Bristol Myers Squibb (NYSE:BMY) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut Bristol Myers Squibb’s price target from $65 to $60 while maintaining an “equal weight” rating, implying approximately 5.8% upside from the current share price.
• Analyst sentiment remains mixed, with the stock carrying a consensus “Hold” rating and an average price target of $64.88; targets from other firms range from $60 to $75.
• Bristol Myers Squibb recently exceeded quarterly earnings and revenue expectations, reporting $2.04 in EPS and $12.97 billion in revenue, while shares traded at $56.71 and remained below their 50-day moving average.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) had its price target decreased by stock analysts at Wells Fargo & Company from $65.00 to $60.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "equal weight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's price target suggests a potential upside of 5.81% from the stock's current price.

Several other brokerages also recently issued reports on BMY. Wall Street Zen upgraded Bristol Myers Squibb from a "buy" rating to a "strong-buy" rating in a research report on Saturday, June 27th. Royal Bank Of Canada lifted their target price on Bristol Myers Squibb from $60.00 to $64.00 and gave the company a "sector perform" rating in a research note on Friday, July 31st. Argus raised Bristol Myers Squibb from a "hold" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Wednesday, August 5th. William Blair reissued a "market perform" rating on shares of Bristol Myers Squibb in a report on Monday. Finally, JPMorgan Chase & Co. raised their price target on Bristol Myers Squibb from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $64.88.

Bristol Myers Squibb Stock Performance

Shares of Bristol Myers Squibb stock traded down $0.87 on Tuesday, reaching $56.71. 2,701,381 shares of the company were exchanged, compared to its average volume of 12,004,898. Bristol Myers Squibb has a 1-year low of $42.52 and a 1-year high of $68.64. The firm has a market cap of $115.83 billion, a price-to-earnings ratio of 12.45, a P/E/G ratio of 0.29 and a beta of 0.19. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.38 and a current ratio of 1.53. The company's 50-day moving average is $63.99 and its two-hundred day moving average is $60.30.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.44. The company had revenue of $12.97 billion for the quarter, compared to analysts' expectations of $11.74 billion. Bristol Myers Squibb had a return on equity of 66.90% and a net margin of 18.87%. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period last year, the business posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. As a group, research analysts expect that Bristol Myers Squibb will post 6.80 earnings per share for the current fiscal year.

Insider Transactions at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of Bristol Myers Squibb 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 transaction, the senior vice president directly owned 16,862 shares in the company, valued at approximately $1,138,185. This trade represents a 2.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.05% of the company's stock.

Institutional Trading of Bristol Myers Squibb

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC raised its holdings in shares of Bristol Myers Squibb by 23.7% during the first quarter. Lazard Asset Management LLC now owns 1,924,036 shares of the biopharmaceutical company's stock worth $116,693,000 after acquiring an additional 368,193 shares in the last quarter. Callan Family Office LLC acquired a new stake in Bristol Myers Squibb during the second quarter valued at $3,575,000. BlackRock Inc. grew its stake 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 valued at $10,393,783,000 after buying an additional 8,702,106 shares in the last quarter. Asset One Wealth Management LLC acquired a new stake in Bristol Myers Squibb in the fourth quarter valued at approximately $4,075,000. Finally, Saudi Central Bank grew its position in Bristol Myers Squibb by 90.2% in the second quarter. Saudi Central Bank now owns 142,922 shares of the biopharmaceutical company's stock worth $8,235,000 after acquiring an additional 67,780 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Key Bristol Myers Squibb News

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

• Positive Sentiment: BMS reported that the Phase 3 ACTION-1 trial of RYZ101, a RayzeBio radiopharmaceutical, met its primary endpoint by delivering a statistically significant and clinically meaningful improvement in progression-free survival for patients with advanced gastroenteropancreatic neuroendocrine tumors. The result supports BMS’s strategy of expanding its oncology pipeline ahead of a major 2028 patent-expiration risk. ACTION-1 RYZ101 Phase 3 Results
• Positive Sentiment: The Phase 3 ALOFT-IPF study of admilparant met its primary endpoint at the lower 60-mg twice-daily dose in idiopathic pulmonary fibrosis. BMS plans to discuss the data with regulators, potentially advancing a new growth opportunity beyond its established medicines. ALOFT-IPF Phase 3 Results
• Neutral Sentiment: BMS sponsored an article highlighting artificial-intelligence innovation to improve access to lung-cancer care. The initiative supports the company’s healthcare and corporate-profile efforts but is unlikely to materially affect near-term earnings or valuation. AI Innovation in Lung Cancer Care
• Negative Sentiment: Investor reaction to the ALOFT-IPF announcement was cautious because only the lower dose met the primary endpoint while the higher dose did not, raising questions about admilparant’s efficacy, dosing flexibility and commercial potential. This appears to have outweighed the favorable trial headlines. Mixed Admilparant Trial Results
• Negative Sentiment: Analysts expect third-quarter earnings later this month to show a single-digit decline in the bottom line. Investors remain alert to generic competition, patent-cliff exposure and execution risks even though BMS has reported strong recent pipeline progress. BMS Quarterly Earnings Preview

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.

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