Bristol-Myers Squibb (NYSE:BMY) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Bristol-Myers Squibb (NYSE:BMY) had its price target upped by equities research analysts at Cantor Fitzgerald from $50.00 to $55.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would suggest a potential downside of 7.82% from the stock’s current price. Cantor Fitzgerald also issued estimates for Bristol-Myers Squibb’s FY2024 earnings at $0.93 EPS and FY2025 earnings at $6.65 EPS.

A number of other research firms have also weighed in on BMY. Citigroup upped their price objective on Bristol-Myers Squibb from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 13th. Bank of America reiterated a “neutral” rating and set a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. TD Cowen upped their target price on shares of Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Finally, Leerink Partnrs upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Bristol-Myers Squibb presently has an average rating of “Hold” and a consensus target price of $56.93.

Bristol-Myers Squibb Stock Up 0.9 %

BMY opened at $59.66 on Tuesday. The stock has a market cap of $121.01 billion, a price-to-earnings ratio of -16.62, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. The firm’s fifty day moving average is $57.64 and its 200 day moving average is $53.59. Bristol-Myers Squibb has a fifty-two week low of $39.35 and a fifty-two week high of $61.10.

Institutional Trading of Bristol-Myers Squibb

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock valued at $2,325,227,000 after acquiring an additional 4,275,787 shares during the period. Jennison Associates LLC grew its holdings in Bristol-Myers Squibb by 420.1% during the 3rd quarter. Jennison Associates LLC now owns 4,241,255 shares of the biopharmaceutical company’s stock valued at $219,443,000 after purchasing an additional 3,425,789 shares during the last quarter. Janus Henderson Group PLC raised its position in Bristol-Myers Squibb by 695.1% in the 3rd quarter. Janus Henderson Group PLC now owns 3,554,758 shares of the biopharmaceutical company’s stock worth $183,971,000 after purchasing an additional 3,107,672 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Bristol-Myers Squibb by 18.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,074,823 shares of the biopharmaceutical company’s stock worth $986,931,000 after purchasing an additional 3,002,418 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Bristol-Myers Squibb by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after buying an additional 1,968,729 shares during the period. 76.41% of the stock is currently owned by institutional investors.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.