Raymond James analyst Sean McCutcheon has maintained their neutral stance on BMY stock, giving a Hold rating on April 8.
Sean McCutcheon has given his Hold rating due to a combination of factors impacting Bristol-Myers Squibb. The adjustments in revenue projections for key drugs like Revlimid, Eliquis, and Opdivo reflect both positive and negative trends. While there is an increase in expected revenues for Revlimid and Eliquis, the adjustments for Opdivo and other drugs like Orencia and Sotyktu indicate challenges such as market maturity and increased competition.
Moreover, the company’s growth outlook is tempered by the anticipated loss of exclusivity for major products like Eliquis and Opdivo. The analyst also notes the importance of upcoming results for the ARISE trial, which could influence the midterm growth potential. These mixed signals contribute to the decision to maintain a Hold rating, as the company navigates both opportunities and risks in its portfolio.
In another report released on April 8, Goldman Sachs also initiated coverage with a Hold rating on the stock with a $55.00 price target.