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Street View: Bristol Myers' pipeline milestones key to growth, say analysts

By Reuters News

** Bristol ​Myers Squibb BMY.N raised its full-year revenue forecast on Thursday, citing strong sales of its newer medicines, but lowered its 2026 earnings per share projection due to a hefty acquisition-related charge

** 30 analysts rate the stock "buy" on average; median PT $64.5 - data compiled by LSEG

THE CATALYST IS IN THE LAB

** Truist Securities ("buy," PT: $70) says co faces near-term concerns over the launch of schizophrenia drug Cobenfy and mixed trial results for immune-mediated disease treatment admilparant, but upcoming study updates could provide important growth opportunities

** Jefferies ("buy," PT: $76) says key study updates for Cobenfy, blood thinner milvexian, autoimmune disease treatment Sotyktu, and cancer therapies CELMoDs are expected through early 2027, providing potential growth drivers for BMY

** Morgan Stanley ("underweight," PT: $40) says pipeline progress remains the key focus, with upcoming data for blood thinner milvexian in atrial fibrillation, an irregular heart rhythm, seen as the most important catalyst

** TD Cowen ("hold," PT: $70) says Cobenfy has seen slow patient uptake, while admilparant's data supports its potential, with progressive pulmonary fibrosis (PPF) seen as the bigger opportunity

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