Morgan Stanley is closely monitoring Bristol Myers (BMY, Financial) as it nears the release of Phase 3 trial results for Cobenfy, which is being tested for use in treating Alzheimer's disease psychosis. These results are anticipated by late Q3 or early Q4 and could significantly influence the company's stock performance. Currently, Cobenfy is approved for treating schizophrenia, but Bristol Myers aims to broaden its use for other conditions.
While Morgan Stanley reports a recent stabilization in Cobenfy prescriptions for schizophrenia, the firm maintains an Underweight stance on Bristol Myers with a price target of $34. The expectation is that Cobenfy will show a notable improvement on its primary endpoint, although growth in schizophrenia prescriptions is predicted to remain steady throughout the latter half of 2025. If these trials succeed, the stock could see a modest rise.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Bristol-Myers Squibb Co (BMY, Financial) is $54.30 with a high estimate of $68.00 and a low estimate of $33.10. The average target implies an upside of 15.11% from the current price of $47.17. More detailed estimate data can be found on the Bristol-Myers Squibb Co (BMY) Forecast page.
Based on the consensus recommendation from 28 brokerage firms, Bristol-Myers Squibb Co's (BMY, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Bristol-Myers Squibb Co (BMY, Financial) in one year is $55.35, suggesting a upside of 17.34% from the current price of $47.17. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Bristol-Myers Squibb Co (BMY) Summary page.
