Bristol-Myers Squibb Co. [NYSE: BMY] closed the trading session at $52.34. The company report on March 15, 2024 at 6:27 PM that FDA Advisory Committee Votes in Favor of Bristol Myers Squibb’s and 2seventy bio’s Abecma for Triple-Class Exposed Multiple Myeloma in Earlier Lines of Therapy.
The supplemental Biologics License Application for Abecma in this indication remains under review with the FDA; Abecma has been approved in Japan and Switzerland and received a positive CHMP Opinion by the European Medicines Agency based on KarMMa-3.
Bristol Myers Squibb (NYSE: BMY) and 2seventy bio, Inc. (Nasdaq: TSVT) today announced that the U.S. Food and Drug Administration (FDA) Oncologic Drugs Advisory Committee (ODAC) voted positively (8-3) that Abecma (idecabtagene vicleucel) demonstrated a favorable benefit/risk profile for patients with triple-class exposed relapsed or refractory multiple myeloma based on results from the pivotal Phase 3 KarMMa-3 study, including the key secondary endpoint of overall survival. The recommendation from the ODAC will be considered by the FDA during its ongoing review of the supplemental Biologics License Application (sBLA) for Abecma for this patient population. The FDA has not yet assigned a new target action date for review of the sBLA.
The stocks have a year to date performance of 2.01 percent and weekly performance of -2.70 percent. The stock has been moved at -12.02 percent over the last six months. The stock has performed 7.06 percent around the most recent 30 days and changed 0.93 percent over the most recent 3-months.
If compared to the average trading volume of 15.66M shares, BMY reached to a volume of 123496835 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $55.02 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 2.73. 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.
Societe Generale have made an estimate for Bristol-Myers Squibb Co. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 11, 2024. While these analysts kept the previous recommendation, Redburn Atlantic dropped their target price from $77 to $54. The new note on the price target was released on February 06, 2024, representing the official price target for Bristol-Myers Squibb Co. stock. Previously, the target price had yet another drop from $68 to $60, while BofA Securities kept a Neutral rating on BMY stock. On November 15, 2023, analysts decreased their price target for BMY shares from 68 to 55.
The Average True Range (ATR) for Bristol-Myers Squibb Co. is set at 1.13, with the Price to Sales ratio for BMY stock in the period of the last 12 months amounting to 2.35. The Price to Book ratio for the last quarter was 3.59, with the Price to Cash per share for the same quarter was set at 6.10. Price to Free Cash Flow for BMY in the course of the last twelve months was 8.37 with Quick ratio for the last quarter at 1.31.
BMY stock trade performance evaluation
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 -2.70. With this latest performance, BMY shares gained by 7.06% in over the last four-week period, additionally sinking by -12.02% over the last 6 months – not to mention a drop of -22.44% 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 55.19, with the RSI for the last a single of trading hit 51.99, and the three-weeks RSI is set at 55.21 for Bristol-Myers Squibb Co. [BMY]. The present Moving Average for the last 50 days of trading for this stock 50.63, while it was recorded at 53.25 for the last single week of trading, and 56.17 for the last 200 days.
Bristol-Myers Squibb Co. [BMY]: An insightful look at the core fundamentals
Bristol-Myers Squibb Co.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.31 and a Current Ratio set at 1.43.
Earnings per share (EPS) analysis for Bristol-Myers Squibb Co. [BMY] stock
With the latest financial reports released by the company, Bristol-Myers Squibb Co. posted 2.05/share EPS, while the average EPS was predicted by analysts to be reported at 1.97/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 4.10%. 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 -2.80%.
Bristol-Myers Squibb Co. [BMY]: Institutional Ownership
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%.
