William Blair analyst Matt Phipps has maintained their neutral stance on BMY stock, giving a Hold rating on September 5.
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Matt Phipps’s rating is based on a combination of factors, including the recent data presented by Bristol-Myers Squibb at the 2025 IASLC World Conference on Lung Cancer. The company showcased several promising datasets, such as the first Phase II data for pumitamig, a PD-L1xVEGF-A bispecific developed with BioNTech, and updates on the PRMT5 inhibitor BMS-986504 for MTAP-deleted NSCLC patients. Despite these advancements, there are ongoing concerns about the effectiveness of the VEGF mechanism in delivering a meaningful survival benefit in a global population of NSCLC patients.
The historical data, such as the AVAiL trial, only showed survival benefits in specific subgroups, and the ATTLAS Phase III study did not demonstrate an overall survival benefit. These factors contribute to the cautious outlook on the potential of pumitamig when used alone. However, there is optimism about its development path in combination with iza-bren, given the strong emerging data across multiple solid tumors. This cautious optimism and the need for further evidence to confirm survival benefits have led to the Hold rating for Bristol-Myers Squibb’s stock.
Phipps covers the Healthcare sector, focusing on stocks such as Upstream Bio, Inc., Amgen, and Jasper Therapeutics. According to TipRanks, Phipps has an average return of -4.2% and a 40.51% success rate on recommended stocks.
In another report released on September 5, BMO Capital also maintained a Hold rating on the stock with a $47.00 price target.