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On Tuesday, Cantor Fitzgerald updated its financial model for Bristol-Myers Squibb Co. (NYSE:BMY), leading to an increased price target on the company’s stock. Analysts at the firm now see the price target at $55.00, up from the previous $50.00, while continuing to hold a Neutral stance on the stock. According to InvestingPro data, the stock is currently trading near its 52-week high of $61.10, with seven analysts recently revising their earnings estimates upward for the upcoming period.
The revision comes ahead of Bristol-Myers Squibb’s fourth-quarter earnings report, scheduled to be released Thursday, February 6. The adjustment in the price target is primarily attributed to a stronger belief in the potential peak sales of Cobenfy, a drug in the company’s portfolio. Cantor Fitzgerald analysts now anticipate that Cobenfy could generate over $5 billion in annual revenue at its peak by the year 2033. The company currently generates annual revenue of $47.4 billion and maintains a robust gross profit margin of 76%, according to InvestingPro data.
In her assessment, Olivia Brayer, the analyst at Cantor Fitzgerald, indicated several key risks that could impact the 12-month price target for Bristol-Myers Squibb. These risks include the pace of patent erosion for ongoing loss of exclusivity (LOEs), the outcomes of data readouts from the late-stage drug pipeline, the regulatory and commercial challenges associated with launching new products, and the influence of broader macroeconomic factors on the biopharmaceutical sector at large.
The company’s stock price may fluctuate based on these factors and the upcoming earnings report, which will provide investors with a more detailed view of the company’s financial health and future prospects. The biopharmaceutical industry is closely monitored for such updates, as they can significantly affect company valuations and investor sentiment.
Investors and market observers are now looking ahead to Bristol-Myers Squibb’s forthcoming earnings announcement, which will offer further insights into the company’s performance and strategic direction, including the progress of Cobenfy and other key products in its pipeline. With a market capitalization of $119.2 billion and an attractive dividend yield of 4.14%, the company presents an interesting opportunity for investors. For deeper insights into BMY’s valuation and growth prospects, consider accessing the comprehensive research available on InvestingPro, which includes detailed analysis of over 1,400 US stocks.
In other recent news, Bristol Myers Squibb received a positive opinion from the European Medicines Agency’s Committee for Medicinal Products for Human Use for the use of Opdivo in combination with Yervoy for adult patients with advanced hepatocellular carcinoma. This development follows the successful results of the Phase 3 CheckMate -9DW trial. The U.S. FDA also accepted a supplemental Biologics License Application for this combination.
In a separate development, Bristol Myers Squibb has exercised an exclusive licensing option for Arsenal Biosciences Inc.’s AB-4000 series programs. This move aims to develop next-generation T cell therapies for solid tumors.
On the financial front, Truist Securities updated their financial model for Bristol-Myers Squibb, resulting in a raised price target from $62.00 to $65.00 while sustaining a Buy rating on the stock. Piper Sandler also named Bristol Myers Squibb in their report detailing their top biotechnology picks for 2025 within the Central Nervous System vertical. Finally, TD Cowen’s analysis indicates that Bristol-Myers Squibb has one of the least revenue exposures to China, Canada, and Mexico among large-cap pharma companies.
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