- Bristol Myers Squibb faces market pressure as Cobenfy drug trial falls short.
- Analysts maintain a "Hold" recommendation with an average target price suggesting upside.
- GuruFocus estimates indicate a significant potential upside based on GF Value.
In recent market movements, Bristol Myers Squibb (BMY, Financial) encountered a significant setback. The company's share price plummeted by 9% after announcing that its Cobenfy drug did not meet the primary endpoint in a pivotal late-stage trial as an adjunctive treatment for schizophrenia. While the trial displayed some improvement in symptoms, it ultimately did not fulfill its primary goal.
Wall Street Analysts' Insight
According to one-year price targets from 22 analysts, Bristol-Myers Squibb Co (BMY, Financial) is projected to reach an average target price of $58.06. This estimation spans from a high of $70.00 to a low of $33.10. The average target anticipates a potential upside of 16.53% from its current trading price of $49.82. For those interested in more detailed estimations, additional data is available on the Bristol-Myers Squibb Co (BMY) Forecast page.
Brokerage Firm Recommendations
From a broader perspective, consensus recommendations from 28 brokerage firms assign Bristol-Myers Squibb Co (BMY, Financial) an average rating of 2.7, signifying a "Hold" status. The recommendation system ranges from 1, indicating a "Strong Buy," to 5, representing a "Sell."
Valuation According to GuruFocus
In terms of valuation, GuruFocus estimates the GF Value for Bristol-Myers Squibb Co (BMY, Financial) to be $63.10 in one year, which suggests a 26.66% upside from its current price point of $49.82. The GF Value reflects the fair value at which the stock should trade, derived from historical trading multiples, past business growth, and anticipated future performance. For further details, please visit the Bristol-Myers Squibb Co (BMY) Summary page.
