Bristol-Myers Squibb Inc. (NYSE:BMY) shares saw are trading higher Monday. Jefferies analyst, Akash Tewari, raised his rating on the stock from Hold to Buy and increased the price target from $63 to $70. Here's what you need to know.
What To Know: The analyst's upgrade comes after increased confidence in several aspects of Bristol-Myers Squibb's business, particularly its pipeline and upcoming product launches. Tewari highlighted three key reasons for the upgrade.
Tewari believes Cobenfy (KarXT), a treatment for schizophrenia and bipolar disorder, is on track to become a $10 billion-plus drug. He is bullish on the drug's launch in schizophrenia, as well as its potential in treating Alzheimer's psychosis and bipolar disorder. He expects strong sales growth in the coming years, with a 2025 forecast of $215 million, significantly above consensus estimates.
The analyst expressed confidence that Milvexian, a drug in development for atrial fibrillation, could achieve positive results in non-inferiority trials, further supporting the company's growth prospects. He also noted improved visibility on Bristol-Myers Squibb's financials, driven by positive momentum from recent product launches and growing clarity on cost control measures. As a result, he raised his earnings-per-share projections, expecting the company to reach EPS floor of $6 in the near future.
Additionally, the company's ongoing collaboration with Immatics N.V. remains intact, despite the recent termination of other partnership agreements, including the allogeneic and opt-in collaborations with BMS. While this move reflects ongoing portfolio prioritization efforts, the termination does not require Bristol-Myers Squibb to refund any of the upfront payments.
With a new price target of $70, Jefferies sees upside potential in Bristol-Myers Squibb's stock.
BMY Price Action: Bristol-Myers Squibb shares were up 0.14% at $55.86 at the time of writing, according to Benzinga Pro.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
The analyst expressed confidence that Milvexian, a drug in development for atrial fibrillation, could achieve positive results in non-inferiority trials, further supporting the company's growth prospects. He also noted improved visibility on Bristol-Myers Squibb's financials, driven by positive momentum from recent product launches and growing clarity on cost control measures. As a result, he raised his earnings-per-share projections, expecting the company to reach EPS floor of $6 in the near future.
アナリストは、心房細動の治療薬であるミルベキシアンが非劣性試験でポジティブな結果を達成できるという信懇智能を表明し、さらなる会社の成長の見通しを支持すると述べました。彼はまた、最近の製品の発売からのポジティブな勢いとコスト管理の明確性の向上により、ブリストルマイヤーズ スクイブの財務に関する見通しが改善したと指摘しました。その結果、彼は1株当たり利益の予測を引き上げ、近い将来にEPSのフロアを6ドルに達すると期待しています。