Bristol Myers Squibb (NYSE:BMY) Price Target Cut to $66.00 by Analysts at Bank of America

Key Points

• Bank of America cut Bristol Myers Squibb’s price target from $67 to $66 while keeping a buy rating, implying about 15.23% upside from the prior close.
• Analyst sentiment remains mixed overall: the stock has 8 Buy, 10 Hold, and 1 Sell ratings, with MarketBeat’s average view at Hold and an average price target of $61.25.
• Bristol Myers Squibb shares fell 1.1% to $57.27 on Friday, after the company recently reported better-than-expected quarterly earnings and revenue and reaffirmed its FY 2026 EPS guidance.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) had its price objective decreased by stock analysts at Bank of America from $67.00 to $66.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Bank of America's price target suggests a potential upside of 15.23% from the stock's previous close.

BMY has been the subject of several other reports. Cantor Fitzgerald reissued a "neutral" rating and issued a $54.00 price objective on shares of Bristol Myers Squibb in a research report on Monday. Weiss Ratings restated a "hold (c+)" rating on shares of Bristol Myers Squibb in a research note on Thursday, July 2nd. Citigroup reissued a "neutral" rating on shares of Bristol Myers Squibb in a research note on Friday, May 1st. UBS Group reiterated a "buy" rating on shares of Bristol Myers Squibb in a research report on Thursday, May 28th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $72.00 target price on shares of Bristol Myers Squibb in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $61.25.

Bristol Myers Squibb Stock Down 1.1%

Shares of Bristol Myers Squibb stock traded down $0.67 during trading on Friday, hitting $57.27. 3,067,672 shares of the stock traded hands, compared to its average volume of 12,298,191. The stock has a market cap of $116.96 billion, a P/E ratio of 16.09, a PEG ratio of 0.16 and a beta of 0.23. The company has a fifty day moving average price of $56.83 and a two-hundred day moving average price of $57.62. Bristol Myers Squibb has a twelve month low of $42.52 and a twelve month high of $62.89. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.28 and a current ratio of 1.42.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $11.49 billion for the quarter, compared to analyst estimates of $10.93 billion. Bristol Myers Squibb had a net margin of 15.01% and a return on equity of 64.87%. The company's revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.80 earnings per share. Bristol Myers Squibb has set its FY 2026 guidance at 6.050-6.350 EPS. Equities research analysts predict that Bristol Myers Squibb will post 6.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Charles Schwab Trust Co increased its holdings in shares of Bristol Myers Squibb by 11.9% during the second quarter. Charles Schwab Trust Co now owns 3,775 shares of the biopharmaceutical company's stock worth $218,000 after buying an additional 400 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its position in Bristol Myers Squibb by 319.6% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 17,209 shares of the biopharmaceutical company's stock worth $992,000 after acquiring an additional 13,108 shares during the last quarter. Sage Capital Advisors llc increased its holdings in Bristol Myers Squibb by 1.1% in the 2nd quarter. Sage Capital Advisors llc now owns 87,958 shares of the biopharmaceutical company's stock worth $5,068,000 after purchasing an additional 975 shares in the last quarter. Fulton Bank N.A. raised its position in Bristol Myers Squibb by 20.8% in the second quarter. Fulton Bank N.A. now owns 10,505 shares of the biopharmaceutical company's stock valued at $605,000 after purchasing an additional 1,811 shares during the last quarter. Finally, Sapient Capital LLC boosted its stake in shares of Bristol Myers Squibb by 1.0% during the second quarter. Sapient Capital LLC now owns 37,372 shares of the biopharmaceutical company's stock valued at $2,153,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 76.41% of the company's stock.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company headquartered in Princeton, New Jersey, focused on discovering, developing and delivering medicines for serious diseases. The company's core activities include research and development, clinical development, manufacturing and commercialization of prescription pharmaceuticals across multiple therapeutic areas. BMS concentrates on advancing therapies in oncology, hematology, immunology, cardiovascular disease and specialty areas through both small molecules and biologics.

BMS's marketed portfolio and late‑stage pipeline reflect a strong emphasis on cancer and immune‑mediated conditions.

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