Balanced Hold Rating for Bristol-Myers Squibb Amid Promising Cobenfy Growth and Fair Valuation

Evan Seigerman, an analyst from BMO Capital, maintained the Hold rating on Bristol-Myers Squibb (BMY – Research Report). The associated price target remains the same with $53.00.

Evan Seigerman has given his Hold rating due to a combination of factors related to Bristol-Myers Squibb’s current market performance and future projections. The company’s new product, Cobenfy, is showing positive trends in prescription growth, with a notable increase in weekly and monthly script numbers. This suggests that the drug could exceed revenue expectations for the second quarter of 2025, potentially reaching $33 million, which is above the consensus estimate of $27 million.
However, despite these promising developments, Seigerman’s analysis indicates that the overall valuation of Bristol-Myers Squibb’s shares appears to be fair, considering the stable cash flows from its immuno-oncology and hematology segments. Additionally, the pace of new product launches is expected to be slower, which tempers the overall growth outlook. These elements contribute to the decision to maintain a Hold rating, reflecting a balanced view of the company’s current and anticipated performance.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BMY in relation to earlier this year.