Bristol-Myers Squibb Company [NYSE: BMY] price plunged by -0.41 percent to reach at -$0.28. The company report on July 30, 2021 that Bristol Myers Squibb Receives European Commission Approval for Opdivo (nivolumab) as Adjuvant Treatment for Esophageal or Gastroesophageal Junction Cancer Patients with Residual Pathologic Disease Following Chemoradiotherapy.
Approval is based on Phase 3 results from the CheckMate -577 trial.
Opdivo is now the first and only adjuvant therapy approved in this setting in the European Union.
A sum of 10003103 shares traded at recent session while its average daily volume was at 9.51M shares. Bristol-Myers Squibb Company shares reached a high of $68.515 and dropped to a low of $67.49 until finishing in the latest session at $67.87.
The one-year BMY stock forecast points to a potential upside of 9.95. The average equity rating for BMY stock is currently 1.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Bristol-Myers Squibb Company [BMY]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $75.37 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BMY stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Truist have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 27, 2021. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $70 to $62. The new note on the price target was released on April 30, 2021, representing the official price target for Bristol-Myers Squibb Company stock.
The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 0.99, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.41. The Price to Book ratio for the last quarter was 4.11, with the Price to Cash per share for the same quarter was set at 6.28. Price to Free Cash Flow for BMY in the course of the last twelve months was 20.35 with Quick ratio for the last quarter at 1.40.
BMY Stock Performance Analysis:
Bristol-Myers Squibb Company [BMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.69. With this latest performance, BMY shares gained by 1.57% in over the last four-week period, additionally plugging by 10.48% over the last 6 months – not to mention a rise of 15.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BMY stock in for the last two-week period is set at 54.75, with the RSI for the last a single of trading hit 53.87, and the three-weeks RSI is set at 55.06 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 66.68, while it was recorded at 67.99 for the last single week of trading, and 63.56 for the last 200 days.
Insight into Bristol-Myers Squibb Company Fundamentals:
Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.50.
BMY Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BMY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Bristol-Myers Squibb Company go to 7.50%.
Bristol-Myers Squibb Company [BMY] Insider Position Details
There are presently around $110,543 million, or 75.00% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 196,665,309, which is approximately -1.342% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 176,410,048 shares of the stock with an approximate value of $11.97 billion in BMY stocks shares; and STATE STREET CORP, currently with $6.17 billion in BMY stock with ownership of nearly -3.414% of the company’s market capitalization.
1,133 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 70,016,372 shares. Additionally, 1,060 investors decreased positions by around 109,142,461 shares, while 295 investors held positions by with 1,449,583,469 shares. The mentioned changes placed institutional holdings at 1,628,742,302 shares, according to the latest SEC report filing. BMY stock had 140 new institutional investments in for a total of 5,260,238 shares, while 112 institutional investors sold positions of 7,958,298 shares during the same period.