Morgan Stanley Raises Bristol-Myers Squibb (NYSE:BMY) Price Target to $39.00

Bristol-Myers Squibb (NYSE:BMY) had its target price boosted by equities researchers at Morgan Stanley from $36.00 to $39.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the biopharmaceutical company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 34.80% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Bristol-Myers Squibb in a research note on Thursday, October 17th. They set a “market perform” rating and a $56.00 target price for the company. Leerink Partners upgraded shares of Bristol-Myers Squibb from a “market perform” rating to an “outperform” rating and increased their target price for the company from $55.00 to $73.00 in a research note on Tuesday. TD Cowen lifted their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Barclays upped their price target on Bristol-Myers Squibb from $42.00 to $43.00 and gave the company an “underweight” rating in a report on Monday, October 7th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $50.00 target price on shares of Bristol-Myers Squibb in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.43.

Bristol-Myers Squibb Stock Up 10.5 %

BMY stock opened at $59.82 on Tuesday. The stock has a market capitalization of $121.33 billion, a price-to-earnings ratio of -16.66, a price-to-earnings-growth ratio of 20.09 and a beta of 0.44. The company has a 50-day moving average of $52.07 and a two-hundred day moving average of $46.89. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.08. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.24 and a quick ratio of 1.09.

Bristol-Myers Squibb (NYSE:BMY) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.31. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. The firm had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.26 billion. During the same quarter in the prior year, the company earned $2.00 EPS. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Bristol-Myers Squibb will post 0.92 EPS for the current year.

Insider Activity

In other Bristol-Myers Squibb news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares in the company, valued at approximately $654,091.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Phil M. Holzer sold 700 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $55.62, for a total value of $38,934.00. Following the completion of the sale, the senior vice president now owns 11,760 shares of the company’s stock, valued at $654,091.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Samit Hirawat acquired 1,830 shares of Bristol-Myers Squibb stock in a transaction on Friday, November 1st. The shares were purchased at an average cost of $54.67 per share, for a total transaction of $100,046.10. Following the acquisition, the executive vice president now owns 62,109 shares in the company, valued at approximately $3,395,499.03. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.09% of the stock is currently owned by corporate insiders.

Institutional Trading of Bristol-Myers Squibb

Several institutional investors and hedge funds have recently added to or reduced their stakes in BMY. Landscape Capital Management L.L.C. acquired a new stake in shares of Bristol-Myers Squibb during the 3rd quarter worth approximately $319,000. Pzena Investment Management LLC boosted its stake in Bristol-Myers Squibb by 0.5% in the third quarter. Pzena Investment Management LLC now owns 14,201,746 shares of the biopharmaceutical company’s stock valued at $734,798,000 after acquiring an additional 67,409 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in Bristol-Myers Squibb during the 3rd quarter worth $29,000. Portfolio Design Labs LLC bought a new stake in shares of Bristol-Myers Squibb during the 3rd quarter valued at $1,951,000. Finally, First Horizon Advisors Inc. lifted its stake in shares of Bristol-Myers Squibb by 281.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 395,386 shares of the biopharmaceutical company’s stock valued at $20,457,000 after purchasing an additional 291,613 shares during the period. 76.41% of the stock is owned by institutional investors.

Bristol-Myers Squibb Company Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.