RBC Initiates Coverage of Bristol Myers Squibb with Sector Perform Rating
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 6 days ago
0mins
Should l Buy BMY?
Source: seekingalpha
- Coverage Initiation: RBC Capital Markets has initiated coverage of Bristol Myers Squibb (BMY) with a sector perform rating, indicating that while the company has a solid late-stage pipeline, the risk/reward profile is balanced at current levels.
- Price Target Set: The bank has set a price target of $60, which implies approximately 3% downside based on the February 24 close, reflecting a cautious market outlook on the company's future performance.
- Pipeline Potential: Analyst Trung Huynh noted that Bristol has the most significant Phase 3 paths among large-cap pharma, including milvexian (stroke/AF) and Cobenfy (Alzheimer's psychosis), highlighting its research and development potential.
- Revenue Decline Forecast: Huynh projects that Bristol's revenues will decline from $48 billion in 2025 to $31 billion in 2034, primarily due to around $30 billion in product loss of exclusivity by 2030, emphasizing the need for pipeline approvals to offset this loss.
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Analyst Views on BMY
Wall Street analysts forecast BMY stock price to fall
20 Analyst Rating
8 Buy
11 Hold
1 Sell
Moderate Buy
Current: 62.340
Low
37.00
Averages
55.86
High
68.00
Current: 62.340
Low
37.00
Averages
55.86
High
68.00
About BMY
Bristol-Myers Squibb Company is a global biopharmaceutical company. It is engaged in the discovery, development and delivery of transformational medicines for patients facing serious diseases in areas: oncology, hematology, immunology, cardiovascular, neuroscience and other areas. Its growth portfolio includes Opdivo (nivolumab), Opdivo Qvantig (nivolumab and hyaluronidase-nvhy), Yervoy (ipilimumab), Reblozyl (luspatercept-aamt), Opdualag (nivolumab and relatlimab-rmbw), Breyanzi (lisocabtagene maraleucel), Camzyos (mavacamten), Zeposia (ozanimod), Abecma (idecabtagene vicleucel), and Sotyktu (deucravacitinib). Its other growth products include Onureg, Inrebic, and Empliciti. Its legacy portfolio includes Eliquis (apixaban), Revlimid (lenalidomide), Pomalyst/Imnovid (pomalidomide), Sprycel (dasatinib), and Abraxane (paclitaxel albumin-bound particles for injectable suspension). Opdivo (nivolumab) is a fully human monoclonal antibody that binds to the PD-1 on T and NKT cells.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Market Size Forecast: By 2036, the acute ischemic stroke treatment market is projected to continue expanding, with the United States holding the largest market share; in 2025, approximately 1.8 million new cases of acute ischemic stroke are expected in the 7MM, indicating strong market demand.
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