Bristol Myers Squibb (NYSE:BMY) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered Bristol Myers Squibb’s price target from $59 to $53 and maintained a “neutral” rating, implying 11.2% potential downside from the stock’s current price.
• Analyst sentiment remains mixed but leans positive: MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $66.72, with targets ranging from $41 to $82.
• Bristol Myers Squibb recently exceeded quarterly expectations, reporting $2.04 in earnings per share versus a $1.60 consensus estimate and $12.97 billion in revenue, up 5.7% year over year.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) had its target price cut by stock analysts at Cantor Fitzgerald from $59.00 to $53.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the biopharmaceutical company's stock. Cantor Fitzgerald's price target would suggest a potential downside of 11.20% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Morgan Stanley reiterated an "underweight" rating and set a $41.00 target price (up from $40.00) on shares of Bristol Myers Squibb in a research report on Wednesday. Wells Fargo & Company set a $65.00 price objective on shares of Bristol Myers Squibb and gave the stock an "equal weight" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. upped their price target on Bristol Myers Squibb from $67.00 to $73.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Piper Sandler reissued an "overweight" rating and issued a $82.00 price objective (up from $75.00) on shares of Bristol Myers Squibb in a research note on Wednesday, September 16th. Finally, BMO Capital Markets reiterated a "market perform" rating on shares of Bristol Myers Squibb in a report on Monday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $66.72.

Bristol Myers Squibb Price Performance

Shares of NYSE:BMY opened at $59.69 on Thursday. Bristol Myers Squibb has a one year low of $42.52 and a one year high of $68.64. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.53 and a quick ratio of 1.38. The company has a market cap of $121.92 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.28 and a beta of 0.19. The firm has a 50 day simple moving average of $64.38 and a 200 day simple moving average of $60.27.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 earnings per share for the quarter, topping the consensus estimate 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 business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.46 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. Research analysts predict that Bristol Myers Squibb will post 6.95 earnings per share for the current fiscal year.

Insider Activity at Bristol Myers Squibb

In other news, SVP Phil M. Holzer sold 500 shares of the firm's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $67.50, for a total value of $33,750.00. Following the completion of the transaction, the senior vice president directly owned 16,862 shares of the company's stock, valued at $1,138,185. This trade represents a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.05% of the stock is owned by insiders.

Institutional Trading of Bristol Myers Squibb

A number of institutional investors have recently added to or reduced their stakes in the stock. Vann Equity Management LLC purchased a new position in Bristol Myers Squibb during the 3rd quarter valued at about $296,000. Steph & Co. lifted its holdings in shares of Bristol Myers Squibb by 5.5% in the third quarter. Steph & Co. now owns 8,491 shares of the biopharmaceutical company's stock worth $530,000 after buying an additional 446 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in shares of Bristol Myers Squibb by 13.1% in the third quarter. Elevation Wealth Partners LLC now owns 1,603 shares of the biopharmaceutical company's stock valued at $100,000 after acquiring an additional 186 shares during the period. Cooper Financial Group grew its stake in Bristol Myers Squibb by 3.2% during the third quarter. Cooper Financial Group now owns 12,784 shares of the biopharmaceutical company's stock valued at $798,000 after acquiring an additional 397 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida bought a new stake in Bristol Myers Squibb during the 3rd quarter worth approximately $394,000. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Company Profile

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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