Bristol Myers Squibb (NYSE:BMY) Stock Price Target Cut by Morgan Stanley

Key Points

• Morgan Stanley lowered Bristol Myers Squibb’s price target from $41 to $40 and maintained an “underweight” rating, implying 36.43% downside from the prior close.
• Analyst sentiment remains mixed: BMY has a consensus “Hold” rating and an average price target of $65.46, despite other firms assigning targets as high as $78.
• Bristol Myers Squibb exceeded quarterly expectations with $1.35 adjusted EPS and $13.07 billion in revenue, though EPS fell year over year and patent expirations and weaker Opdivo sales remain risks.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) had its target price lowered by research analysts at Morgan Stanley from $41.00 to $40.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "underweight" rating on the biopharmaceutical company's stock. Morgan Stanley's target price suggests a potential downside of 36.43% from the company's previous close.

Several other brokerages have also weighed in on BMY. Citigroup reaffirmed a "neutral" rating and issued a $70.00 target price (up from $66.00) on shares of Bristol Myers Squibb in a research report on Monday, August 3rd. Piper Sandler reduced their price target on Bristol Myers Squibb from $82.00 to $78.00 and set an "overweight" rating for the company in a research report on Monday. BMO Capital Markets reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. Roth Capital began coverage on Bristol Myers Squibb in a research note on Wednesday, August 5th. They issued a "buy" rating and a $75.00 price objective on the stock. Finally, Jefferies Financial Group restated a "buy" rating and issued a $76.00 target price on shares of Bristol Myers Squibb in a report on Monday, October 12th. Two 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $65.46.

Bristol Myers Squibb Price Performance

Shares of BMY traded up $1.54 during midday trading on Friday, reaching $62.93. The stock had a trading volume of 5,376,064 shares, compared to its average volume of 12,008,648. The firm's 50 day moving average price is $62.86 and its 200-day moving average price is $59.90. Bristol Myers Squibb has a 52 week low of $45.20 and a 52 week high of $68.64. The company has a market capitalization of $128.54 billion, a P/E ratio of 13.86, a P/E/G ratio of 0.31 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.10 by $0.25. Bristol Myers Squibb had a net margin of 18.87% and a return on equity of 66.90%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.72 billion. During the same period in the prior year, the business earned $1.63 earnings per share. The business's quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts forecast that Bristol Myers Squibb will post 6.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Phil M. Holzer sold 500 shares of the stock in a transaction 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 sale, the senior vice president owned 16,862 shares in the company, valued at approximately $1,138,185. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.05% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BMY. BlackRock Inc. raised its holdings in 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 in the last quarter. State Street Corp raised its stake in shares of Bristol Myers Squibb by 7.3% in the second quarter. State Street Corp now owns 105,757,638 shares of the biopharmaceutical company's stock worth $6,093,755,000 after buying an additional 7,192,724 shares during the period. Primecap Management Co. CA bought a new position in shares of Bristol Myers Squibb in the second quarter worth about $1,436,115,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bristol Myers Squibb by 0.5% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 22,839,010 shares of the biopharmaceutical company's stock valued at $1,315,984,000 after purchasing an additional 119,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Bristol Myers Squibb by 2.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 18,762,589 shares of the biopharmaceutical company's stock valued at $1,137,847,000 after acquiring an additional 520,330 shares during the last quarter. Institutional investors own 76.41% of the company's stock.

Key Stories Impacting Bristol Myers Squibb

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

• Positive Sentiment: Third-quarter adjusted earnings of $1.35 per share exceeded the $1.10 consensus estimate, while revenue rose 6.9% year over year to $13.07 billion, beating expectations of $12.72 billion. Bristol-Myers Squibb Q3 earnings flash
• Positive Sentiment: Management raised its 2026 revenue outlook to approximately $50 billion, supported by strong demand for newer medicines. The Growth Portfolio grew 12% to $7.7 billion and supplied most of the quarterly revenue increase, helping offset pressure from older products facing patent expirations. BMY Q3 earnings call highlights
• Positive Sentiment: Continued Eliquis demand, progress across the development pipeline and reported cancer-trial advances strengthen the case that newer products can replace lost revenue over time. Barclays also maintained its Buy rating. Barclays maintains Buy rating
• Neutral Sentiment: Management highlighted artificial intelligence as a tool that is already accelerating drug research, but the financial impact remains difficult to quantify and is a longer-term consideration for investors. Bristol Myers discusses AI in drug research
• Negative Sentiment: Bristol Myers reduced its 2026 earnings outlook because higher in-process research and development charges are expected to weigh on profitability. Adjusted EPS also declined from $1.63 a year earlier to $1.35. Bristol Myers cuts EPS outlook
• Negative Sentiment: Opdivo sales came in below expectations, while patent expirations, launch execution and the challenge of replacing revenue from mature drugs remain important risks. Bristol Myers Opdivo sales and guidance

About Bristol Myers Squibb

Bristol Myers Squibb NYSE: BMY is a global biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases. Its research and development activities span oncology, hematology, immunology, cardiovascular disease, neuroscience and other specialty areas.

The company's portfolio includes oncology medicines such as Opdivo, Yervoy, Abraxane, Sprycel and Pomalyst, as well as Eliquis, an anticoagulant developed in partnership with Pfizer. Bristol Myers Squibb also markets immunology and neuroscience products, including Orencia and Sotyktu, and continues to invest in therapies based on biologics, cell therapy and other advanced treatment approaches.

Bristol Myers Squibb traces its roots to pharmaceutical businesses founded by Bristol-Myers in 1881 and E.R.

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