Bristol-Myers Squibb Company [BMY] Stock trading around $75.17 per share: What’s Next?


Bristol-Myers Squibb Company [NYSE: BMY] gained 0.13% on the last trading session, reaching $75.17 price per share at the time. The company report on June 3, 2022 that Bristol Myers Squibb Withdraws Supplemental Biologics License Application (sBLA) for Reblozyl® (luspatercept-aamt) for Non-transfusion Dependent (NTD) Beta Thalassemia.

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Bristol Myers Squibb (NYSE: BMY) today announced that the company has withdrawn a supplemental biologics license application (sBLA) for Reblozyl® (luspatercept-aamt) for the treatment of anemia in adults with non-transfusion dependent (NTD) beta thalassemia. The Company could not appropriately address the U.S. Food and Drug Administration’s questions about the benefit-risk profile of Reblozyl in this patient population based on the current dataset from the Phase 2 BEYOND trial.

“While we will not pursue this indication in the U.S., we’re continuing to evaluate Reblozyl in a broad clinical development program to bring this important therapeutic option to more patients living with the burden of anemia,” said Noah Berkowitz, M.D., Ph.D., senior vice president, Hematology Development, Bristol Myers Squibb.

Bristol-Myers Squibb Company represents 2.15 billion in outstanding shares, while the company has a total market value of $159.83 billion with the latest information. BMY stock price has been found in the range of $74.30 to $75.315.

If compared to the average trading volume of 15.42M shares, BMY reached a trading volume of 12182668 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $80.44 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 2.20. 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.

Raymond James have made an estimate for Bristol-Myers Squibb Company shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 03, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Underweight. The new note on the price target was released on April 06, 2022, representing the official price target for Bristol-Myers Squibb Company stock. Previously, the target price had yet another raise to $72, while Goldman analysts kept a Buy rating on BMY stock.

The Average True Range (ATR) for Bristol-Myers Squibb Company is set at 1.61, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 3.40. The Price to Book ratio for the last quarter was 5.11, with the Price to Cash per share for the same quarter was set at 7.04. Price to Free Cash Flow for BMY in the course of the last twelve months was 14.98 with Quick ratio for the last quarter at 1.20.

Trading performance analysis for BMY stock

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 -3.12. With this latest performance, BMY shares dropped by -1.49% in over the last four-week period, additionally plugging by 35.66% over the last 6 months – not to mention a rise of 15.75% 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 44.54, with the RSI for the last a single of trading hit 39.36, and the three-weeks RSI is set at 48.53 for Bristol-Myers Squibb Company [BMY]. The present Moving Average for the last 50 days of trading for this stock 75.84, while it was recorded at 75.36 for the last single week of trading, and 65.93 for the last 200 days.

Bristol-Myers Squibb Company [BMY]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bristol-Myers Squibb Company [BMY] shares currently have an operating margin of +20.57 and a Gross Margin at +57.69. Bristol-Myers Squibb Company’s Net Margin is presently recorded at +15.08.

Return on Equity for this stock inclined to 18.96, with Return on Assets sitting at 6.14.

Bristol-Myers Squibb Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.30.

Bristol-Myers Squibb Company [BMY]: An earnings per share (EPS) analysis

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 4.43%.

An analysis of insider ownership at Bristol-Myers Squibb Company [BMY]

There are presently around $123,077 million, or 79.30% of BMY stock, in the hands of institutional investors. The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 198,490,084, which is approximately -0.673% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 167,240,428 shares of the stock with an approximate value of $12.57 billion in BMY stocks shares; and STATE STREET CORP, currently with $7.1 billion in BMY stock with ownership of nearly -0.227% of the company’s market capitalization.

1,199 institutional holders increased their position in Bristol-Myers Squibb Company [NYSE:BMY] by around 124,068,626 shares. Additionally, 1,132 investors decreased positions by around 90,694,864 shares, while 312 investors held positions by with 1,422,545,969 shares. The mentioned changes placed institutional holdings at 1,637,309,459 shares, according to the latest SEC report filing. BMY stock had 203 new institutional investments in for a total of 31,082,119 shares, while 116 institutional investors sold positions of 11,548,733 shares during the same period.