Investors Purchase Large Volume of Put Options on Bristol Myers Squibb (NYSE:BMY)

Key Points

• Unusual bearish options activity: Traders purchased 44,454 put options on Bristol Myers Squibb, 71% above the typical daily volume of 26,019 contracts.
• Pipeline progress faces portfolio risks: Positive Phase 2 arlo-cel results and encouraging psoriasis data may support future growth, but generic competition, a patent dispute, and rising immuno-oncology competition remain concerns.
• Analysts remain moderately bullish: BMY has a consensus “Moderate Buy” rating and an average price target of $66.33, compared with a recent share price of $63.76; the company also reported an earnings beat and offers a 4.0% dividend yield.

Bristol Myers Squibb Company (NYSE:BMY - Get Free Report) saw some unusual options trading on Thursday. Stock traders bought 44,454 put options on the stock. This is an increase of 71% compared to the typical daily volume of 26,019 put options.

More Bristol Myers Squibb News

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

• Positive Sentiment: Bristol Myers reported positive Phase 2 results for arlo-cel in heavily pretreated multiple myeloma. The data could strengthen the company’s cell-therapy pipeline and support future portfolio expansion. Bristol Myers Squibb Reports Positive Phase 2 Results For Arlo-cel In Multiple Myeloma
• Positive Sentiment: New long-term psoriasis-study data provide a potential catalyst for BMY and may reinforce the durability and commercial prospects of its immunology franchise. Bristol-Myers Squibb’s Long-Term Psoriasis Study Brings Fresh Data for BMY Investors
• Positive Sentiment: Analysts see Bristol Myers’ growth brands and pipeline progress—including arlo-cel—as supporting momentum and helping offset pressure on older products. The company could also benefit relative to Novartis from concerns surrounding deaths and trial pauses tied to Novartis’ experimental CAR-T program. Will The Recent Pipeline Progress Boost BMY’s Portfolio Expansion?
• Neutral Sentiment: Scotiabank maintained its Hold rating, suggesting the current valuation and improving pipeline are reasonably balanced against execution and competitive risks. Scotiabank Keeps Their Hold Rating on Bristol-Myers Squibb
• Neutral Sentiment: A new immuno-oncology company raised $225 million to develop a next-generation CTLA-4 drug. While not a direct BMY development, increased investment in cancer immunotherapy could add longer-term competitive pressure. A New Immuno-Oncology Play Raises $225M
• Negative Sentiment: RBC said Cytokinetics has an advantage in a patent dispute involving Bristol Myers, creating legal uncertainty and potential risk to the company’s intellectual-property position. Cytokinetics Has Advantage in Bristol-Myers Squibb Patent Dispute
• Negative Sentiment: Investors remain cautious because generic competition is eroding Bristol Myers’ legacy portfolio, increasing reliance on newer growth brands and pipeline launches. BMY Gains 19.4% Year to Date

Wall Street Analyst Weigh In

BMY has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Bristol Myers Squibb from $60.00 to $64.00 and gave the stock a "sector perform" rating in a report on Friday, July 31st. HSBC reissued 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. Guggenheim restated a "buy" rating and issued a $75.00 target price (up from $72.00) on shares of Bristol Myers Squibb in a research note on Friday, July 31st. Citigroup reaffirmed a "neutral" rating and set a $70.00 price target (up from $66.00) on shares of Bristol Myers Squibb in a research note on Monday, August 3rd. Finally, Jefferies Financial Group downgraded shares of Bristol Myers Squibb from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Bristol Myers Squibb has a consensus rating of "Moderate Buy" and an average target price of $66.33.

Insider Buying and Selling

In other Bristol Myers Squibb news, SVP Phil M. Holzer sold 500 shares of the business'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 transaction, the senior vice president owned 16,862 shares in the company, valued at $1,138,185. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.05% of the stock is owned by company insiders.

Institutional Trading of Bristol Myers Squibb

Institutional investors have recently made changes to their positions in the stock. Davis Asset Management L.P. acquired a new stake in Bristol Myers Squibb in the second quarter worth approximately $27,000. Swiss RE Ltd. acquired a new position in shares of Bristol Myers Squibb during the 4th quarter valued at $25,000. Darwin Wealth Management LLC bought a new stake in shares of Bristol Myers Squibb in the 2nd quarter worth $25,000. Addison Advisors LLC acquired a new stake in shares of Bristol Myers Squibb in the second quarter valued at $32,000. Finally, Bayban acquired a new stake in shares of Bristol Myers Squibb in the fourth quarter valued at $31,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Bristol Myers Squibb Stock Performance

NYSE BMY traded down $0.65 on Thursday, hitting $63.76. The stock had a trading volume of 3,869,938 shares, compared to its average volume of 11,852,757. The company's 50-day moving average is $63.39 and its two-hundred day moving average is $60.03. Bristol Myers Squibb has a one year low of $42.52 and a one year high of $68.64. The stock has a market cap of $130.25 billion, a price-to-earnings ratio of 14.05, a P/E/G ratio of 0.31 and a beta of 0.23. The company has a quick ratio of 1.38, a current ratio of 1.53 and a debt-to-equity ratio of 1.89.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.60 by $0.44. The firm 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 revenue was up 5.7% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS. Bristol Myers Squibb has set its FY 2026 guidance at 6.750-7.000 EPS. On average, analysts expect that Bristol Myers Squibb will post 6.95 earnings per share for the current year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $2.52 annualized dividend and a yield of 4.0%. Bristol Myers Squibb's dividend payout ratio (DPR) is presently 55.51%.

Bristol Myers Squibb Company Profile

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops and commercializes prescription medicines. Its portfolio includes therapies for cancer, blood disorders, cardiovascular disease, immune-mediated conditions and psychiatric disorders. Key products include Opdivo and Yervoy for oncology, Eliquis for reducing the risk of stroke and systemic embolism, Revlimid for certain blood cancers, and several other specialty medicines.

The company serves patients and healthcare providers in markets around the world, with operations and commercial activities spanning North America, Europe, Asia-Pacific and other international regions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.