Evan Seigerman, an analyst from BMO Capital, maintained the Hold rating on Bristol-Myers Squibb. The associated price target remains the same with $47.00.
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Evan Seigerman has given his Hold rating due to a combination of factors tied to Bristol-Myers Squibb’s current performance and outlook. He notes that the company’s immuno-oncology and hematology franchises are generating reliable, recurring cash flows, which underpin the stock’s valuation. At the same time, he highlights that newer products, such as Cobenfy for schizophrenia, are ramping more slowly than initially hoped, with recent prescription data and physician feedback pointing to commercial headwinds, including uncertainty around use without an adjunctive indication.
Seigerman also points out that updated assumptions for Cobenfy—such as more conservative gross-to-net expectations and only modest inventory benefits—suggest the drug may come in below consensus revenue forecasts in the near term. Weekly prescription trends, which show recent declines, reinforce his view that Cobenfy’s launch trajectory is not strong enough to meaningfully change the company’s growth profile in the short run. Taken together, the steady but mature core businesses and the slower-than-expected contribution from new launches lead him to conclude that the shares are approximately fairly priced, supporting a Hold rather than a more positive or negative stance.
According to TipRanks, Seigerman is a 5-star analyst with an average return of 9.7% and a 52.38% success rate. Seigerman covers the Healthcare sector, focusing on stocks such as Bristol-Myers Squibb, Regeneron, and Pfizer.