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Investing.com - Cantor Fitzgerald lowered its price target on Bristol-Myers Squibb Co. (NYSE:BMY), a prominent pharmaceutical company with $95 billion market cap and $47.7 billion in annual revenue, to $45.00 from $55.00 on Wednesday, while maintaining a Neutral rating on the stock.
The firm cited mixed quality in Bristol’s top-line beat, noting that tailwinds came from legacy products and foreign exchange effects. According to InvestingPro data, the company maintains a healthy 74% gross profit margin and offers a substantial 5.3% dividend yield. Despite these factors driving modestly higher estimates for 2025, Cantor Fitzgerald emphasized that investors should focus on the upcoming Cobenfy ADEPT-2 top line results.
Cantor Fitzgerald views the risk as balanced for this catalyst, with potential upside to $52-54 or downside to $38-40. The firm’s decision to lower the price target stems from recent clinical setbacks and persistent questions about Bristol-Myers Squibb’s longer-term growth trajectory. InvestingPro analysis suggests the stock is currently undervalued, with 12 additional key insights available to subscribers.
The research note also mentioned the company’s likely continued need for additional mergers and acquisitions activity. Cantor Fitzgerald described its view as supported by "at best mixed commentary" heading into the ADEPT-2 trial results.
The firm characterized the ADEPT-2 catalyst as having "at best only marginal de-risking prior data" while facing "significant outstanding questions."
In other recent news, BioNTech SE reported its second quarter 2025 revenue, which doubled compared to the previous year, reaching €260.8 million. This figure significantly surpassed analyst estimates of €137.9 million. However, the company posted a net loss of €386.6 million, or -€1.60 per share, which was slightly worse than the expected loss of -€1.41 per share. Despite this, the revenue growth was bolstered by a deal with Bristol Myers, enhancing the company’s outlook. Additionally, analysts had projected different figures, underscoring the importance of this revenue performance. These developments are part of BioNTech’s recent activities, reflecting both challenges and opportunities.
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