Bristol-Myers Squibb Co. [BMY] moved up 0.18: Why It’s Important

Bristol-Myers Squibb Co. [NYSE: BMY] gained 0.18% on the last trading session, reaching $49.70 price per share at the time. The company report on January 27, 2024 at 10:00 AM that Subcutaneous Nivolumab (nivolumab and hyaluronidase) Shows Noninferiority Compared to Intravenous Opdivo (nivolumab) in Advanced or Metastatic Clear Cell Renal Cell Carcinoma in CheckMate -67T Trial.

CheckMate -67T is the first Phase 3 trial of the subcutaneous formulation of Opdivo to evaluate and demonstrate noninferior pharmacokinetics, efficacy and safety vs. its intravenous formulation.

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Subcutaneous nivolumab demonstrated noninferior pharmacokinetics (co-primary endpoints) and objective response rate (key powered secondary endpoint) compared to intravenous Opdivo.

If compared to the average trading volume of 15.62M shares, BMY reached a trading volume of 10421709 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 Co. [BMY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BMY shares is $60.10 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 2.52. 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.

BofA Securities have made an estimate for Bristol-Myers Squibb Co. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 03, 2024.

The Average True Range (ATR) for Bristol-Myers Squibb Co. is set at 0.95, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 2.25. The Price to Book ratio for the last quarter was 3.49, with the Price to Cash per share for the same quarter was set at 3.80. Price to Free Cash Flow for BMY in the course of the last twelve months was 8.65 with Quick ratio for the last quarter at 1.07.

Trading performance analysis for BMY stock

Bristol-Myers Squibb Co. [BMY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.82. With this latest performance, BMY shares dropped by -3.40% in over the last four-week period, additionally sinking by -18.16% over the last 6 months – not to mention a drop of -32.08% 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 41.03, with the RSI for the last a single of trading hit 38.04, and the three-weeks RSI is set at 42.43 for Bristol-Myers Squibb Co. [BMY]. The present Moving Average for the last 50 days of trading for this stock 50.58, while it was recorded at 49.85 for the last single week of trading, and 59.09 for the last 200 days.

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

Bristol-Myers Squibb Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.07 and a Current Ratio set at 1.18.

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

With the latest financial reports released by the company, Bristol-Myers Squibb Co. posted 1.82/share EPS, while the average EPS was predicted by analysts to be reported at 1.72/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.80%. 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 Co. go to -0.41%.

An analysis of Institutional ownership at Bristol-Myers Squibb Co. [BMY]

The top three institutional holders of BMY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BMY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BMY stock with ownership which is approximately 5.8325%.