Bristol-Myers Squibb (NYSE:BMY) Price Target Raised to $62.00

Bristol-Myers Squibb (NYSE:BMY) had its price target boosted by equities researchers at Wells Fargo & Company from $60.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biopharmaceutical company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 8.64% from the company’s current price.

Several other research analysts have also recently issued reports on BMY. Daiwa America upgraded shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 13th. Bank of America restated a “neutral” rating and issued a $63.00 price objective on shares of Bristol-Myers Squibb in a research report on Tuesday, December 10th. Wolfe Research began coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Leerink Partnrs raised shares of Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Cantor Fitzgerald increased their price objective on shares of Bristol-Myers Squibb from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $57.86.

Bristol-Myers Squibb Stock Down 0.6 %

BMY opened at $57.07 on Friday. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $61.10. The company has a quick ratio of 1.09, a current ratio of 1.24 and a debt-to-equity ratio of 2.83. The company’s 50-day moving average price is $57.61 and its two-hundred day moving average price is $53.65. The stock has a market cap of $115.74 billion, a price-to-earnings ratio of -15.94, a PEG ratio of 2.10 and a beta of 0.45.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings results on Thursday, February 6th. The biopharmaceutical company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.20. Bristol-Myers Squibb had a positive return on equity of 11.94% and a negative net margin of 15.30%. As a group, equities analysts expect that Bristol-Myers Squibb will post 0.92 earnings per share for the current year.

Institutional Investors Weigh In On Bristol-Myers Squibb

A number of hedge funds have recently modified their holdings of the company. Wealthspire Advisors LLC boosted its position in shares of Bristol-Myers Squibb by 0.6% during the 4th quarter. Wealthspire Advisors LLC now owns 28,679 shares of the biopharmaceutical company’s stock worth $1,622,000 after purchasing an additional 170 shares during the period. Edmp Inc. grew its position in shares of Bristol-Myers Squibb by 0.4% during the fourth quarter. Edmp Inc. now owns 41,599 shares of the biopharmaceutical company’s stock worth $2,353,000 after buying an additional 171 shares in the last quarter. Trust Point Inc. increased its stake in shares of Bristol-Myers Squibb by 1.9% during the fourth quarter. Trust Point Inc. now owns 9,423 shares of the biopharmaceutical company’s stock worth $533,000 after buying an additional 172 shares during the period. Bedel Financial Consulting Inc. raised its holdings in Bristol-Myers Squibb by 3.2% in the fourth quarter. Bedel Financial Consulting Inc. now owns 5,690 shares of the biopharmaceutical company’s stock valued at $340,000 after acquiring an additional 175 shares in the last quarter. Finally, Horst & Graben Wealth Management LLC lifted its stake in Bristol-Myers Squibb by 2.4% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 7,538 shares of the biopharmaceutical company’s stock worth $426,000 after acquiring an additional 179 shares during the last quarter. Hedge funds and other institutional investors own 76.41% of the company’s stock.

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.