 after purchasing an additional 7,192,724 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Bristol Myers Squibb by 153.8% during the 1st quarter. SG Americas Securities LLC now owns 8,910,032 shares of the biopharmaceutical company’s stock valued at $540,393,000 after purchasing an additional 5,399,407 shares during the last quarter. 76.41% of the stock is owned by institutional investors.

Bristol Myers Squibb News Roundup

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

• Positive Sentiment: Sotyktu adoption is expanding in psoriatic arthritis. Rheumatologists are increasingly prescribing the oral TYK2 inhibitor and view its differentiation positively. Broader use could help Bristol Myers Squibb replace revenue lost from older products, although the launch is still early. Sotyktu Gains Ground in Psoriatic Arthritis
• Positive Sentiment: Low valuation is attracting value-focused investors. Bristol Myers Squibb trades below 10 times forward earnings, and its established scale, cash generation and newer-product growth may offer downside protection if the company successfully navigates its portfolio transition. Bristol Myers Stock Trading Below 10 Times Forward Earnings
• Positive Sentiment: Some valuation analysis views BMY as potentially undervalued. Recent Zacks commentary highlights the stock’s value characteristics and compares it favorably as an option for investors seeking exposure to the biomedical and genetics sector. Are Investors Undervaluing Bristol Myers Squibb?
• Neutral Sentiment: Bristol Myers Squibb expanded its Champions in Care program with a $1 million grant initiative for medically underserved communities. The announcement supports the company’s reputation and healthcare relationships but is unlikely to materially affect near-term earnings. Bristol Myers Squibb Deepens Commitment to Healthcare Professionals
• Negative Sentiment: Leerink Partners downgraded BMY to Market Perform and cut its price target to $59 from $73. The move signals reduced confidence in the stock’s near-term upside and adds pressure despite its low valuation. Leerink Partners Downgrades Bristol Myers Squibb
• Negative Sentiment: Patent expirations remain the central investment risk. Generic and patent pressure on older blockbuster drugs could weigh on revenue and earnings before newer medicines fully offset the decline, explaining why the stock remains discounted. Bristol Myers Squibb Patent Cliff Is Still a Problem

About Bristol Myers Squibb

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.