Sprouts Farmers Market closes $600 million revolving credit facility
Friday, the BMO Capital Markets maintained its Market Perform rating on Bristol-Myers Squibb Co. (NYSE:BMY) with a steady price target of $53.00. The rating affirmation comes as the company continues to monitor the performance of its schizophrenia medication, Cobenfy. According to InvestingPro analysis, BMY appears undervalued at its current price of $47.84, with the company maintaining strong financial health metrics and a notable 5.18% dividend yield.
According to BMO Capital’s analyst, there has been a slight increase in the total prescriptions (TRx) of Cobenfy, which rose by 1.8% this week, reaching 1,820 TRx. The analyst’s tracking of the drug’s weekly TRx through IQVIA data has provided insights into its market uptake. This development is particularly significant for Bristol-Myers Squibb, which generated $47.64 billion in revenue over the last twelve months, with a robust 74.7% gross profit margin.
Despite the recent uptick in prescriptions, BMO Capital’s expectations for Cobenfy’s revenue in the second quarter of 2025 are higher than the current consensus on Wall Street. The firm projects that Cobenfy will generate $32 million in revenue, compared to the street estimate of $27 million. The gap between BMO Capital’s forecast and the street’s expectations has been observed to narrow in the past few weeks. InvestingPro subscribers have access to detailed analyst forecasts and 10+ additional exclusive insights about BMY’s financial outlook.
Bristol-Myers Squibb’s Cobenfy is part of the company’s portfolio aimed at addressing mental health conditions, with schizophrenia being a key focus. The drug’s performance is critical as the company seeks to establish a strong foothold in the market for psychiatric medications.
The maintained Market Perform rating indicates that BMO Capital views Bristol-Myers Squibb’s stock as fairly valued at its current price level, with the $53.00 price target suggesting that the firm does not anticipate significant stock movement in the near term based on the available data.
In other recent news, Bristol Myers Squibb has reported robust financial results for the first quarter of 2025, with earnings per share (EPS) reaching $1.80, surpassing analysts’ expectations of $1.52. The company’s revenue also exceeded forecasts, totaling $11.2 billion compared to the anticipated $10.68 billion. Following these results, Bristol Myers Squibb has adjusted its full-year revenue guidance to a range of $45.8 billion to $46.8 billion. In regulatory developments, the European Commission approved a new subcutaneous formulation of Opdivo for use in adult patients with various solid tumors. This formulation is expected to enhance patient experience by offering a more efficient administration method. Additionally, Bristol Myers Squibb has appointed Cari Gallman as the new Executive Vice President, General Counsel, and Chief Policy Officer. In terms of analyst perspectives, BofA Securities increased its price target for the company to $56 while maintaining a Neutral rating, citing challenges such as generic competition affecting earnings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.