TD Cowen Increases Bristol-Myers Squibb (NYSE:BMY) Price Target to $59.00

Bristol-Myers Squibb (NYSE:BMY) had its price target lifted by stock analysts at TD Cowen from $53.00 to $59.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. TD Cowen’s price target indicates a potential upside of 12.42% from the company’s previous close.

Other analysts also recently issued research reports about the company. BMO Capital Markets reiterated a “market perform” rating and issued a $48.00 price objective on shares of Bristol-Myers Squibb in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on Bristol-Myers Squibb from $53.00 to $45.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Jefferies Financial Group increased their target price on Bristol-Myers Squibb from $49.00 to $51.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Cantor Fitzgerald reissued a “neutral” rating and issued a $50.00 target price on shares of Bristol-Myers Squibb in a report on Monday, September 16th. Finally, Barclays increased their target price on Bristol-Myers Squibb from $41.00 to $42.00 and gave the stock an “underweight” rating in a report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Bristol-Myers Squibb has a consensus rating of “Hold” and a consensus price target of $53.43.

Bristol-Myers Squibb Price Performance

Shares of NYSE:BMY opened at $52.48 on Monday. The business has a 50 day moving average price of $49.43 and a 200 day moving average price of $46.34. The company has a quick ratio of 1.02, a current ratio of 1.16 and a debt-to-equity ratio of 2.86. Bristol-Myers Squibb has a twelve month low of $39.35 and a twelve month high of $57.65. The company has a market cap of $106.38 billion, a price-to-earnings ratio of -16.93, a PEG ratio of 12.96 and a beta of 0.46.

Bristol-Myers Squibb (NYSE:BMY) last announced its quarterly earnings data on Friday, July 26th. The biopharmaceutical company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.43. Bristol-Myers Squibb had a positive return on equity of 12.51% and a negative net margin of 14.06%. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $11.54 billion. During the same quarter last year, the company earned $1.75 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. Research analysts predict that Bristol-Myers Squibb will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Bristol-Myers Squibb

Hedge funds and other institutional investors have recently bought and sold shares of the business. ESL Trust Services LLC acquired a new stake in Bristol-Myers Squibb during the 1st quarter valued at $27,000. LGT Financial Advisors LLC increased its stake in shares of Bristol-Myers Squibb by 42.7% in the 2nd quarter. LGT Financial Advisors LLC now owns 759 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 227 shares during the period. Fairman Group LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $42,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Bristol-Myers Squibb in the 1st quarter valued at $47,000. Finally, Accent Capital Management LLC acquired a new stake in shares of Bristol-Myers Squibb in the 4th quarter valued at $46,000. 76.41% of the stock is owned by institutional investors and hedge funds.

About Bristol-Myers Squibb

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.