Bristol-Myers Squibb Company ($BMY) Stock Forecast: Down 5.5% Today

What is Bristol-Myers Squibb Company?

Bristol-Myers Squibb (NYSE: BMY) is a pharmaceutical company renowned for its innovative medicines across various therapeutic areas. The stock witnessed significant bearish movement in today's market.

Why is Bristol-Myers Squibb Company going down?

BMY stock is down 5.5% on Jul 30, 2024 13:51

• Analyst Carter Gould revised BMY's rating to Underweight while upholding the price target at $41, potentially impacting the downtrend.
• The mixed analyst sentiment and recent stock movements discussed by a financial expert may have intensified the selling pressure on BMY shares.
• The prevailing bearish sentiment surrounding BMY stands in contrast to the upbeat earnings season, hinting at specific company-specific factors causing the downturn.
• The adverse forecasts from prominent Wall Street analysts and the broader market movement affecting stocks like BMY, Abbive, and Tesla likely contributed to the downward pressure on Bristol-Myers Squibb's stock.

BMY Price Chart

BMY News

Is Bristol-Myers Squibb's Stock Rally Justified? Bull Vs. Bear Analysts On Q2 Earnings - Bristol-Myers Squibb ( NYSE:BMY )

Bristol-Myers Squibb Co BMY on Friday reported upbeat second-quarter results. The report came amid an exciting earnings season. Here are some key analyst takeaways. Analyst Carter Gould downgraded the rating to Underweight, while maintaining the price target at $41.

https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40016597/is-bristol-myers-squibbs-stock-rally-justified-bull-vs-bear-analysts-on-q2-earnings

Monday''s rapid fire: 3M, Bristol Myers Squibb, McDonald''s, On Semiconductor and Colgate-Palmolive

CNBC''s Jim Cramer on Monday discussed notable stock moves in recent days, including the response to 3M''s earnings and McDonald''s quarterly results.

https://www.cnbc.com/video/2024/07/29/mondays-rapid-fire-3m-bristol-myers-squibb-mcdonalds-on-semiconductor-and-colgate-palmolive.html

Company News for Jul 29, 2024

Companies in The News Are: NSC, CHTR, CL, ...

https://www.zacks.com/stock/news/2310819/company-news-for-jul-29-2024

This Bristol-Myers Squibb Analyst Turns Bearish; Here Are Top 5 Downgrades For Monday - Bristol-Myers Squibb ( NYSE:BMY )

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.

https://www.benzinga.com/news/24/07/40009777/this-bristol-myers-squibb-analyst-turns-bearish-here-are-top-5-downgrades-for-monday

Stocks on the move: Bristol Myers, Abbive, and Tesla

The Investment Committee discuss some of their stocks that are on the move today

https://www.cnbc.com/video/2024/07/26/stocks-on-the-move-bristol-myers-abbive-and-tesla.html

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Bristol-Myers Squibb Company Price History

26.03.2024 - BMY Stock was down 5.4%

• BMY stock experienced a bearish trend influenced by several factors:
• The company revealed a narrower-than-expected loss in Q1; however, decreasing sales of key products like Opdivo and Revlimid led to a negative impact on investor sentiment.
• Despite a favorable opinion from the CHMP for Opdivo in combination with cisplatin and gemcitabine for urothelial carcinoma, market response might have been influenced by broader industry trends and the company's reduced stock target.
• The overall market sentiment was bearish today, with major US indices closing lower for the first time in three days, driven by concerns over inflation and company performance, including Bristol Myers Squibb's disappointing earnings.

26.03.2024 - BMY Stock was down 5.4%

• Bristol-Myers Squibb recorded a loss per share in Q1 that was narrower than anticipated, but this outcome was influenced by increased expenses linked to recent acquisitions and rising operational costs.
• The company exceeded revenue projections due to strong sales of specific drugs, yet a decrease in the sales of key products such as Opdivo and Revlimid dampened investor confidence.
• Analysts reduced the target price for the company, and the downward adjustment of Bristol-Myers Squibb's 2024 adjusted EPS guidance contributed to the negative outlook on the stock.
• The stock's decline was likely influenced by the general market downturn, especially in the healthcare sector, and concerns over inflation as highlighted in the US GDP report.

17.06.2024 - BMY Stock was up 6.5%

• Despite facing challenges and a year-to-date loss of 20.5%, Bristol-Myers Squibb saw a significant bullish surge today.
• Unusual options activity, including both bullish and bearish trades, suggests mixed investor sentiments.
• The decision of an individual to sell Bristol Myers and purchase more Abbvie could have influenced market perception and spurred increased buying interest in BMY shares.
• Overall, the uptick in bullish momentum could be attributed to a mix of strategic trading decisions, market dynamics, and potential positive developments in the company.

17.06.2024 - BMY Stock was up 5.8%

• The bullish movement in BMY could be attributed to the overall positive sentiment in the biotech sector, discussing the potential for high returns in low-cap biotech stocks. Investors may be optimistic about Bristol Myers Squibb's pipeline and potential for successful clinical trials.
• Mentioning undervalued stocks ready for a breakout could have also influenced the market movement as investors seek out companies with strong fundamentals like Bristol Myers Squibb that may be poised for a comeback.
• The anticipation of positive news related to Bristol Myers Squibb's drug developments or potential buyout opportunities could have further fueled the bullish movement in the stock.

19.06.2024 - BMY Stock was down 5.1%

• The bearish movement in Bristol-Myers Squibb's stock could be attributed to the unusual options activity observed, with a majority of traders showing bearish tendencies and financial giants making conspicuous bearish moves.
• The negative sentiment towards Bristol-Myers Squibb could also be influenced by concerns advising investors to steer clear of the stock due to challenges faced by its top drugs.
• Additionally, the selling of Bristol Myers by Rob Sechan, CEO of NewEdge Wealth, might have added to the downward pressure on the stock.
• Despite the bearish market movement, it's essential for investors to closely monitor any developments in the healthcare sector to gauge potential future impacts on Bristol-Myers Squibb's stock performance.

19.06.2024 - BMY Stock was down 5.4%

• Bristol Myers Squibb received validation from the European Medicines Agency for its application of Opdivo plus Yervoy for the treatment of hepatocellular carcinoma (HCC), showing advancements in its treatment offerings.
• Despite positive news on the approval process, the stock price of BMY declined by -1.76%, indicating a bearish sentiment among investors.
• The options market also reflected a bearish approach towards Bristol-Myers Squibb, suggesting that market players are cautious about the company's future performance.
• The combination of positive regulatory news and bearish investor sentiment might have contributed to the bearish movement in BMY's stock price today.

26.06.2024 - BMY Stock was up 10.3%

• Bristol Myers Squibb (BMY) delivered impressive Q2 results, surpassing expectations for both earnings per share and revenue, underscoring robust financial performance.
• The optimistic earnings call transcript and the company's ability to outstrip analyst projections likely boosted investor confidence, contributing to the upward movement.
• The general positive market sentiment, with U.S. stocks exhibiting gains and major indices like the Dow, NASDAQ, and S&P 500 showing positive trends, provided a supportive environment for BMY's upward trajectory.
• Amidst dynamic stock movements, the company's strong performance in the pharmaceutical sector solidified its position as a leading performer, attracting investor attention and propelling the stock price upwards.

26.06.2024 - BMY Stock was up 8.1%

• Bristol-Myers Squibb reported higher revenues and net profit for the second quarter of 2024, surpassing estimates and showing a significant increase year-over-year.
• The stock's positive performance can be attributed to the company's strong second-quarter results, particularly driven by the Growth Portfolio and the success of Eliquis.
• Additionally, Bristol-Myers Squibb's late-stage trial win further boosted investor confidence and contributed to the bullish movement in the stock.
• The overall market sentiment, with US equity futures rebounding and tech names showing gains, also provided a favorable environment for Bristol-Myers Squibb's stock to thrive amidst positive macroeconomic factors.

26.06.2024 - BMY Stock was up 8.3%

• Bristol-Myers Squibb (BMY) exceeded both earnings per share (EPS) and revenue expectations for the second quarter of 2024, showcasing strong financial performance.
• The company's positive Q2 results, including higher revenue and profit, along with an increase in full-year guidance, contributed to the bullish movement in the stock.
• Market sentiment was further boosted by the company's ability to outperform analyst estimates, leading to increased investor confidence and driving the stock price higher.
• Overall, Bristol-Myers Squibb's solid financial performance and optimistic outlook on rising drug sales propelled the stock to a bullish trajectory, attracting investors seeking growth opportunities in the biopharmaceutical sector.

26.06.2024 - BMY Stock was up 8.6%

• Bristol Myers Squibb posted second-quarter revenues that surpassed expectations, driven by the Growth Portfolio and Eliquis, leading to increased investor confidence and a bullish movement in the stock.
• The company raised its 2024 non-GAAP guidance, indicating a positive outlook for future earnings and revenue, which likely contributed to the bullish sentiment among investors.
• Despite a decrease in Q2 profit compared to last year, Bristol Myers Squibb managed to beat Street estimates, showcasing resilience and efficiency in its operations, further boosting investor optimism.
• The overall rebound in US equity futures and positive performance of mega-cap tech companies like NVDA, AMZN, and AAPL might have also contributed to the bullish market movement, creating a favorable trading environment for stocks like BMY.

24.06.2024 - BMY Stock was up 5.0%

• Despite concerns about potential challenges ahead of the second-quarter results, investors appear to have shown confidence in BMY today.
• The bullish movement could be linked to the European Medicines Agency (EMA) commencing the review process for Bristol Myers' application for Opdivo Plus Yervoy for advanced hepatocellular carcinoma, signaling potential positive developments in the company's drug approval process.
• Additionally, the overall positive sentiment towards pharmaceutical companies, with major players pursuing deals in China to fortify their drug pipelines, might have influenced the bullish movement in BMY.
• The focus on defensive stocks due to economic uncertainties and policy concerns could have also driven investors to seek stability in pharmaceutical companies like Bristol Myers, recognized for their resilience during challenging economic conditions.

30.06.2024 - BMY Stock was down 5.5%

• Analyst Carter Gould revised BMY's rating to Underweight while upholding the price target at $41, potentially impacting the downtrend.
• The mixed analyst sentiment and recent stock movements discussed by a financial expert may have intensified the selling pressure on BMY shares.
• The prevailing bearish sentiment surrounding BMY stands in contrast to the upbeat earnings season, hinting at specific company-specific factors causing the downturn.
• The adverse forecasts from prominent Wall Street analysts and the broader market movement affecting stocks like BMY, Abbive, and Tesla likely contributed to the downward pressure on Bristol-Myers Squibb's stock.