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What Analysts Think about Bristol-Myers Squibb

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Dec. 4 2020, Updated 10:53 a.m. ET

Analyst recommendations

Based on the recommendations of 28 brokerage firms, a recent Bloomberg survey reported that 42.3% of analysts gave Bristol-Myers Squibb (BMY) a “buy” recommendation, while 50.0% gave the stock a “hold” recommendation. Only 7.7% of the surveyed analysts rated the company as a “sell.”

The consensus 12-month target price for the stock is $68.81, which represents a rise of 23.6% over the stock’s last price of $55.66 on September 09, 2016.

If Bristol-Myers Squibb manages to surpass this price target, it could have a positive impact on the share prices of the Health Care Select Sector SPDR Fund (XLV). Bristol-Myers Squibb makes up about 3.4% of XLV’s total portfolio holdings.

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Opdivo

Meanwhile, Bristol-Myers Squibb’s immuno-oncology drug, Opdivo, which is currently approved in 54 markets across the world, continued to report a strong performance in 1H16. Physicians have been quick to adopt this drug in multiple markets due to its superior efficacy and safety profile. The drug currently accounts for approximately 80% of the total programmed cell death protein 1 (or PD-1) inhibitor market in the US as well as other major markets.

Opdivo is also expected to drive Bristol-Myers Squibb’s share price growth in future quarters.

Peer comparisons

Based on Bloomberg survey of 28 broker firms, Eli Lily (LLY) received a “buy” recommendation from 76.9% of firms and “hold” recommendation from 23.1% of firms. None of the firms rated Eli Lily a “sell.”

Among the 27 brokerage firms surveyed by Bloomberg for Merck (MRK), 45.8% of firms gave it a “buy” recommendation, while 54.2% gave it a “hold” recommendation.

Based on the recommendations of 27 firms in the Bloomberg survey, Pfizer (PFE) received “buy” recommendations from 60.0% of firms and “hold” recommendations from 40.0% of firms.

In the next part, we’ll explore growth prospects for Bristol-Myers Squibb’s Opdivo in 2016.

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