Citi maintains neutral rating on Bristol-Myers Squibb stock

On Monday, Citi analysts reiterated a Neutral rating on Bristol-Myers Squibb Co. (NYSE: NYSE:BMY) stock, maintaining their price target of $51.00, while the stock currently trades at $47.97. According to InvestingPro data, analyst targets range from $36 to $68, with the company showing GREAT financial health. This decision follows the latest updates from the American Society of Clinical Oncology (ASCO) 2025 meeting.

Bristol-Myers Squibb presented two phase 1 updates for its drug iza-bren, an EGFRxHER3 antibody-drug conjugate (ADC), targeting patients with small cell lung cancer (SCLC) and non-small cell lung cancer (NSCLC) with diverse genomic alterations. The results demonstrated promising efficacy, with an objective response rate (ORR) of 55% in SCLC and 45% in NSCLC.

The findings also indicated a manageable safety profile for iza-bren, with additional subgroups showing even higher response rates. Citi analysts noted that these early results support further exploration of ADCs in cancer treatment.

The ASCO 2025 meeting continues to provide updates on oncology advancements, with Bristol-Myers Squibb’s iza-bren being a focal point for its potential in treating certain lung cancers. With revenue of $47.6 billion in the last twelve months and a significant 5.1% dividend yield, BMY maintains a strong position in the pharmaceutical sector. Citi analysts are closely monitoring these developments as they evaluate their coverage in the oncology sector.

In other recent news, Bristol Myers Squibb has received European Commission approval for a new subcutaneous formulation of its cancer drug, Opdivo. This development offers a more efficient administration method for patients, providing an alternative to the traditional intravenous form. In terms of financial performance, BMO Capital Markets maintained a Market Perform rating on Bristol Myers Squibb, with a price target of $53. The firm projects higher revenue for its schizophrenia drug, Cobenfy, in the second quarter of 2025 compared to current consensus estimates. Meanwhile, BofA Securities has adjusted its price target for Bristol Myers Squibb to $56, maintaining a Neutral rating due to anticipated earnings pressures from generic competition. The company has also announced the appointment of Cari Gallman as the new Executive Vice President, General Counsel, and Chief Policy Officer, following the retirement of Sandra Leung. These recent developments reflect Bristol Myers Squibb’s ongoing efforts to adapt and innovate in a competitive market.

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