Key Takeaways:
- Bristol Myers Squibb's Cobenfy did not meet primary endpoints in the ARISE Phase 3 trial for schizophrenia.
- Analysts' price targets suggest a potential upside of 14.92% for BMY stock.
- The GF Value forecast indicates a possible increase of 26.66% from the current price.
Cobenfy's Trial Results
Bristol Myers Squibb recently announced the results of their ARISE Phase 3 trial for Cobenfy, which is used in conjunction with atypical antipsychotics to treat schizophrenia. Unfortunately, Cobenfy did not achieve statistical significance in reducing symptoms, showing only a 2.0-point improvement. Nonetheless, the company plans to conduct further analysis and discussions with regulators to explore Cobenfy's potential and future path forward.
Wall Street Analysts' Forecast for Bristol Myers Squibb
According to one-year price targets from 22 analysts, the average target price for Bristol-Myers Squibb Co (BMY, Financial) is set at $57.25. The high estimate reaches $70.00, whereas the low estimate is $33.10. These projections suggest an upside of 14.92% from the current stock price of $49.82. Investors can access more detailed estimate data on the Bristol-Myers Squibb Co (BMY) Forecast page.
Brokerage Recommendations
The collective recommendation from 28 brokerage firms rates Bristol-Myers Squibb Co (BMY, Financial) with an average recommendation of 2.7. This corresponds to a "Hold" status on a 1 to 5 scale, where 1 signifies a Strong Buy and 5 indicates a Sell recommendation. This rating reflects a cautious sentiment among analysts about the stock's current trading status.
GF Value Insights
According to the GF Value, Bristol-Myers Squibb Co (BMY, Financial) is estimated to reach a value of $63.10 in one year, signaling a potential upside of 26.66% from its current price point of $49.82. The GF Value is GuruFocus' proprietary estimate of the stock's fair trading value, computed based on historical trading multiples and projections of future business performance. For further insights, the Bristol-Myers Squibb Co (BMY) Summary page offers a comprehensive overview.
