Bristol Myers Squibb (NYSE:BMY) Price Target Raised to $55.00 at Wells Fargo & Company

Bristol Myers Squibb (NYSE:BMY) had its price objective boosted by investment analysts at Wells Fargo & Company from $53.00 to $55.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 7.15% from the stock’s previous close.

Several other equities analysts have also recently issued reports on BMY. HSBC reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Bristol Myers Squibb in a research note on Wednesday. Cantor Fitzgerald restated a “neutral” rating on shares of Bristol Myers Squibb in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Bristol Myers Squibb in a research report on Tuesday, October 14th. Scotiabank restated a “sector perform” rating and issued a $53.00 target price (up from $45.00) on shares of Bristol Myers Squibb in a report on Thursday, December 4th. Finally, Truist Financial set a $65.00 target price on Bristol Myers Squibb in a report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.83.

Bristol Myers Squibb Price Performance

BMY traded up $0.68 during trading on Wednesday, reaching $51.33. The stock had a trading volume of 6,840,865 shares, compared to its average volume of 13,905,886. The stock has a 50 day moving average of $46.47 and a two-hundred day moving average of $46.83. The company has a quick ratio of 1.17, a current ratio of 1.27 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $104.50 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 7.90 and a beta of 0.29. Bristol Myers Squibb has a 1-year low of $42.52 and a 1-year high of $63.33.

Bristol Myers Squibb (NYSE:BMY) last posted its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.11. Bristol Myers Squibb had a return on equity of 76.53% and a net margin of 12.57%.The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same quarter in the previous year, the business earned $1.80 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Bristol Myers Squibb has set its FY 2025 guidance at 6.400-6.600 EPS. As a group, equities analysts anticipate that Bristol Myers Squibb will post 6.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Bristol Myers Squibb

A number of large investors have recently made changes to their positions in BMY. Brighton Jones LLC grew its holdings in shares of Bristol Myers Squibb by 33.4% during the 4th quarter. Brighton Jones LLC now owns 19,728 shares of the biopharmaceutical company’s stock valued at $1,116,000 after acquiring an additional 4,935 shares in the last quarter. HighTower Advisors LLC increased its position in Bristol Myers Squibb by 0.5% in the 1st quarter. HighTower Advisors LLC now owns 930,470 shares of the biopharmaceutical company’s stock worth $56,749,000 after purchasing an additional 5,004 shares during the last quarter. Stone House Investment Management LLC purchased a new stake in shares of Bristol Myers Squibb during the 1st quarter worth about $64,000. LGT Group Foundation grew its stake in shares of Bristol Myers Squibb by 2.4% in the 1st quarter. LGT Group Foundation now owns 30,592 shares of the biopharmaceutical company’s stock valued at $1,866,000 after buying an additional 718 shares in the last quarter. Finally, GKV Capital Management Co. Inc. acquired a new position in Bristol Myers Squibb in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 76.41% of the company’s stock.

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.