The consolidated fair value estimate for Bristol-Myers Squibb has shifted from US$66.71 to US$65.25, which frames the latest round of price target debates. Recent research highlights how views on ALOFT-IPF data, the broader pipeline and potential corporate actions are feeding into very different target ranges, from the US$50s and low US$60s up to the US$70s and US$80s. As you read on, you will see how to track this evolving narrative and what to watch as new data and opinions emerge.
Stay updated as the Fair Value for Bristol-Myers Squibb shifts by adding it to your watchlist or portfolio . Alternatively, explore our Community to discover new perspectives on Bristol-Myers Squibb.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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Several firms, including Piper Sandler, Jefferies, BofA, JPMorgan, Guggenheim, Citi and Argus, have set Bristol-Myers Squibb targets from the low US$70s up to US$82, reflecting constructive views on the company even after some recent trims.
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Jefferies and William Blair point to the ALOFT-IPF admilparant data as supportive of a meaningful idiopathic pulmonary fibrosis opportunity, with Jefferies lifting its admilparant peak sales estimate and William Blair describing a potential blockbuster market.
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Piper Sandler and Guggenheim highlight key late stage assets such as milvexian, Cobenfy and admilparant, and see scope for value tied to the broader pipeline and potential business development activity.
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Argus cites improving margins, growth products and new launches for Bristol-Myers Squibb, and also flags external M&A interest headlines as part of its constructive stance.
🐻 Bearish Takeaways
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Leerink, Morgan Stanley and Cantor Fitzgerald sit at the cautious end of the range, with targets in the low US$40s to high US$50s and concerns around Bristol-Myers Squibb execution on key programs like admilparant, milvexian and Cobenfy.
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Wells Fargo has highlighted liver safety questions around admilparant, describing hepatic safety as a meaningful overhang, while RBC calls the ALOFT-IPF efficacy profile encouraging but confounding, with limited differentiation now expected from the higher dose.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 3 risks for Bristol-Myers Squibb. See which could impact your investment.
What's in the News
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Bristol-Myers Squibb reported interim Phase 1 Breakfree-2 data for zola cel in multiple sclerosis, showing a safety profile consistent with earlier results and early efficacy signals, alongside disclosure of one patient death from septic pneumonia after treatment that coincided with a roughly 2.5% share price decline.
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The company and SystImmune presented Phase 3 data for izalontamab brengitecan in advanced HR+/HER2 negative breast cancer and EGFR mutated non small cell lung cancer, with results indicating a 59% reduction in risk of disease progression in breast cancer and a doubling of median progression free survival versus chemotherapy in lung cancer.
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Bristol-Myers Squibb announced expanded use of AI and real world data through new and extended agreements with Tempus AI and Pathos AI, including exclusive access to the Pathos Foundry platform in neuroscience for three years and licenses to large multimodal oncology and neurology datasets.
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Positive late stage oncology readouts included Phase 3 ACTION 1 data for radiopharmaceutical RYZ101 in gastroenteropancreatic neuroendocrine tumors and Phase 3 EXCALIBER RRMM data for CELMoD ZENBEXUS in multiple myeloma, which supported an FDA approval in combination with daratumumab and dexamethasone based on MRD negative complete response.
How This Changes the Fair Value For Bristol-Myers Squibb
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The consolidated fair value estimate for Bristol-Myers Squibb has been reduced from US$66.71 to US$65.25.
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The long term revenue growth assumption in dollars now reflects a decline of 7.39%, compared with a prior decline assumption of 6.60%.
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The projected net profit margin has been adjusted from 20.59% to 21.52%.
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The assumed future P/E multiple has been set at 19.75x, compared with the previous 20.58x.
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The discount rate used in the analysis remains effectively unchanged at 7.24%.
Never Miss an Update: Follow The Narrative
Narratives link Bristol-Myers Squibb's business story to a structured financial forecast and fair value framework. They refresh as new trial data, guidance and news flow through.
Head over to the Simply Wall St Community and follow the Narrative on Bristol-Myers Squibb to stay up to date on:
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How the shift toward Bristol-Myers Squibb's growth portfolio, including oncology, neuroscience and immunology assets, is intended to offset pressure on older drugs facing patent challenges.
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The role of key programs such as Eliquis, milvexian, Cobenfy, Sotyktu and next generation multiple myeloma therapies in supporting future revenue and earnings.
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Main risks to the story, including upcoming patent cliffs, safety or delay concerns around assets like admilparant and zola cel, and the impact of drug pricing reforms and higher spending needs from acquisitions and partnerships.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include BMY .
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