Cantor Fitzgerald Raises Bristol-Myers Squibb (NYSE:BMY) Price Target to $55.00

Bristol-Myers Squibb (NYSE:BMY) had its price target hoisted by stock analysts at Cantor Fitzgerald from $50.00 to $55.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 8.39% from the company’s current price.

Several other analysts have also weighed in on the company. Leerink Partnrs raised Bristol-Myers Squibb from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, November 12th. TD Cowen upped their target price on Bristol-Myers Squibb from $53.00 to $59.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Sanford C. Bernstein started coverage on shares of Bristol-Myers Squibb in a research report on Thursday, October 17th. They issued a “market perform” rating and a $56.00 price target for the company. Bank of America reaffirmed a “neutral” rating and set a $63.00 target price on shares of Bristol-Myers Squibb in a report on Tuesday, December 10th. Finally, Morgan Stanley increased their price objective on shares of Bristol-Myers Squibb from $36.00 to $39.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $56.93.

Bristol-Myers Squibb Stock Performance

BMY opened at $60.03 on Tuesday. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.09 and a current ratio of 1.24. Bristol-Myers Squibb has a 52-week low of $39.35 and a 52-week high of $61.10. The firm has a market cap of $121.76 billion, a P/E ratio of -16.72, a price-to-earnings-growth ratio of 2.10 and a beta of 0.45. The business’s fifty day moving average is $57.60 and its 200-day moving average is $53.34.

Hedge Funds Weigh In On Bristol-Myers Squibb

Several institutional investors and hedge funds have recently modified their holdings of the stock. Algert Global LLC bought a new stake in shares of Bristol-Myers Squibb in the second quarter worth approximately $328,000. AMF Tjanstepension AB boosted its holdings in Bristol-Myers Squibb by 6.9% in the third quarter. AMF Tjanstepension AB now owns 610,181 shares of the biopharmaceutical company’s stock worth $31,618,000 after purchasing an additional 39,419 shares during the last quarter. Czech National Bank grew its position in Bristol-Myers Squibb by 6.9% in the 3rd quarter. Czech National Bank now owns 413,002 shares of the biopharmaceutical company’s stock worth $21,369,000 after purchasing an additional 26,718 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Bristol-Myers Squibb by 61.3% during the 3rd quarter. GAMMA Investing LLC now owns 27,386 shares of the biopharmaceutical company’s stock valued at $1,417,000 after buying an additional 10,410 shares during the period. Finally, SignalPoint Asset Management LLC purchased a new position in shares of Bristol-Myers Squibb in the 3rd quarter worth $201,000. 76.41% of the stock is currently owned by institutional investors.

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.